BlackChain is decentralised blockchain-based money, usable as a unit of account and a medium of exchange.No premining, no ICOBlackChain creation is completely controlled by market actors. The creators of BlackChain have no more say in how many BlackChain there are than anyone else.
Open-sourceBlackChain is an open-source software that. Everything is open and public. Don't like the color of the button? No problem, you can change it. Want to introduce KYC/AML regulations? Feel free to fork your version and implement them. Good luck convincing others to use it though...
Frequently asked questionsDoes this project require the Bitcoin price to rise forever?
No. If the price of Bitcoin rises, the minters can get back their excess backing (in the form of Bitcoin collateral that is excessive or as a newly minted tokens). As we use heavily smoothed price, the minting rate will almost always go down. For example as we write this, Bitcoin is around $7000, but our exponentially smoothed price factors in history and is around $700. So as long as the price of Bitcoin does not fall under $700, the smoothed price will rise. We want the backing to be stable and sufficient; we are building a stablecoin after all. So as time goes on, the minters will get back their excess backing as long as Bitcoin price does not fall down significantly.
That being said, our paper discusses what happens in case of significant drops in price of Bitcoin and we believe the fundaments of BlackChain can survive even in these scenarios.
How do you expect to build network momentum to Coins BlackChain tokens accepted above other competing stablecoins?We are honestly no marketing wizards, but here are a few reasons why we think we might get traction: First of all, our model does not depend on a huge number of minters and huge market. As the currency is backed by bitcoin, it has minimal value from the start (guaranteed by the possibility to claim Bitcoin backing). So even with minimal network, even the first token has a minimal value.
The second reason we believe BlackChain might be successful is the fact that it is an open-source project with no preferential treatment. It does not depend on whales, venture capital support or big player that will spread the word. Even we, the authors, don't have any sort of preferential treatment by the smart contract or the ecosystem and there are no fees charges by the smart contract. We would like to use this as a tool. We believe that this community aspect mirrors the original vision of Satoshi Nakamoto and Bitcoin and projects like Monero that are built and spread by the community of developers and users. We hope to gain trust by showing we can build and deliver a functioning product that we want to use ourselves and we welcome contributions, forks, pull requests to serve the blockchain community.
That being said, we are not "against" competition. We just believe that blockchain world needs a stablecoin and that it does not matter if it is us who brings it to the world or our "competition". We wish all stablecoin projects good luck and if someone creates something better, we will use it ourselves.
Who is working on the project?You!
Jokes aside. The original authors prefer to stay anonymous. It is not about us. We want to make the parallel financial system more usable and for that we need a stable unit of account. That is our goal. The original idea was created by and consulted with programmers, economists, Bitcoin investors, mathematicians and other smart people. We welcome any contributions and are open to suggestions.
What are the next steps?We are working on an implementation that will run on BlackChain platform. At the same time we are looking for feedback on the whitepaper to make sure we can explain the project and the mechanics of it and find and fix all the bugs. If you have any kind of concern, suggestion, idea or question, please contact us. We promise you will soon have something to play with and we will have a decentralised stablecoin for world-wide use in no time.
Amount: 91000000
Algo: Scrypt
Exchange: We are negotiating with a promising market
Website: https://blackchain.xyzGithub: https://github.com/blackchain-xyz/blackchainWallets: https://github.com/blackchain-xyz/blackchain/releasesDiscord: https://discord.gg/UqMaymXExplorer: https://explorer.blackchain.xyz/Explorer https://smithpool.net/explorer/BLCMining: Solo Inside the wallet
Pool: https://altcoinpool.ru/Pool https://MasterPRO.bestPoolhttps://smithpool.netaddnode=black1.blackchain.xyz
addnode=black2.blackchain.xyz
addnode=black3.blackchain.xyz
RPC port: 9332
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