Topic: [PRE-ANN] Meros: An instant and feeless cryptocurrency for the future. - page 4. (Read 4167 times)

Why is the total supply not applicable? Is it infinite supply? I have heard of ember before. So ember holders will swap to meros? Having a feature of instant and feeless will only be useful if this coin will be used by many merchants or shops that a user can use for his payment. Are you going to tie up with merchants for this platform?

Have you ever tried Nano?

Instant, secure, feeles, green, with great team and comunity.
Its already in the top40 CMC list.

1) Download Natrium for your phone
2) Get some free Nano at nanofaucet .org
3) Be amazed

The Block Reward is calculated using a negative sigmoid which is designed to remove how arbitrary halving is.

The total supply isn't applicable so miners always have a reward, something many other coins do.

The premine can't be stated as a percent of the total supply due to the lack of a total supply. It's roughly 350k Meros, with 100k released at launch, and 50k released every 6 months after until all 350k has been released.

The project  might be good but  i do not think it can go far or win peoples interest with the below specifiications
Block Reward: 50 to 0.0000001000 MR
Total Supply: Not applicable.
Premine: The equivalent of 2 weeks of the block reward at launch. Then, 1 more week every 6 months, for a total of 7 weeks.

Our new Triweekly Update is live! https://medium.com/@MerosCrypto/meros-triweekly-update-17-7f3fd74c1a3

A new episode of our Monthly Podcast just went up! https://www.youtube.com/watch?v=rUpQ1JLGrxw

Our new Triweekly Update is live! https://medium.com/@MerosCrypto/meros-triweekly-update-16-15ff043381e8

prague: Testnet coins will not have any mainnet value, however previous testnet participants are planned to receive MR for their contributions. This will likely extend to our future testnets, but depends on how many people join, and how much they help out.

CaVO32: We agree wholeheartedly, and are already planning ways to gain adoption. Beyond the normal items, like a mobile wallet which supports invoice tracking (which are easier to use than desktop-based payment processing software), we are planning new ways to convince larger businesses to accept Meros. That said, we will need the users to back us up, which is why we're here, making this post. while we finish writing our software and posting updates on our work.

i understand that bitcoin is not meant for payment system because of its pretty expensive transaction fees and many other things. however, several altcoins already addressed those disadvantages of bitcoin but where are they now? the bottleneck that you will encounter here is your coin adoption. even if you have stunning features beating bitcoin, yet your popularity is nowhere half of bitcoin, then i would say, you need to work hard how to gain users for this project. explore your options on how you can introduce this to crypto users and create large following.

Is final testnet stage rewardable in any kind? i.e. migration, swap etc...

The block reward provides incentive to miners, just like BTC until 2140, and Ethereum.

How is it possible to maintain a network if it's completely feeless? Where is the incentive for the maintenance of the network?

Great original work. Developer is fully commited and has all the skills to make it happen. Looking forward for next updates!

Meros is an entirely new, instant, and feeless cryptocurrency, designed to live up to the term and be a currency. Our goal is to enable payments between anyone, anywhere. We don’t believe in shouting buzzwords or centralization. We believe in providing the best tech possible, for the best currency possible, focusing only on elements that improve the currency itself. We set out on this journey with no ICO, no corporate backing, and no venture capital, yet have actively developed Meros for almost an year, building a functional and secure network.

For a quick summary, all Meros transactions are stored on a DAG, allowing non-latent transactions, yet a blockchain also secures the network, providing heightened security via Proof of Work. The two work together according to the brand new Merit Caching Consensus Mechanism, designed and written for Meros. Meros also offers data transmission, yet makes sure that transactions will always be prioritized over data.

Our purpose in this announcement is to grow the Meros community and establish our presence on the cryptocurrency playing field.

• Name: Meros
• Symbol: MR
• Block Time: 10 Minutes
• Block Reward: 50 to 1 MR, calculated via a negative sigmoid which is a function of the difficulty
• Total Supply: Not applicable
• Mining Algorithm: RandomX
• Signature Scheme: Ed25519 (Transactions) and BLS (Verifications)
• Address Format: Bech32

• Premine: 352800 MR, time-locked over 2.5 years

How far along is Meros?
Meros has been in development for over 11 months now. We have completed two Developer Testnets, which were open to anyone who compiles the node.

How is Meros instant if it uses a blockchain?
This is due to the Merit Caching Consensus Mechanism. The Merit Caching Whitepaper is linked above, yet to summarize it:

• All transactions are published to the DAG.
• Merit Holders submit Verifications, which are valid as soon as they are received.
• A transaction is confirmed when it gets 50.1% of the weight.
• The blockchain archives these Verifications.

How is this PoW if there’s "Merit Holders" and weight?
The blockchain is mined via RandomX. Mining the blockchain earns weight in the form of Merit, which is used to verify transactions on the DAG. Verifications are then archived on the blockchain, and new Meros is distributed based on those Verifications.

Why does Meros have data transmission but not a smart contract engine?
Data transmission enables a smart contract engine, yet we believe that is a separate project than a currency, best left to a second layer. We will offer a BTC style scripting engine in order to enable second layers though.

How does Meros handle spam?
Typically, transaction fees stop spam. Since Meros doesn’t have those, we have an adjustable spam filter where users must ‘spend’ CPU cycles to prove their transaction isn’t spam. Data transmission has a separate spam filter, which is how we make sure transactions will always be prioritized over data.

Why is the total supply not applicable?
In order to continue to reward miners, when there’s no transaction fees, there will always be a block reward.

Why are you using two different signature schemes?
Ed25519 is simply a better algorithm than the ‘traditional’ SECP256k1 algorithm. That said, BLS allows signature aggregation. This means we can have one signature for hundreds, or even thousands, of Verifications, and verify them all at once.

Why are you doing a premine and not an ICO?
A time-locked premine means we only make money if we deliver a working product and the coin succeeds. An ICO means we make money for having a great marketing team. It’s fairer to the community to do a premine.

When will Meros be launched?
We planned on launching our mainnet at the end of Q2, 2019. Before launch, we need to match our updated protocol specification, create a quality GUI, do a few more testnets, and have our codebase thoroughly reviewed, pending a full audit. We could launch at the end of Q2, with just a CLI and without proper testing, yet the team considers it their moral responsibility to make sure a new monetary platform is secure, and our community has decided they'd prefer a delay over having only a GUI at launch. For these reasons, our current statement on when Meros will launch is "2019".

What is Ember?
Ember was the original name of the Meros cryptocurrency. We rebranded due to conflicts with dead projects.