Topic: ** LAUNCHED ** CredaCash -- The Most Private Cryptocurrency in the World - page 19. (Read 10537 times)

I'm sure it will be fine and people will love you for letting them generously own 2% of the supply.

If your code is like your money supply ideas then it will be lovely too I'm sure.



 

The initial miners will get 2% of the total currency mined in the first 35 days, which is a total of 200 million units, while the non-profit Foundation will get 80%.  The Foundation will not be participating in Proof-of-Stake mining, so it will not gain addition currency when Proof-of-Stake mining is implemented.  To ensure this, and to ensure the Foundation holdings are used as described on our website, the Foundation currency is being placed in a separate pool where it can be tracked.  Our goal is to create a completely private and highly scalable currency that can be used worldwide in real transactions, which no cryptocurrency has yet accomplished, and if that means doing things different than prior projects, we are willing to do that.

Just so it's clear: my posts are getting deleted because I'm highlighting an uncomfortable trough about this project:



So the miners are getting 2% while devs and their friends get 98%

Now, when you switch to PoS you will be getting 98% of blocks because you will own 98% supply.

I hope no single person is stupid enough to support this project lead by such greedy arrogant mafia.

(Dare to answer or will you just delete this post?)

There's a description at https://CredaCash.com/mining/ . Note that is only 80% of the initial currency.  The current plan is for at least an equal amount to be mined in Proof-of-Stake mining, once that is implemented, so the 80% would fall to less than 40%.  If you have any questions, please let us know. Thank you.

Thank you. A lot of long hours and hard work have gone into this project, and the complement is greatly appreciated.

I always see, that the team of this project is actively communicating. it is very helpful in its development. It is this one, that should be weighed on the activities of one whole - the team. everyone will admire this

80% of the initial currency is going to the non-profit Foundation.  That will likely fall to something closer to 40% of the total currency once Proof-of-Stake mining is implemented.

Note that we are not trying to copy any other currency.  Our primary goal is to create a completely private and highly scalable currency that can be used worldwide in real transactions, which no cryptocurrency has yet accomplished.  If that means doing something new and different, we are willing to do that.

Yes, 8 billion units of the currency are going to the non-profit Foundation.

That statement is no longer in our FAQ.  Our current plan is to initially have 10 billion units of currency, of which 80% will go to a non-profit Foundation, and to implement Proof-of-Stake mining in the future.

The project does not currently have a discord channel, but we are happy to answer questions here, or you are welcome to contact us through direct message or through the contact form on our website.  Thank you.

The mint will generate 10 billion units of currency. We have no idea what those 10 billion units of currency will be worth in terms of US$ -- that might be decided by the market at some point in the future. 80% of that currency will go to a non-profit Foundation, and the current plan is for the Foundation to auction that currency to support its non-profit mission.  The project does not believe that will be too much--we have no doubt the Foundation will be able to find beneficial uses for the proceeds.

CredaCash has been under development for four years and is launching June 15.  The software to support mining is expected to be released tomorrow.  Please let us know if you have any additional questions.  Thank you.

The CPU integer performance will be the only thing that makes much of a difference.  The mining is multi-threaded and will run on as many virtual cores as you give it.  A videocard/GPU won't help.

Does it mean that it is CPU-only mineable? Does  fast and powerful CPU have an  advantage over others? Number of threads, size of cache, amount of RAM in the system, is it important? Is videocard is useless in your algo?

No, there are not.  One thing that might be significant to note is that the CredaCash currency was designed and intended to be a utility token, not an investment contract aka security.  This is important so that the project can see the widest adoption and be used in real transactions.  If the currency were to be classified as an investment contract, then it would be subject to a wide range of regulations, including where it could be acquired and how it could be used.  There are a number of factors regulators may examine to determine if a token is an investment contract, and one of those factors is whether the promotion of the project emphasizes the technology, or whether it emphasizes the credentials of the team.  To the extent possible, the CredaCash project is going to avoiding taking any action that might lead a regulator to incorrectly conclude that the currency is an investment contract, and for that reason, our emphasis is and will continue to be on the technology.  Everyone is welcome to download the software and source code and try it out--that is the best way understand the project.

If you have any more questions, please let us know and we will attempt to answer them.  We apologize though that we might not be able to answer all questions due to factors beyond our control.  Thank you.

Hi,

Are there any pictures of the team behind the project and their LINKEDIN profile links? Would highly appreciate if you could provide such crucial information, thank you!

The initial mining during the first 35 days will be based on Proof-of-Work. That time period is probably too short to get an ASIC or FPGA implementation working, so in that respect, it is ASIC/FPGA resistant. The blockchain will then be secured by Proof of Authority for the next half-year or so, and will then be migrated to Proof-of-Stake when we have that ready.

If you would like to participate in the initial mining, you'll be able to download and run the software for that sometime around June 12.

Thank you for your interest and please let us know if you have any more questions or run into any issues.

is this asic or fpga resistance ?? and what algo is this coin ? and where is discord ?

No, but we don't have any more information to give you on that at this time.  If that changes, we will update it on our website.

After four years of development, CredaCash is scheduled to launch June 15.  If anyone has any questions prior to launch, please let us know and we will try to answer them.  Note this thread is moderated to ensure it remains informative.  Thank you.