I've filled out the 'What is PoT / PoP / PoI ?' page on our wiki (
http://wiki.crypti.me/index.php/What_is_PoT_/_PoP_/_PoI_%3F)
This helped me understand better what you guys are doing here, and I'm really happy that I learn to know about this project in it's early stages. go Crypti.
I took the content mainly from the whitepaper and removed some duplicates to make it more coherent and assertive.
I've also made some few remarks of my own, and my English sometimes may not be 100% so
please take a look for inaccuracies.----------------------------
What is PoT / PoP / PoI ?Proof of Time, Proof of Purchase and Proof of Merchant ID are the innovative custom designed hybrid algorithms Crypti uses for its system and what makes the Crypti truly unique:
Encouraging commerce, supporting merchants that supports the network, and rewarding those who help keeping it secure and active.
Proof-of-Time:The PoT algorithm will determine it’s weight based on a node (system with a running wallet) up-time. the more nodes that we have running, the more secure and stable the network will be. The user will be rewarded a cumulative weight for helping and secure the long term success of the Crypti network simply by being connected to it. It will run completely in the background, be able to run on a system as small as a Raspberry Pi, and eventually will even be able to run on an android phone without effecting bandwidth or use noticeable GPU / CPU horsepower.
Proof-of-Purchase:factored slightly less important than the PoT weight accumulated, The PoP algorithm will reward purchase activities to validated merchants. It will be used to lend a weight based on the amount of currency you have spent to a validated merchant account since your last block reward. By spending Crypti, you are generating transaction fee’s which will be re-distributed to someone in the network who much like you, rewarding merchants who have chosen to be pioneers and take the leap to accepting Crypto Currencies for payment.
Proof-of-Identity (or Validated Merchant):
PoI is The third major feature of Crypti and is something that we are really excited about- owner of stores would register with the Crypti network and provide details such as the owner, store name, and website address, which would then be tied to their wallet address in the Crypti network. built in ratings and review / comment system supported by and logged in the actual Crypti block chain would ensure that we were only giving fees to valid merchants and not simply every user who received a transaction. Actual validated Merchant running a storefront accounts will be rewarded by 50% of the transaction fee to our merchants as a bonus for being a part of our network and accepting Crypti as a payment method. This will reverse the current paradigm that the merchant need to lose a certain percentage for receiving funds trough a payment method. This will propel the Crypti network to the top of the game.
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In conclusion: Some may say current cryptocurrencies algorithms reward hoarding and stagnation. Crypti creates those algorithms to to keep its network active, moving and expending.