Topic: EagleX (EGX) - perspective coin based on own blockchain "IronGeekChain" - page 10. (Read 2748 times)

Dear EagleHodlers, We are very proud to announce a great news to all of us, we have made a quantum leap in Iron dBFT algorithm so that we now can lowering the cost in order to become IronGeek Node (Master Node). The cost that user needs to pay is 2500 BENZ 😎 , once it has been paid the fee will be redistributed to the all EagleX holders, the Node will be activated life time. Now everyone can run IronGeek Node.

F.A.Q :

1. What is the purpose of IronGeek Node? 
Answer : 1. Securing the network by validating the transactions

2. Does IronGeek Node generate Block?
Answer: Yes

3. How does IronGeek Node validating a transaction?
Answer: By signing a valid transaction

4. Will IronGeek node get fee from transaction ?
Answer: Yes, 0.01 BENZ for each transaction

5. Does EagleX team running IronGeek Node?
Answer Yes: We will run IronGeek Node called Prime Nodes

6. Other than Prime Nodes, what are they?
Answer: We call it Participant Nodes

7. Does Participant Node validate a transaction?
Answer: Yes

8. Does Participant will earn fee?
Answer: Yes: 0.01 BENZ for each transaction 

9. Does Participant will generate block ?
Answer: Yes

Hi EagleHodlers! IronGeekChain test network with Master Node will be updated in 5th July 2018, we will open Testnet registration for master node after that (distributing 2500 dummy BENZ for testing to users), Let's bring an earthquake to the crypto world!

Iron Delegated Byzantine fault-tolerant (Iron dBFT) consensus engine which is robust against double-spend attacks and is tolerant against a set of up to 4/5 (20%) Byzantine actors in the network

For your information the Benz that you paid actually will be paid to the system and distributed again to EagleX holders. In the future the cost will be cheaper.

Benz is created for powering the IronGeekChain; all transaction, voting and smart contract deployment fee will be charged in BENZ. Benz can be acquired by staking EagleX. The EagleX holder just need to hold their EagleX in its wallet and will get Benz without need to turning on the network, therefore, it is called cold staking. Maximum total supply of BENZ is 144 million with 2 decimals which will be reached in 10 years. The Benz generated for the first year is 64 million Benz, then 32 million, 16 million, 8 million, and 4 million Benz per year until reach maximum total supply. There is no pre-mined Benz at the beginning.

Dear EagleHodlers, today we are giving you info how much BENZ do you need to pay (not holding) in order to run IronGeek Node (Master Node), the amount of BENZ (Benzin) that you need to pay is 50K (50000) BENZ, The reward is 0.01 BENZ for each transaction which been validated by the Node itself. This decision is final as being discussed by Eagle Core Developer team. Other than Decentralization, our major concern is to avoid network abuse. We will announce the guide document how to setup Iron Geek Node in your server. At the moment we are deploying the new IronGeek Node into the server which replacing the old Node, your registered TestNet account balance will be reset, and we will announce new account open registration for the IronGeek Node soon.

EagleCoin in the first step of EagleX project which is previously an ERC20 Ethereum token that functions as a digital asset. To achieve the goal of the project to be the next generation of payment system, EagleCoin will be transform from an ERC20 token to EagleX that has its own blockchain with great features, called IronGeekChain.
“X” letter in EagleX means eXpand, representing the expanded vision and targets of Eagle project.

Next week we are expecting great news about our platform and future plane how to be in TOP.

Dear Eagle holders, very soon our IronGeekChain platfrom will be alive. Stay with us!

Hi EagleHodlers, for those who are wondering where we put the source code, the answer is: We have Private source code repository, and will release it to the public as soon we go alive with EagleX

Happy World Cup, Eagle HODLers!

We Will announce the perquisite to run Iron Master Node, just stay tuned.

Hi EagleHodlers!, We are proud to announce that we have finished IronGeek Master Node development phase,  we are going to get into the staging phase through the EagleX TestNet deployment this week, as soon we have finished deploying it, we will do open TestNet public account for eligible users. How much BENZ need to be paid and tutorial how to setup the IronGeek Master Node and also Coinmarketcal event date will be announced later on. What we should know about Iron dBFT algorithm? Iron dBFT is an alogorithm consensus mechanism to determine whether a transaction valid or invalid using final decision 20% Fault tolerant, it means a transaction Must be validated at minimum rate 80% of total active online nodes, what Iron dBFT offer and different compare to other dBFT is: Iron dBFT can determine how much active total online nodes Dynamically, and collaborate all the participant online nodes Automatically in order to achieve the consensus. Iron dBFT is totally open to public and fully Decentralized.

Hi EagleHodlers, one of our Japanese friend created Japanese version of EagleX article on Medium: https://medium.com/eaglex-japan/20180607-bb7ec6dc36e2 , happy reading! 😎 | He also has EagleX twitter account (not official) that we can follow: https://twitter.com/EagleXJapan

IronGeekChain is a platform

IronGeekChain use a consensus mechanism called Iron dBFT (Iron delegated Byzantine Fault Tolerant). A transaction need to be validated by 80% of all active master nodes. If some representative nodes sending cheat or false transaction, as long as the false ones are less than 80% all active master nodes, the transaction will be rejected. Valid transaction will be recorded in a block which need 15 – 25 seconds to generate a block in IronGeekChain. A thousand transaction can be validated in a second.

IronGeekChain has Eagle Smart Contract System, which supports multiple programming languages. Smart contract developer can use their convenient language including C#, Java, and Python.

EagleCoin will migrate from ERC20 token to EagleX, a token on its independent blockchain, called IronGeekChain. The blockchain is secured by master nodes which are the representation of all EagleX holders.
To validate the transaction, IronGeekChain use a consensus mechanism called Iron dBFT (Iron delegated Byzantine Fault Tolerant). Iron dBFT is a dynamic dBFT, It is a mechanism to calculate available nodes and determine valid majority voting for each transaction. A transaction will be valid is it is confirmed by 80% of the active master nodes. To generate a block, the consensus mechanism will take 15 – 20 seconds.

The blockchain will have the following features:
-   Support multiple type of digital asset
-   Smart contract which support decentralized application.
-   Consensus mechanism
-   Quantum resistant
-   Cold staking.
-   Desktop, mobile, and web wallets.

The benefits for EagleX holders are including:
-   EagleX holders can do cold staking and receive BENZ.
-   EagleX will become the main currency used for buying token when an ICO is conducted in EagleX system.
-   EagleX will also become the main currency to be paired with other coins when the decentralized exchange is built in EagleX system.
-   EagleX holders can receive airdrop when a token is issued in Eagle ecosystem.
-   EagleX has a free transaction fee makes EagleX becoming perfect digital asset for transferring need.

Our vision is to make EagleX system a new generation of payment system that is accessible to a wide range of users, is easy to use, has a low fee, and complies with the regulatory regimes all jurisdictions. The key of regulation compliance is the use of fiat money for purchasing in the EagleX system. However, if applicable in a jurisdiction, the use of cryptocurrency as payment is facilitated in EagleX system.


https://eaglepay.io
International telegramm group: @eaglecoinworld | @eagle_malaysia | Indo: @eaglecoin | announcement: @eaglecoinglobal | Rusian: @EagleCoinRussia
VK group: https://vk.com/eaglecoin
Twitter: https://twitter.com/EagleCoinID
Facebook: http://fb.com/EagleCoin
LinkedIn: https://www.linkedin.com/company/13453528/
Github: https://github.com/elangindonesia/EagleCoin