Bitcoin Forum

Javacoin is created to be a cryptocommodity




Abstract

The growth of crypto-economy has been exponential with Bitcoin leading the masses. Blockchain technology is the driving force behind all of it, paving the way to support the significant digital transformation from finance, to healthcare and the music industry, even politics. The core concept that drives its adoption is an open distributed ledger that holds a complete historical record of every transaction that promises integrity in its verification process within a peer-to-peer network. Each coin is competing against each other in a race of adoption that would mean sustainability. Javacoin is leveraging on this technology, along with its unique positioning, to become a secure & reliable digital asset that will reshape the digital economy.






Introduction

Paradigm Shifts

Javacoin is created to be a cryptocommodity.

That is our core beliefs. In fact, all other crypto coins which label themselves as “crypto currencies” will never replace fiat currencies. To be functional, money has to have three intrinsic qualities :

Medium of exchange
It is true that more merchants are starting to accept crypto coins as a payment option (Google has launched its payments API with Bitcoin, Amazon is rumored to soon start accepting payments in Bitcoin, etc) which makes this crypto similar to fiat currency. However, this is only one side of the coin. Due to high volatility, it is impractical to denominate goods or services in crypto coins. Bitcoin being the example, at the beginning of the day we might price a goods at 1 BTC, but due to daily fluctuations (that can range up to 30 to 40 percent), at the end of the day it should cost 1.5 BTC. To put this into perspective, the daily exchange rate between USD and EUR is on average 1 to 3%.

Unit of account
In economics, a unit of account denotes a nominal monetary unit of measure or currency used to represent the real value of any economic item such as goods, services, assets or liabilities, income, expenses. By referring only to volatility, we should understand that crypto coins does not meet this criteria. No lenders use crypto coins as the unit of account for such things as consumer credit, loans or mortgages, nor are credit or debit cards denominated in crypto coins, per se (you can spend your crypto coins, but the real transactions happen in fiat since the crypto coins is sold on the back-end).

Store of value
By definition, a store of value should be stable in value, crypto coins definitely does not meet the criteria. It’s value is extremely volatile.

After taking a look at the key attributes of a currency, the proper mindset to own Javacoin is not to use it as a currency, but to invest on its increasing value. Javacoin is created to be a digital commodity that one trades and invest in, just like gold, oil and coal. With the help of networking, rising interest from investors, as well as more crypto-friendly regulatory framework, we envision Javacoin to be a secure & profitable digital asset.


Javacoin : The gold of internet

Javacoin is The Gold of Internet.

Society can rarely move forward without learning from the past, because past events teach us how to better approach present situations. In this digital era, everything that used to be tangible are recreated, modified and often enhanced to a digital version. Social media reshape the experience of a physical networking, e-commerce supports businesses to grow and reach their market exponentially, virtual and augmented reality enables builders to visualize project in an immersive ways, artifial intelligence acts as personal assistant to every facet of our everyday life.

At Javacoin, we believe that the same revolution is starting to happen in wealth and investment assets. We believe that crypto coin is at its early stage of becoming the new gold, a prominence digital wealth asset that will reshape the economy. Once, gold was the hedge against uncertainty, the asset where investors could park their wealth in times of political and economic turmoil. Now crypto coin is taking its place, as evidenced by the significant value growth of the asset since the first crypto coin was created back in 2009.

Here are some characteristics of crypto coins that justifies our positioning of Javacoin as the gold of internet, which resembles the characteristics of a tangible gold :

The "minerals" of internet
The internet, or world wide web, serves as the virtual sphere of every digital activities just like earth as a realm to every life. While earth has minerals such as coal, oil and gold; the internet has cryptography as its most valuable elements.

How to obtain crypto coins
One can obtain gold through person-to-person transaction, buy from merchant, or by mining the gold. The same channel goes with crypto coins, one can acquire coins through peer-to-peer transaction, buy from an exchange, and mine the coins theirselves.

The production method
Gold mining can be done with a simple shovel and gold pan, scaling up to a massive mining facility with heavy drill rigs. As for crypto coin, it can be mined using a simple USB drive and stacks of VGA card, up to a gigantic mining farm with millions of GPU card stacks.







Technological Foundation

Overview

A Javacoin doesn’t exist anywhere per se, at least not in the traditional sense of physical commodity. In simple terms, Javacoin is an electronic “coin” which serves as a chronological series of verified digital signatures. Owners digitally sign a hash of the previous transaction and add a public key of the next owner to the end of the coin. A recipient of the coin can verify the signatures in order to verify the chain of ownership.

To illustrate, think of Javacoin as a FedEx package that you sign at your doorstep before sending it to a forwarding address. But the difference is that a publicly-available ledger is placed right on the packing slip which shows the entire history of all prior deliveries of the same package. The information includes all originating addresses as well as timestamps detailing where and when exactly each delivery took place. Such a comprehensive audit trail would provide assurance to both recipient and the entire network that the chain of deliveries/transactions is accurate and secure.


Double-spending & Fraud Prevention

A timestamp server will take a hash of a block of items and publicly announces the hash. The timestamp proves the existence of the data at the time. Each timestamp includes the previous timestamp in its hash. And each additional timestamp reinforces the ones before it. This sequence forms a chain. The timestamps are key to preventing double-spending and fraud. It’d be virtually impossible to send duplicate coins because each coin contains different, chronologically-ordered timestamps. Back to the analogy of a FedEx package, each delivery would contain a unique timestamp on the packing slip, and that would mark the exact time of each and every delivery on the public ledger.


Transaction Validation

A hash created by a timestamp server is assigned a unique number that is then used to identify the hash in the blockchain. Inherent in this unique number is a math puzzle that a computer must solve before a transaction can happen. Once a correct answer is given, it serves as validation that the specified work has been done.

When someone sends a Javacoin, they must take a hash’s unique number and solve an inherent math puzzle. The answer is then passed to the recipient to check if the solution is correct — an important validation step. If the answer is correct, the payment/transaction takes place and adds to the length of the blockchain. If not, the proposed transaction is rejected. An attacker would have to redo all the completed puzzles and then surpass the work of honest CPUs in order to create a longer chain — a feat that would be extremely unlikely if not impossible.


Privacy

With a peer-to-peer network, privacy can still be achieved even though transactions are announced. This is accomplished by keeping public keys anonymous. The network may be able to see payment amounts being sent and received, but transactions are not linked to identities. Additionally, a new private key should be used for each transaction to avoid payments being linked to a common owner.

WhitePaper
https://javacoin.co/Javacoin-WhitePaper-V2-english.pdf (https://javacoin.co/Javacoin-WhitePaper-V2-english.pdf)


ICO Overview

Total coin released at ICO
5,000,000 JVC

Coin price
ICO Coin pricing will be: 1 JVC = start from USD $0.7 to $1.8

Accepted crypto coins payment for ICO
BTC & ETH

Accepted Nationalities
Every nationalities except People’s Republic of China


Specifications of Javacoin

Coin Name
JAVACOIN

Coin Abbreviation
JVC

Algorithm
Scrypt  SHA-512

Type
PoW/PoS Hybrid

Max Supply
22000000 JVC

Premine Percent
20%
Premine Amount
4400000 JVC

Block Reward
10 JVC

Coinbase Maturity
20 Blocks

Block Spacing
5 Minute

Max. Block Size
8 MB

Transaction Confirmations
6 Blocks

Transactions fee   
0.0001


Source Code
https://github.com/javacoin-jvc (https://github.com/javacoin-jvc)

Web Wallet
http://javacoin.id/ (http://javacoin.id/)

Block Explorer
https://block.javacoin.id/ (https://block.javacoin.id/)


Roadmap

Q4 - 2017
Recruitment
Feasibility Studies to help team connect to exchange information on a POS Network
Website  and Web Wallet development
Platform will be tested and run on the PoS System
Whitepaper preparation
Web Wallet launching
DdoS Attack Protection
Initial Coin Offering (ICO): 2 million coins will be sold

Q1 - 2018
Introductory video launching
Coin listing process
JVC Android
Send & receive Javacoin from Android
(Coming Soon)

Q2 - 2018
Marketing Campaign
Community building, press release, social media campaign, online & offline marketing
Promoter recruitment
Desktop Wallet launching for Windows (Coming Soon)
Promote JVC on Asian market: Indonesia, Malaysia, Thailand, Korea and Japan
Launching Javacoin educations on YouTube channel

Q3 - 2018
Ceremonial of Javacoin Local Community
Ceremonial of Javacoin Community
Javacoin community Bali Trip
International conference
Server upgrade
Javacoin 1st anniversary celebration

Q1 - 2019
Server upgrade
New website design
Game development
Marketing campaign expansion: Europe and Africa

















References

[1] Nakamoto, Satoshi, Bitcoin: A peer­to­peer electronic cash system, 2008. ­ (https://bitcoin.org/bitcoin.pdf)

[2] McCue, T., Why Don’t More Small merchant Accept Credit Cards, 2013. (https://www.forbes.com/sites/ tjmccue/2013/08/16/why-dont-more-small-merchants-accept-credit-cards)

[3] Brennan and Lunn, Credit Suisse Equity Reports - Blockchain - The trust disruptor: Shared ledger technology and the impact on stocks, 2016. ­ (http://www.the­[Suspicious link removed]/docs/Credit­Suisse­Block chain­Trust­Disrupter.pdf)

[4] Eufemio, Chng and Djie, Digix: The Gold Standard in CryptoAssets, 2016. (https://dgx.io/whitepaper.pdf)

[5] Tapscott, D. and Tapscott, A., Realizing the Potential of Blockchain. White Paper Publication at World Economic Forum, 2017.

[6] Buck, J., ICO Funds Pass VC Funding, Filecoin Adds More, 2017.





Website:
https://javacoin.co/

Web Wallet
http://javacoin.id/ (http://javacoin.id/)