Topic: EUROPECOIN [ERC] 🌟 FINANCECLOUD 🌟 CRYPTOCURRENY & FINANCE API + SMARTHUB 🌟 - page 31. (Read 543365 times)

You are doing a fantastic job, mate.  Keep it up for the final stage.

Really looking forward to hearing your report from Malta!!

THATS IT

this  is the last update of our paper, you will ever see.
I am deeply moved by getting aware of that fact, can't be more exciting


DOWNLOAD HERE



we are getting real
have fun
Matthias


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Hardware Team Report

.... and more







Hardware

We discussed the fact, that  the uninterruptible power supply would nearly double the price of the device,
plus the fact that in case of running additional harddrives, the  Capacitors would have to be quite hudge.


Solution

Given we are having even more  ideas with nice features to add we decided to go modular
That means for  our device

1) we are serving the basic version with a "clean shutdown button", that just shuts the device down orderly
2) We will design a much bigger  housing, to be able to add  modules.
3) We will from start offer a UPS, a remote device and other modules as optional components
4) We will also use the bigger housing, to provide best possible audio quality per default for proper voicecontrol


and we are having a timetable

1) right now designers are  working on the new housing
2) they have a target timeframe of two weeks
3) while i will integrate the audio, we will post design proposals from time to time
4) after two weeks the design decision will be made and we will send it to the tools manufacturer to build the forms
5) they will need about 1-2 weeks to make the forms and to provide the first 10 test-housings
6) we will use these for the test devices on the Malta Blockchain conference
7) at the same time the tool-makers are producing the hard-metal forms for the series production


some more new stuff to report

Richard a friend in Cologne, who works for Disney Marketing Germany will join us to take
care of the Malta Blockchain Conference presentation area

Ralf, a business friend will take care of overseeing my texts for the info flyers
and will convert them into understandable language for average users

Carlos (the guy, who made our beautiful stickers) and Richard will then take care of the graphics,
so we can start printing in four weeks.

Clock is ticking, we are approaching the exciting part of the project, i guess

have fun
Matthias


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@Rataxe, of course Marv has some good points against it. Its not a "feature", what we are discussing, its a regulative workaround and its annoying.
I also agree with him that Termdeposit is a major, important feature. that should be preserved at all cost

Because we are having the Lawyer, who will check this concept for us, after we finished discussing it, i will try to get  the percentage down as much as possible, for sure.
This somehow  also answers your question, where the percentage comes from:  I  simply made it up as an example, taking into account, that users will at  least need a buffer.
they cannot  be required to be on 100%. All in all, i am not satisfied with this solution either. Its simply the only idea for now.
I am sure the will be something better  over time, any  idea is, as i said welcome, I can imagine  to find a job, that makes more  sense for ERC in the process of completing the Financecloud
over the next 8 weeks, lets see ...


Hardware Team arrived here tonight,
Tomorrow we will  start planning to go into production,

have fun
Matthias 


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Wallet itself may be low energy consuming, but it's just like CryptoMarv said: I should have my PC running 14-15 hours per day just for ERC wallet. I sincerely doubt that majority has their wallets (=PCs) running 24/7 * 60 % - I sure don't. Marv brought up other pretty darn good points and questions too. Especially #2. How did you come up with 60 %?

#4 is great point too. Win10 users will feel the PAIN of forced reboots behind users' back. I really hope this is indeed just a temporary solution, because this really kills it for me. I agree though, that Guardian as an idea is good.

The idea of the "Guardian" is good, but I am not 100% convinced to make this to a requirement for the term deposit:

1.
Who says that only running the wallet will be accepted as "work" from the US goverment?

2.
Who says that it has to be 60% of the deposit time? Perhaps 10% would be enough for the US goverment or perhaps 80% is not enough for the US goverment.

3.
I think the term deposit is one of the main features of ERC and very attractive for new users. But when the users have to open the wallet for 14-15 hours a day, this seems not to be very attractive in my opinion. Many "normal" user have not running their PC/Laptop so many hours a day and now they should keep it running the whole day only for the ERC wallet?

4.
Also it seems to be a little bit risky. For example I make a deposit for one year. And after one year I only have 58% running time because of holiday, pc was broken, forget to restart after crash, wallet hanged for some days and I don't recognised it, ... Then I don't get any reward for my deposit even I had my wallet running for over 5000 hours and my coins were locked for 1 year.

I would prefer a solution where the wallet has not to run all the time. But I also have no good idea at the moment when we don't know 100% what is accepted as "work".

exactlly, and given low mining rate is always an opportunity to get some coins with virtually no mining power,
normal users will never miss that opportunity, because their wallets will jump in automatically.

have fun
Matthia

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This is a super idea, system in europecoin able to detect if there is a decline in mining as well as giving the user to commit wallets notification mine at least, this is very interesting, so they can keep blockchain keep running.

Tormorrow Hardware Lab Team Meeting




Topics:

the new uninterruptible power supply function and production start







watch out for report!
Good night everybody and have fun
Matthias


.



.

    

    loose old and new screenshots collection i made,
    to update our new partners at KAZE Solutions



      PRESS HERE

     



     have fun
     Matthias


.

the special about Europecoin is, as you correctly said, "Ease of use and variety of use targets" and let me add interconnectivity accross blockchains and services.

Given i assume, reading your question, you already understood the low memory, security and ease to use properties of our wallet
(feel free to ask if i am wrong)  let me outline the product, we are building as the the next level (and will make public in 8 weeks in Malta):

Europecoin Financecloud API
emerged from a thought-experiment, named Federated Blockchains.
The paradigm shift behind is, to place "features" into a decentralized, blockchain-agnostic protocol, rather than into a single currency.
We predict, that in the near future, "inter-connectivity" (being the most connected entity in the network/market) will out-compete "unique features" as an advantage.
Why? Because there will not be such thing as "unique features". Coins of the future will have to have ALL the features or they will die.
The resulting product of our vision  about the future is a "cryptocurrency smarthub protocol" in a hardware device for the home-network.
These devices are acting as a mesh network, providing a financial servicebus for merchants, apps and services, with an easy interface and appstore.

Given our "all features approach" each single feature may not look "unique" but the system as a whole "FINANCECLOUD API" with EUROPECOIN in the middle of it,
is, though i consider this fact unimportant, quite "unique". So to say it philosophically:

"Don't look at the drops, we produce
look at the ocean, they create"

Get  a deeper understanding, reading our quite recently updated Paper:
https://erclab.bitcoinsulting.eu.org/index.php/s/gwP5cjNzqwebMYa

have fun
Matthias



.

---

It will stay low energy consuming, the wallet will have the same low memory footprint as before, just you have to leave it open.
The "work" you are contributing in this case is a hypothetical mining, that may never happen. You are rewarded for providing the
mining CAPABILITY in case of an low mining power emergency (which didn't really happen since this wallet existed). So the only thing
that will be measures is uptime of the wallet, which will have to be about 60% of the locking time. Term-deposit rates will simply work the same as before.
Also the mechanism is exactly the same.

---

How does it work then? How long coins would be locked? If it is just like Termdeposit then I can lock them for example for 2 weeks, but I still get 5%? Do I need to keep that wallet open for 2 straight weeks?

---

Term-deposit will work exactly the same, its just a "trick", to keep regulators away, by defining a "work" for the reward.
The work is "uptime" in a binary sense (you have 60%  uptime, then Termdeposit will go like it always did, you are beliw 60% uptime, Termdeposit wiill fail  and your coins will return)

Let me highlight that:

a) i do not feel this will be the final way to do it, FINANCECLOUD will give us enough opportunities to bind this earning to a
  "work" that will make not only more sense, but will also create another advantage for ERC inside of the Financecloud. See it as an
   Placeholder to keep the regulators in check wile rethinking this carefully and without pressure.

b) Ideas are always welcome.
   So let me outline once more the problem, we are solving with this change:

   Termdeposit in its current form,  pays without any work to be done. This leads the US, to classify ERC as an security.
   This fact would not directly a problem for us, but for exchanges, which would lead them to have to delist us.
   We are closely working with them, Bittrex is even paying the lawyer,  who is helping us to get this done correctly
   
   So if you have a different idea, that you think is better, THIS IS THE THING your idea should do:
   We need to define a form of work, that  we can claim, to be the reason for the given Termdeposit reward.

c) Keeping wallet open for a nearly improbable possibility to mine (which in a the rare case of happening would of course be rewarded extra)
     does not change the zero memory footprint of the Termdeposit function and we will find ways to also even eliminate the  given inconveniences.
    (lets "assume" a "third party" that is "not us" could start providing an uptime fake bot )

have fun
Matthias

Ease of use and variety of use targets with very low power consumption of Europecoin is the reason for the community to choose and support the project. Also, what is special about Europecoin?

Yeah.. my initial sensation was that this one kills it for me. If it goes to this then I'm with Rw13, maybe it should be removed.

How does it work then? How long coins would be locked? If it is just like Termdeposit then I can lock them for example for 2 weeks, but I still get 5%? Do I need to keep that wallet open for 2 straight weeks?

"May be you can add some nice UI feature to visualize  'coins earned' within a specific timeframe."

thats a good idea, thanks 
Have fun
Matthias

A good concept and a very good name for this feature 'Gurdian Reward'.

It's a pitty that you need to keep the wallet open, because the 'interest feature' was very low energy consuming.

But if this is the way to get get it approved i am with it.

May be you can add some nice UI feature to visualize  'coins earned' within a specific timeframe.

The Guardian Reward





As promised, here is the Termdeposit workaround concept,
to prevent regulatory problems, that would make it difficult for exchanges to keep us listed.
The  US sees any asset, that can accumulate rewards by just holding it, without having to contribute
work, as an "Security", This  would be a problem, because exchanges are not allowed to trade securities.

As a workaround, to be able to keep Termdeposit we came up with a new concept:

HINT:
Europecoin uses a technology, named "Bitbreak Blockchain Shield", that uses TWO separated difficulty calculating  threads, that
are checking against each other. This system is able to detect mining attacks in realtime and can react immediately, raising the difficulty.
On the other hand it can also detect a sudden drop in mining activity. It then notifies all user wallets and the are starting a minimal mining activity
to keep the Blockchain moving.

THE NEW CONCEPT:
Termdeposit will get a new name, the "GURDIAN REWARD". By locking his coins, the user expresses his commitment to safeguard the Network against a
drop in mining activity. The more coins he locks, the higher the higher is the probability, he keeps his wallet open, to collect his rewad.
Therefor he gets a reward of 5% of the locked Coins.

THE DIFFERENCE
The only difference is, that the user has to keep his wallet open. There will be no mining activity, as long, as the Blockchain has enough miningpower to move.
(which it always had, since our lattest wallet version.) only if the network drops below a dangerous fresh hold, the wallet would start mining. The mining is
very minimal and barely measurable, just to keep the Blockchain moving.

We tried to keep the added inconvenience as little as possible
while keeping all the benefits in place. What do you think about thee concept?

have fun
Matthias  


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KAZE Solutions Parnership





We are thrilled having meet with KAZE solutions and about partnering.
They can help a lot, perfecting Smartcontractng in FINANCECLOUD API
with KAZE <-> EUROPECOIN integration and more.

KAZE  is  a very like-minded team from Switzerland  and they  have developed
one of the most lightweight, but powerful  smart-contracting engines up to today.

have fun
Matthias 


.

  Because there are never enough explainers .....


 

   
  more stuff ....

  - fresh two-way ERC & FINANCECLOUD partnerships and integration plans establisched wit KAZA and with ELEGRO Payments.
 
  - Europecoin Financecloud Presentation in "The Block" Blockchain Conference Magazine created

  - Two Lawyers for the ERC Financecloud FOREX Gateway & Trading Intelligence module hired

  - 19.09. Investor Meeting in Wiesbaden, roadmap for the FOREX Gateway launch


  thats it for today
  have fun
  Mathias 



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all "FOREX GATEWAY" for "EUROPECOIN FINANCECLOUD API" investors
have now successfully signed and transacted.

This means all Financecloud modules and gateways are now up and well funded.

have fun
Matthias


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