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Topic: [PRE-ANN] OPAIR | Decentralized Debit Cards | OCaml | New Blockchain Platform - page 111. (Read 127674 times)

sr. member
Activity: 476
Merit: 250
You say 91% is going to PoW?


-   Approximately 9% of the coins will be distributed to early supporters in ICO procedure to participating users based on their contribution in the total amount of the raised funds. The sale procedure will be taking place at https://www.opair.co/invest/. In our site we are offering a SSL encryption and a two-factor authentication security.
-   Approximately 91% of the coins will be distributed on PoW phase until 525600th block.


Important Update

The PoW phase was stipulated to occupy 30% of the distribution during the period of 1 year but many people have complained that 30% via PoW may be manipulated by whales so after talking to Frank and Hao we reached a consensus on the new distribution. We have changed the official percentages of 70-30 to 91-9 (90.81 to 9.19 to be exact). And we continue to maintain 0% for us, as in the beginning.



Looks like a typo?

No BasementRot, it is the opposite (9% PoW-91% ICO), in the first text that you quoted we had mistyped. It is already corrected.
full member
Activity: 126
Merit: 100
You say 91% is going to PoW?


-   Approximately 9% of the coins will be distributed to early supporters in ICO procedure to participating users based on their contribution in the total amount of the raised funds. The sale procedure will be taking place at https://www.opair.co/invest/. In our site we are offering a SSL encryption and a two-factor authentication security.
-   Approximately 91% of the coins will be distributed on PoW phase until 525600th block.


Important Update

The PoW phase was stipulated to occupy 30% of the distribution during the period of 1 year but many people have complained that 30% via PoW may be manipulated by whales so after talking to Frank and Hao we reached a consensus on the new distribution. We have changed the official percentages of 70-30 to 91-9 (90.81 to 9.19 to be exact). And we continue to maintain 0% for us, as in the beginning.



Looks like a typo?
sr. member
Activity: 476
Merit: 250
I'm interested in the project but i wonder... What are the difference between OPAIR and others projects close to it, as stratis? why should we invest in OPAIR?  Huh

We have nothing in common except the fact that both are descendants of bitcoin. As far I know, they are offering his solution as BaaS (Blockchain-as-a-Service) and we are covering the entire spectrum and offer a complete ecosystem that will serve both the ordinary user as large entities that want to make use of our benefits. Take a look:

Quote



 
  • Colored Coins

Our goal is to provide support to the Colored Coins, whose objective is to represent and manage any value/asset/fungible good (like equities, bonds, commodities, fiat currencies, game items, etc.) on top of the Opair blockchain. They can be stored digitally without the interference of a third party and be exchanged for other colored coins or standard XPO in a transaction. The code that is responsible for managing the Colored Coins is in the top of the Opair blockchain, so all implementations will allow its use within our wallet and will not need a specific client. This will provide more simplicity, security, will be more capable.


  • Smart Contracts

As regards Smart Contracts (to support DAOs, legal contracts, crowdfundings, prediction markets, IoT, Prediction Markets, Dapps, etc.) we decided to work with functional programming instead of imperative programming languages after doing some research on Solidity. Although neither Haskell nor OCaml, the most recognizable functional programming languages, meet our expectations we decided to work with a personalized version of Ocaml. Soon we will be offering a wiki in Github with documents on the language but if you already handle OCaml you should have no problems with it. Our approach will not be to get an easy to code language, instead it will be reaching a solid solution that it will not be easy to be manipulated but it will make a difference. Some considerations about Haskell and Ocaml:

1) Although OCaml a fewer number collection of libraries, these have higher quality than Haskell.

2) OCaml has more presence in industrial and financial solutions. It has a great support for parallel and concurrent computing.

3) Haskell has typeclasses. OCaml has higher-order modules. Typeclasses are good "in the small" for things like overloading arithmetic operators. Modules are good "in the large" for structural industrial-size code bases. For Example: https://ocaml.org/learn/companies.html

4) Both of them have strong points but we had to make up our minds and we chose OCaml for the reasons listed above. For those who handle both languages will surely agree on the fact that OCaml is easier to handle.  

Furthermore we intend to meet online with Xavier Leroy, the main developer of the OCaml System to show him our modifications and insights behind our project. Some more examples: http://cufp.galois.com/2007/slides/XavierLeroy.pdf



  • Market Core with decentralized reputation system

The market will allow you to buy and sell gods or services from the Opair´s platform. It will include a system of reputation in which anyone who has made business can qualify the seller bringing trust and transparency. Also it will be separated by categories and tags.


  • Private chains

In those cases there will be an entity that will manage the blockchain which can change the  rules, if so desired, revert transactions and modify balances and so on given that they have the write permissions (they can be either public or not).  

Along by the private chains we will give support to a more descentralised (semi) alternative known as consortium chains which will be run by a pre-elected set of nodes instead of only one. Likewise, they will count with advantages with regard to the mainchain depending on the circumstances such as:

1)   It should be point out that speed of transactions will be greater in comparison to the offered in the mainchain due to the fact that there will be few nodes verified and given they are all mostly reliable it will not be necessary to verify them all. These will count with high end computers and the best internet connection.  

2)   Every block chain will be configurable under certain standards that we will establish which will show the requirements and goals of their creators.

3)   Transactions will be far cheaper than the mainchain given that only a few nodes will have to be verified (there will be no need of charging if there is only one person who processes all of the transactions).

As you can imagine these blockchains offer a more efficient, faster and outstanding solution mostly for companies and financial or governamental organizations who can use it for auditing, developing or optimize their organization. Also it will work as a testing ground mostly to test smart contracts, develop or just to play around. Even though in most cases public chains are outstanding, it is equally true that in particular cases a greater control over the chain is imperative. We want to offer along with our platform a solution for both cases.



  • Alias System

We want to create an ALIAS system. It will work with a registration, similar to domains, to leave behind those long and tiring traditional adresses. This will benefit especially but not excusively to businesses who wish to join our network.


  • Decentralized debit cards

Debit cards were in our minds since day one, for it is one of the preferred payment methods of customers nowadays and we aim to mass market adoption, so this goal may not be too surprising. The idea is to eliminate all the intermediaries in the process in order to save time and money, and also the unwanted consequences that brings centralization (frozen accounts, delays, usage of our own private information, etc). Note that it will have disadvantages such as if you wish to create and load your own cards you will need to have a particular hardware. On the other hand, there will be lots of payment terminals/point of sale terminals that will receive a special update with a custom firmware made by us in order to accept our debit cards (this will happen with payment terminals/point of sale non- EMV compatibles). In most terminals compatible with EMV (for more information about EMV visit: http://www.emv-connection.com/emv-faq/ and https://www.level2kernel.com/emv-guide.html) will work without any problems but you can still use our firmware to have advantages like counting with Opair´s branding or offer high performance.    

It is a system that still needs work on optimization in further tests because we are running tests that run on approximately 8 to 9 seconds per transaction. Said function is going to be one of the first to be optimized in our Beta version (you can find out below how to participate on Beta version).  

Our final goal it is that any person can create their own debit card, anywhere, and a few moments later, carry it out and about without difficulties. We would like to be the firsts in launching this feature that we will be seeked and cherished in the near future and as we are an open source project we would like to share it to all the community as we understand this philosophy as a benefit that benefits the community as a whole. This will also allow growth, improvement and usage from other projects. We understand that Emunie is working in a similar solution but it still not publicly available therefore if we manage to keep it up and running steadily in first place, it will be brilliant. We would like to have a meeting, given the territorial closeness with Fuserleer, which can be very beneficial for both projects. We will try to arrange a meeting between Frank and Fuserleer in the future.  



  • Crowdfunding platform

We aim to create a platform that can boost any innovating idea that needs resources or budget to take off. You just need to set a goal, rewards and a deadline. Another perk is that you will find the security that brings a decentralized platform, open sourced and without intermediaries taking big percentages from investments.


  • Transactions speed and Scalability

When we speak of scalability, we must speak about one of the most important problems found in blockchains nowadays, that’s why we want Opair to be prepared since day one to support more transactions per second than Bitcoin’s network allows and to offer a top speed for each transaction (seconds, not minutes). This has to be a must-have if we want to reach all audiences and that it enables its use all over the world.  

Ideally we would like, for starters, to get a 200 tps and build up from there as usage grows (as a remainder Bitcoin’s network is restricted to a sustained rate of 7 tps due to the Bitcoin protocol restricting block sizes to 1 MB). Even though there are current solutions that offer 1000 tps  (or more) we believe that they are not following the line of work that we would like. We are taking into consideration a lot of elements like blockchain size, internet bandwidth, processing power, private chains etc., when it comes to outline the course that our solution will offer and analyzing the different alternatives on this subject. On the other hand, regarding private chains, as we said before each of them will be completely configurable under some standards in which the needs and goals of the creators will be reflected. Also given the features mentioned above, they do not have scalability issues, at least not in comparison to public chain.

More information will be available on our White Paper.  



  • Privacy Solutions

This is a distant future fieldwork because it is something we do not want to overlook but we understand there more pressing fieldworks before focusing on this matter.  

Speaking about current solutions we discourage the implementation of ring signatures because it “only” generates more layer of anonymity in transactions and not full anonymity. At the moment we do not have clear the path that we will establish in this matter and this will be something we will definitely define in the future given its importance.    

After analyzing current technologies, we consider Zcash proposal is outstanding and it is the only one that offers the level of anonymity that we want to give Opair. Zooko Wilcox and their team behind Zcash have a great solution in their hands and they are a sample of the innovation that can be achieved in that area. Any workthrough regarding the matter will be communicated through our media channels.

full member
Activity: 240
Merit: 100
I'm interested in the project but i wonder... What are the difference between OPAIR and others projects close to it, as stratis? why should we invest in OPAIR?  Huh
newbie
Activity: 7
Merit: 0
interesting project, go on..

Read first post on Spec title
What date will mining start  Huh

I read- •  Name: Opair (XPO)

•  PoW+PoS (Fairly distribution)

•  96,000,000 Total Coins

•  3% Annual Interest

•  Minimum Stake Age: 12 hours   

•  Block Reward: 55 coin per block – until 525600th block
   
•  Block Time: 60 seconds

But when will the POW mining phase begin to start mining them?
When and how POW will start!?

As soon as we finish the ICO distribution. As we have said, we will release a basic version of the platform when we conclude the ICO. Not defined yet, but in principle the phase PoW work with algo X13.

thanks Wink  I'd join in the ICO phase, but I have no extra $ to invest... so mining is my option Smiley
legendary
Activity: 1162
Merit: 1000
hero member
Activity: 630
Merit: 503
I'm getting excited for the 26th! you said the ICO will be handled manually, do you mean by PMs? please let me know.

In our platform, there is an option to add your generated XPO address. So, during the first days, you will be able to download a basic version of the client to generate your XPO address and after that, the distribution will be made within 24-48 hours.

interesting project, go on..

Read first post on Spec title
What date will mining start  Huh

I read- •  Name: Opair (XPO)

•  PoW+PoS (Fairly distribution)

•  96,000,000 Total Coins

•  3% Annual Interest

•  Minimum Stake Age: 12 hours  

•  Block Reward: 55 coin per block – until 525600th block
  
•  Block Time: 60 seconds

But when will the POW mining phase begin to start mining them?

Hey dude, do want a portuguese translation?
Call me if u need this.
Cya

Sorry, its already taken.

Will the Opair wallet be a software? or a website? the picture you posted on the thread looks much more like a modern website.

YIz, will be a software. The picture is just a prototype.

Any web wallet like LISK in the future maybe?

I agree, an addition of a web wallet is really good. especially when the blockchain becomes heavy and people don't use the currency solely because it takes too long to download.

Of course, there will be a web wallet.

Following with interest. Are you looking to register this as an official company/NGO?

We're studying our options as we said in the thread. We are evaluating the creation of a gGmbH, as soon as we contact the law firm will provide you more details of our options.

Read this please:



Will this Opaircoin on full feature released once the ICO has been completed? If not how soon will all its features will be fully implemented? Do you have any working roadmap as well?
Has it done some all kind of testing too? Thanks

Hi, I can not give you a date when it will be ready all our features. As we said, the first public beta will be available two weeks after the ICO and the first stable version two months later.
About our important features that I guess is what interests you, both the implementation of smart contracts and decentralized debit cards will be present from the first beta, which anyone can test them. Obviously from day 1 will not be complete and stable, so it is a beta. The decentralized debit cards are likely to be ready for the first stable version of the platform, but not the implementation of smart contracts as it involves a higher amount of working time, knowledge and development, given the language we are using.


Thanks for answering my question. That is good to know, will there be distribution of physical debit cards for this? How long will it take for the implementation of smart contracts then?

About your first question, you have two options. The easiest is to buy the smart card configured and loaded from a vendor, which can of course be recharged simply by yourself. The other option is to buy both the smart card and the reader to a provider (must comply with our requirements) and do it all on your own. This second option would not cost more than 100 usd. A good place to see hardware is: http://www.smartcardfocus.com.

The implementation of the smart contracts could take us from 2-3 months to 5-6 months. I think they are realistic dates for a product of this kind. You have to keep in mind that it is a huge work that lies ahead. We must do everything from scratch but we are confident that the wait will be worth it. However it is available in our beta for testing.

Have you discussed with CEO and HAO about distribution issue? IMO 26th is very near, so you guys should decide it asap. BTW, smart contract costs time, it is normal, we can accept this. Eth was developed for 1 year. So you are good enough.

Important Update

The PoW phase was stipulated to occupy 30% of the distribution during the period of 1 year but many people have complained that 30% via PoW may be manipulated by whales so after talking to Frank and Hao we reached a consensus on the new distribution. We have changed the official percentages of 70-30 to 91-9 (90.81 to 9.19 to be exact). And we continue to maintain 0% for us, as in the beginning.

Great decision dev. With this POS % it will be much better for investors.
sr. member
Activity: 476
Merit: 250
I'm getting excited for the 26th! you said the ICO will be handled manually, do you mean by PMs? please let me know.

In our platform, there is an option to add your generated XPO address. So, during the first days, you will be able to download a basic version of the client to generate your XPO address and after that, the distribution will be made within 24-48 hours.

interesting project, go on..

Read first post on Spec title
What date will mining start  Huh

I read- •  Name: Opair (XPO)

•  PoW+PoS (Fairly distribution)

•  96,000,000 Total Coins

•  3% Annual Interest

•  Minimum Stake Age: 12 hours  

•  Block Reward: 55 coin per block – until 525600th block
  
•  Block Time: 60 seconds

But when will the POW mining phase begin to start mining them?

Hey dude, do want a portuguese translation?
Call me if u need this.
Cya

Sorry, its already taken.

Will the Opair wallet be a software? or a website? the picture you posted on the thread looks much more like a modern website.

YIz, will be a software. The picture is just a prototype.

Any web wallet like LISK in the future maybe?

I agree, an addition of a web wallet is really good. especially when the blockchain becomes heavy and people don't use the currency solely because it takes too long to download.

Of course, there will be a web wallet.

Following with interest. Are you looking to register this as an official company/NGO?

We're studying our options as we said in the thread. We are evaluating the creation of a gGmbH, as soon as we contact the law firm will provide you more details of our options.

Read this please:



Will this Opaircoin on full feature released once the ICO has been completed? If not how soon will all its features will be fully implemented? Do you have any working roadmap as well?
Has it done some all kind of testing too? Thanks

Hi, I can not give you a date when it will be ready all our features. As we said, the first public beta will be available two weeks after the ICO and the first stable version two months later.
About our important features that I guess is what interests you, both the implementation of smart contracts and decentralized debit cards will be present from the first beta, which anyone can test them. Obviously from day 1 will not be complete and stable, so it is a beta. The decentralized debit cards are likely to be ready for the first stable version of the platform, but not the implementation of smart contracts as it involves a higher amount of working time, knowledge and development, given the language we are using.


Thanks for answering my question. That is good to know, will there be distribution of physical debit cards for this? How long will it take for the implementation of smart contracts then?

About your first question, you have two options. The easiest is to buy the smart card configured and loaded from a vendor, which can of course be recharged simply by yourself. The other option is to buy both the smart card and the reader to a provider (must comply with our requirements) and do it all on your own. This second option would not cost more than 100 usd. A good place to see hardware is: http://www.smartcardfocus.com.

The implementation of the smart contracts could take us from 2-3 months to 5-6 months. I think they are realistic dates for a product of this kind. You have to keep in mind that it is a huge work that lies ahead. We must do everything from scratch but we are confident that the wait will be worth it. However it is available in our beta for testing.

Have you discussed with CEO and HAO about distribution issue? IMO 26th is very near, so you guys should decide it asap. BTW, smart contract costs time, it is normal, we can accept this. Eth was developed for 1 year. So you are good enough.

Important Update

The PoW phase was stipulated to occupy 30% of the distribution during the period of 1 year but many people have complained that 30% via PoW may be manipulated by whales so after talking to Frank and Hao we reached a consensus on the new distribution. We have changed the official percentages of 70-30 to 91-9 (90.81 to 9.19 to be exact). And we continue to maintain 0% for us, as in the beginning.
hero member
Activity: 1064
Merit: 500
interesting project, go on..

Read first post on Spec title
What date will mining start  Huh

I read- •  Name: Opair (XPO)

•  PoW+PoS (Fairly distribution)

•  96,000,000 Total Coins

•  3% Annual Interest

•  Minimum Stake Age: 12 hours   

•  Block Reward: 55 coin per block – until 525600th block
   
•  Block Time: 60 seconds

But when will the POW mining phase begin to start mining them?
When and how POW will start!?

As soon as we finish the ICO distribution. As we have said, we will release a basic version of the platform when we conclude the ICO. Not defined yet, but in principle the phase PoW work with algo X13.
newbie
Activity: 7
Merit: 0
interesting project, go on..

Read first post on Spec title
What date will mining start  Huh

I read- •  Name: Opair (XPO)

•  PoW+PoS (Fairly distribution)

•  96,000,000 Total Coins

•  3% Annual Interest

•  Minimum Stake Age: 12 hours   

•  Block Reward: 55 coin per block – until 525600th block
   
•  Block Time: 60 seconds

But when will the POW mining phase begin to start mining them?
YIz
hero member
Activity: 686
Merit: 502
I'm getting excited for the 26th! you said the ICO will be handled manually, do you mean by PMs? please let me know.
legendary
Activity: 1358
Merit: 1001
So ICO starts in 2 days,will be interesting.
hero member
Activity: 742
Merit: 501
interesting project, go on..

Read first post on Spec title
What date will mining start  Huh
newbie
Activity: 12
Merit: 0
can i please reserve the greek translations?
-----------
done Cheesy
that was way more difficult than i thought!
full member
Activity: 206
Merit: 100
While men's faith is down, I rock my own w my lovr
newbie
Activity: 7
Merit: 0
What date will mining start  Huh
hero member
Activity: 994
Merit: 513
(snip)

Question: if 70% is being offered in the ICO and 30% is reserved for PoW/PoS (and 1,000 or 0.001042% for translation bounties - are there more?), what are the devs reserving?  How are the devs being compensated for their work?  (Also a risk factor in the success/failure of a project.)

Well, they will keep none of the tokens for themselves, but plan on buying some after the ICO. They are compensated with the ICO funds, I guess?
I'm not too keen on them effectively buying back tokens, I must say. Was discussed on the previous page, actually (or the one before that). 
newbie
Activity: 16
Merit: 0
What price ico of OPIR and any minimum to buy token?

Thanks!

Ophir is a startup concept - a good concept.  Valuation needs to keep in mind it is only a concept right now.  How many tokens will be released in the ICO and what will be the yearly inflation of the mined coin?

The value per token is determined by the amount of BTC invested during ICO, like Lisk, Rise, Waves et. al did.

Around 30% of the total coin supply will be mined using PoW, this PoW phase ends after a year. (60 seconds block time, 55 tokens per block)

There is PoS with 3% annual interest, what that means in newly generated coins is not easy to determine.

Pro Tip: read the first post of an ANN thread.
It's all written in the First post, actually. Took me like 30 seconds to find it.

Agreed.  70% of coins will be on offer for the ICO.  3% annual inflation (interest for PoS holders).  The free market offers are hard to judge.  Herd mentality will probably pump the valuation up.  Lisk and Waves are way overvalued at their stages without market validation.  Look at Factom for fair valuation with both a successful proof of concept released and market validation.  I think Decred and Expanse are very likely overvalued at their stage compared to Shift.

If I were participating in Opair as an angel in a traditional company, I would be very hesitant to value the concept for more than $250K tops at this early stage.  That's roughly 270 BTC raise for the ICO.  Rule of thumb is just enough for the devs to prove the concept. 

Question: if 70% is being offered in the ICO and 30% is reserved for PoW/PoS (and 1,000 or 0.001042% for translation bounties - are there more?), what are the devs reserving?  How are the devs being compensated for their work?  (Also a risk factor in the success/failure of a project.)
sr. member
Activity: 448
Merit: 250
Bitcoin super-duper-mega-ultra-hyper-node
so excited, i'm participating in the signature campaign. Hopefully it will be a success.
For all users, do you have any idea how much they will get?
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