KOBOCOIN IS MOVING TO THE ETHEREUM BLOCKCHAIN! This is not going to be a trivial exercise, but we will all get there. Let's start the discussion on exactly how, and timescales. It will be a 1:1 swop for all KOBO holders. I will be aided by the guys at Bitsoko for this operation. Nobody will miss out. Long term community members who might miss this announcement will NOT be left behind and will NOT lose their allocation.I want to maintain the following features
- Initial supply will be the same as current circulating supply (24.7m or 25m to round it off - extra kobo will be used for initial merchant purchases)
- PoS 10% growth per annum (negotiable)
- Max coins still set to 350,000,000 (negotiable)
WHY?- Bitsoko will be using Kobocoins as a retail loyalty scheme to offer a replacement for an already existing Kenyan retail loyalty scheme, which is VERY popular (see working prototype screenshots below).
- Moving to the ETH blockchain means NO MORE SYNCING ISSUES! We will also be on the more secured ETH blockchain (hurrah!).
- It makes development of Kobo applications quicker and also open to a LOT more developers who are now fluent in Solidity.
- Access to Smart Contract technology on the ETH platform.
- Faster mobile development for interested parties.
- Kobocoin and Bitsoko will become closer partners. Bitsoko are very experienced ETH developers. Kobocoin will effectively no longer be a one man band (me!).
I think this a very important decision.
It's important to solve the sync issues and definetly attracting some good devs, but don't forget that the most important thing KOBO needs is to be easy-to-use for the average people.
About the 10% PoS and 350,000,000 Total coins, not that sure about it.
We need the 10% stake to increase the interest in the coin while it's being adopted by the real users, but you don't want 10% inflation every year.
I mean, with a total 350M coins it will take more than 25 years to achieve it (maths down below) while 100M coins will take almost 15year.
I think in 15 years this coin is gonna be used by the people it's focused on, so no need to have another 10years of 10% pos.
25.000.000
27.500.000
30.250.000
33.275.000
36.602.500
40.262.750
44.289.025
48.717.928
53.589.720
58.948.692
64.843.562
71.327.918
78.460.709
86.306.780
94.937.458
104.431.204
114.874.325
126.361.757
138.997.933
152.897.726
168.187.499
185.006.249
203.506.873
223.857.561
246.243.317
270.867.649
297.954.413
327.749.855