Topic: Announcing ProzCoin : Proof of Action (PoA) - page 46. (Read 78513 times)

barely any have been given away
[19:05] less than 10k
where in the funk did it say anything about this shyt
10% were given away
to their pockets no doubt

ROFL the premine..

Just call this millionairecoin 2.0

and Universitycoin 2.0

and Scamcoin 2.0

Sigh, all them haters...

Maybe this helps... Maybe! http://ferengicoin.org/smf/index.php?topic=659.0

Devvie

twitter.com/devnullius

and what is next ? refund ?

Interview of Prozcoin Devteam for Cryptotycoons.com:

http://www.cryptotycoons.com/2014/08/prozcoin-a-coin-for-the-masses/

PROZCOIN: A COIN FOR THE MASSES
August 19, 2014

INTRODUCING PROZCOIN

Does a strong social network presence, a relatively large ecosystem at launch, and an open Dev team spell success? We here at CryptoTycoons thank so!

ProzCoin is an all new altcoin based on the MasterCoin algorithm with some PoS thrown in. Once complete, it’ll use an innovative new mining protocol called Proof of Action (POA) that pays out based on hours spent mining other coins at ProzCoin rather than  using the more traditional hashrate payment schemes! On top of the innovation, the developers have added legitimacy to this brand new coin  by revealing their real identities by posting and confirming their linked in accounts! Each developer brings a skill or service to the coin, making this one of the most well rounded coin launches we’ve seen in weeks!

So read on to check out our exclusive developer Interview!


Earlier today we had the opportunity to speak with the developers of ProzCoin! We hope that this article helps clarify any questions you may have. We here at CryptoTycoons were intrigued with the PoA system that ProzCoin brings to the table, as well as how open the developers are being. Publicizing their identied adds a sense of .

 

kudos to going public with your identities! It adds a lot of value to your coin! Do you have any concerns with going public with your identity? Are there any risks involved In your opinion why don’t more coin developers do it?

We wanted to embrace transparency as part of our main tenet of the Coin Proz organization, so releasing our identities was never an issue.  No more risk involved than having a public record as far as I am concerned.  I believe a lot of developers are afraid of the public backlash at the prospect of failure, and would rather not have any failures associated with their name.  I understand on one hand, but feel it’s a hindrance to actual development if you can’t trust the developer to be who they claim to be.


What inspired you to create ProzCoin?

The Coin Proz team is focused on making cryptocurrency accessible to the masses.  Our network is built around focusing multiple crypto communities in the same direction, and ProzCoin is the main currency that will be used within the economic infrastructure.  We have established a network of merchants, websites, and services that accept our coin from day one, and plan to create payment software and hardware to bring cryptocurrency to businesses and citizens, and in the process our community will give them access to all the different communities in crypto through our portal.

Are you, or your team affiliated with any of the merchants that agreed to pick up your coin immediately?
All of the initial merchants are official affiliates of the Coin Proz network.  Myself(Chris Bates) and Tim Frost are co-founders of Cryptoshoppers, and I also have been handling some PR and Social media for Left Turn Only Tv.  Erko Elblaus who is the lead UI/graphic designer for Coin Proz is the owner of Elblaus Designs.

Some people are worried about how many coins the developers will have on hand at any given time. How will you put to side these concerns?

We have already planned on putting any unallocated coins into a publicly visible escrow account, and plan on having complete transparency for every coin

How does the POA system work to increase the value of ProzCoin?

The idea of PoA is that By creating a reward system that takes a set of given “actions”(PoA), whether posting on a forum, writing an article about your favorite coin, or even mining, and quantifies the action relative to some metric of user feedback to “prove” that the action had merit and quality.  So users won’t simply get rewarded for posting on the forum, but only if you make posts that get upvoted will you get a reward.  By having this reward system that encourages the involvement of EVERY coin community, the limited number of coins should theoretically increase in value as the ProzCoin infrastructure grows larger, and the limited supply is further distributed.

Which coins will have a ProzCoin POA pool at launch time?

The PoA/PoW mining pool is still in development for CoinProz.com.  Upon completion the system will allow any coin that has the capacity to have PoW mining give a dual PoA/PoW score in our pool.  The merged mining pool is one of the projects that we hope to complete within the next few months with the capital from the ICO.

Do you, or any of your team have experience with developing for any other coins? Care to share which ones?

Shannon Code is a developer evangelist for the Mastercoin Team.  I did PR for Marinecoin, and commissioned Left Turn Only Tv for one of their Promo videos: https://www.youtube.com/watch?v=tbItDaNNAZU

What can the community do to help this coin succeed?

There is a limited supply being sold through Cryptoshoppers, and then the rest of the coins allocated for raising capital will be sold on exchanges.  When PoA is implemented in the first round, the community will then be able to help by participating in any way they feel and get rewarded in ProzCoin!


Is there anything else you would like to say?

The Coin Proz team wants to be at the forefront of innovation and community involvement.  Our long term goal is to establish a positive environment for the entire crypto community.  No coin is excluded.  We also want to develop software and hardware that will make cryptos more safe, accessible, and bring greater worldwide adoption.

Poloniex still in the process of setting up escrow.  It is 100% for sure though, do not worry.


Chris

Will either be PROZ, PRO or PRZ

Talking to Poloniex now and finalizing everything.

edit:

will be PROZ for certain

Chris

Hey Chris, any idea what the ticker symbol will be?

Just heard from Polo:

Getting ledgers straight, and getting Escrow details settled for now.


Chris

thats truth buddy soon as i can mine that pro coin i will dump
dont u have to do something besides just say we sold enough price going up

I believe I can address your concerns:

We don't plan to oversaturate the market with our own coin as to cause said inflation.  As 78% of the coin will be in public escrow with Poloniex, we have a scheduled release plan for the coins so that the coins allocated to each slot whether PoA, or PoA/PoW mining is set to pan out over 3-4 years.  So the 10 million set aside for PoA rewards won't even all be distributed until 3-4 years has elapsed, and the same for the PoA/PoW reward blocks.  A sum of the coins will be sold over the 3-4 years to establish reserves for the economic infrastructure, which will also be made public.

The desktop client was not high priority since this project is moreso about an entire ecosystem that operates on a cooperative paradigm so that we allow any coin to be promoted within our Coin Proz network, any PoW coin to be mined through our pool, and everyone will receive ProzCoin for their "quality" participation, as judged by a transparent algorithm which includes user feedback in the form of upvotes and such.

As of now we are heavy in development for a hardware wallet that will not likely be open source, but as Shannon Code has stated, the mix of open source/proprietary developments will be case by case.

PoW is absolutely going out of popularity, but we don't want to exclude PoW miners, and in essence, we will reward them for their participation and not their hashing power.

Great questions with very valid points and concerns!  Thank you very much for your intelligent participation!


Chris

edit:

here is the formula for PoA/PoW merged mining as an example

PoA/PoW Merged Mining Variables:

A = 10,000,000 ProzCoin
B = Mining hours Used
C = Base Block reward of 1141 Proz
D = leftover proz from previous block + C
F = minutes of mining from last 24 hours for an individual
N = F/1440
Q = Cumulative individual minutes of mining across network (1,000,000 miners = 1,000,000 minutes)
X = Number of miners in real time
Y = Number of ProzCoin mined so far
Z = total (hours or blocks) 8760
   
(B/Z) = %Time elapsed
(Z-B) = Hours left

[C/(X*N)+D]/Q*(Z-B)= 24 hour payout for an individual

These are my concerns with ProzCoin:

Only 100 million coins will cause HUGE inflation.
Needing another coin to send ProzCoin.
Can't find anything about txs times (I am not familiar with MasterCoin so I am not sure what the details are but you should post them in your thread to make it easier for people to follow).
Listed on exchanges when the client isn't even out yet.
No mention of what will be open soure.
PoW is a dying breed.

Should be some point today.  Their developer is a busy man

Chris

what about polo ?

Prozcoin giveaway on twitter:

https://twitter.com/ProzCoin

Slander/libel in any capacity will not be tolerated.  You have been reported.


Chris

soon as you get thru all wanna be investers and your cheesey news website and this lie about mining this coin
i will mine it for a loss and dump just like you will with your premine
so your 300 satoshi price will tumble
and your proz bulshyt will be known
stop this scam
poa = proof of arshole
release it for mining like in this posting
taste the reality of your bs

One of the Mastercoin representatives has written a blog about the Coin Proz project:

http://blog.mastercoin.org/2014/08/23/judith-bizdev-projects-launched-on-the-master-platform-update/


Chris

ICO price of 250 satoshi is gone, and Prozcoin will be sold at 300 Satoshi until we are live on Poloniex.

http://cryptoshoppers.com/index.php?route=product/category&path=80


Chris

Been working on the plans for reserves to have a solvent coin concerning merchant exchange insurance.


Just an update for anyone who owns a business scanning the thread thinking about accepting Prozcoin

Chris