This is correct!  The developers at C-Cex have been working extremely hard with the lead Mastercoin dev to get things up and running.  Everything is going smoothly.


Chris

Check out this interview on the Prozcoin Team:

http://www.cryptotycoons.com/2014/08/prozcoin-a-coin-for-the-masses/?utm_content=buffer2781f&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

PROZCOIN: A COIN FOR THE MASSES
August 19, 2014

INTRODUCING PROZCOIN

Does a strong social network presence, a relatively large ecosystem at launch, and an open Dev team spell success? We here at CryptoTycoons thank so!

ProzCoin is an all new altcoin based on the MasterCoin algorithm with some PoS thrown in. Once complete, it’ll use an innovative new mining protocol called Proof of Action (POA) that pays out based on hours spent mining other coins at ProzCoin rather than  using the more traditional hashrate payment schemes! On top of the innovation, the developers have added legitimacy to this brand new coin  by revealing their real identities by posting and confirming their linked in accounts! Each developer brings a skill or service to the coin, making this one of the most well rounded coin launches we’ve seen in weeks!

So read on to check out our exclusive developer Interview!





Earlier today we had the opportunity to speak with the developers of ProzCoin! We hope that this article helps clarify any questions you may have. We here at CryptoTycoons were intrigued with the PoA system that ProzCoin brings to the table, as well as how open the developers are being. Publicizing their identied adds a sense of .

 

kudos to going public with your identities! It adds a lot of value to your coin! Do you have any concerns with going public with your identity? Are there any risks involved In your opinion why don’t more coin developers do it?

We wanted to embrace transparency as part of our main tenet of the Coin Proz organization, so releasing our identities was never an issue.  No more risk involved than having a public record as far as I am concerned.  I believe a lot of developers are afraid of the public backlash at the prospect of failure, and would rather not have any failures associated with their name.  I understand on one hand, but feel it’s a hindrance to actual development if you can’t trust the developer to be who they claim to be.


What inspired you to create ProzCoin?

The Coin Proz team is focused on making cryptocurrency accessible to the masses.  Our network is built around focusing multiple crypto communities in the same direction, and ProzCoin is the main currency that will be used within the economic infrastructure.  We have established a network of merchants, websites, and services that accept our coin from day one, and plan to create payment software and hardware to bring cryptocurrency to businesses and citizens, and in the process our community will give them access to all the different communities in crypto through our portal.

Are you, or your team affiliated with any of the merchants that agreed to pick up your coin immediately?
All of the initial merchants are official affiliates of the Coin Proz network.  Myself(Chris Bates) and Tim Frost are co-founders of Cryptoshoppers, and I also have been handling some PR and Social media for Left Turn Only Tv.  Erko Elblaus who is the lead UI/graphic designer for Coin Proz is the owner of Elblaus Designs.

Some people are worried about how many coins the developers will have on hand at any given time. How will you put to side these concerns?

We have already planned on putting any unallocated coins into a publicly visible escrow account, and plan on having complete transparency for every coin

How does the POA system work to increase the value of ProzCoin?

The idea of PoA is that By creating a reward system that takes a set of given “actions”(PoA), whether posting on a forum, writing an article about your favorite coin, or even mining, and quantifies the action relative to some metric of user feedback to “prove” that the action had merit and quality.  So users won’t simply get rewarded for posting on the forum, but only if you make posts that get upvoted will you get a reward.  By having this reward system that encourages the involvement of EVERY coin community, the limited number of coins should theoretically increase in value as the ProzCoin infrastructure grows larger, and the limited supply is further distributed.

Which coins will have a ProzCoin POA pool at launch time?

The PoA/PoW mining pool is still in development for CoinProz.com.  Upon completion the system will allow any coin that has the capacity to have PoW mining give a dual PoA/PoW score in our pool.  The merged mining pool is one of the projects that we hope to complete within the next few months with the capital from the ICO.

Do you, or any of your team have experience with developing for any other coins? Care to share which ones?

Shannon Code is a developer evangelist for the Mastercoin Team.  I did PR for Marinecoin, and commissioned Left Turn Only Tv for one of their Promo videos: https://www.youtube.com/watch?v=tbItDaNNAZU

What can the community do to help this coin succeed?

There is a limited supply being sold through Cryptoshoppers, and then the rest of the coins allocated for raising capital will be sold on exchanges.  When PoA is implemented in the first round, the community will then be able to help by participating in any way they feel and get rewarded in ProzCoin!


Is there anything else you would like to say?

The Coin Proz team wants to be at the forefront of innovation and community involvement.  Our long term goal is to establish a positive environment for the entire crypto community.  No coin is excluded.  We also want to develop software and hardware that will make cryptos more safe, accessible, and bring greater worldwide adoption.

It is orchestrated FUD

I am not debating their points, but instead every time they post something it actually gives a chance to point out why we are legit

No worries here.

Chris

Not sure you understand what has happened.

 

Chris

Show me one coin that has bothered to file with FinCEN  

And no, we are not selling shares in the company, so it's not the same as selling shares by any means.

I am not sure you are aware what constitutes securities fraud.  

If you are not aware, Prozcoin is NOT a share in Coin Proz Oy, but it will be transferable for shares when shares are issued.  What we applied for will allow us to sell shares in Coin Proz Oy on the American market.  This is how the process works.

 


Chris

Oh man...So, we did this thing called a "Giveaway", and generated a TON of new ProzCoin wallets:

https://twitter.com/search?q=%23prozcoin


"#Flash #Giveaway #flashgiveaway
100 #ProzCoin to first 100 to #RT and set up wallet at https://www.omniwallet.org/
#bitcoin #cryptocurrency #btc"

100 X 100 = 10,000

Chris

Small Updates:

Filing with FinCen to cover bases to ensure 100% we don't get any legal troubles from US/SEC.  Also, working on hardware algorithms/specs/schematics to prepare attempt at filing patent.  Stay tuned!

"Once you have successfully logged into the system, please click on the "Next Steps for Using BSA E-Filing" link in the upper left hand corner of the application for detailed information about using the BSA E-Filing System and electronically filing your BSA reports."

To be clear, the 1Proz Account which holds most of the coins is public, and has always been public:

http://www.svallet.info/addr/1PRozi3UhpXtC4kZtPD1nfCFXJkXrV27Wp

Prozcoin lives on top of the Bitcoin blockchain.  People who are securing Bitcoin are by proxy securing Prozcoin.  As long as Bitcoin blockchain is being secured, Prozcoin will be secured.

Chris

Since we are using Master Protocol and our lead of R & D is a developer/head of security for Mastercoin, the Mastercoin developments are directly relevant to ProzCoin.  Here are some updates about the Omniwallet and development from the Mastercore team:


http://blog.mastercoin.org/2014/08/29/development-update-pulling-the-pieces-together/

DEVELOPMENT UPDATE: PULLING THE PIECES TOGETHER

Hello, Masterminds!

As each week comes to a close, I like to see all the various pieces of the Mastercoin project pointed in the same direction, and this week was no disappointment. The team released a new Omniwallet milestone release and continues forward towards our next Master Core release.

We’re extremely fortunate to have an internal integration team for Master Core: Omniwallet is a great use case for what web wallets and exchanges need from Master Core in terms of functionality and visibility. The collaboration between the teams has helped refine our priorities and schedule, and with additional feedback from 3rd-party integrators, our targets for each Master Core milestone becomes more clear.

This week our focus has been on several fronts: the new database backend for Omniwallet, OmniEngine, the RPC layer of Master Core, the persistence engine behind Master Core, the MetaDEx internals, the Master Core UI, and a new asset issuance type.

For Omni’s database, we’ve been parsing and importing blockchain data and are creating the queries to pull the data. Having the blockchain data accessible in this fashion will enable some impressive visualization and information tools (such as an enhanced block explorer) as well increasing responsiveness.

The RPC layer of Master Core continues to get additions, guided by Omni, exchanges and requests from experienced traders. The MetaDEx RPC template is a work in progress.

On persistence, we’ve made progress exposing some of the state values from internal parsing operations so that users can get more atomic data. We’ve also worked to more elegantly handle blockchain reorgs and orphans here.

The Master Core UI continues to progress, with work on the Balances screen and updated iconography. Our target for the next release will include the ability to see token balances and to send transactions for any Master Protocol token.

300 Satoshi/Proz.  about 3% of the coins are sold already, so the ICO will be about 17%


Chris

Oh, we are working on many things actually  I like to be as transparent as possible, and if people are trolling I just respond with the awards teams I have been involved on have achieved, as it is probably the most appropriate time to post such things.  Shannon is working on the Mastercoin/Prozcoin wallet and as he pointed out earlier that should be done next week some time.  

These past couple days, I have been doing some heavy research for part 8 of a series on economic history in addition to working on the ProzCoin development, so there are tons of things going on.

Shannon Code is working constantly on new developments for the Mastercoin and ProzCoin teams.  The Omniwallet just received some major updates, and client should be done very soon!  Check out the Mastercoin blog for more:  

http://blog.mastercoin.org/2014/08/27/omniwallet-milestone-v0-16/  


Chris

I never claimed to be "famous" within the Bitcointalk forum, OR the cryptocurrency community.  I have been writing articles for The Coin Front for many months, which can easily be verified.

Poloniex was in talks to hold the escrow account for 78% of the coins in a public account, as everything is Public

http://www.svallet.info/addr/1PRozi3UhpXtC4kZtPD1nfCFXJkXrV27Wp

We have had the account public the entire time.  You can check the account ANY TIME

The developers were only going to get 10% over 3 years total, which is 3%/person. 


Chris

Here is an article I wrote concerning economic cycles:

http://thecoinfront.com/back-to-the-future-boom-bust-rinse-repeat/

"In previous installments of this series, the Gold Rush was used as a historical parallel to show the potential growth that can happen in a society with a free market and a sudden injection of capital. This historical precedent was not only appropriate to show the potential of new capital, but it also shows the potential mistakes that can be made from too much or too little regulation.

It’s impossible to determine true causative relationships on a macro-economic scale. But there are still clear connections that can be made on this scale that have enough evidence to support retrospective assertion of a direct relationship.

In this chapter, we will step forward through time, starting at the end of the Great Depression, and end at the government imposed dissolution of the monopolized conglomerates that had formed in a new era of a loosely regulated economy.

The regulatory period post Great Depression is a perfect historical precedent to show how the regulation of crypto-currencies could either spell the end of the new technology, or prevent massive exploitation of individuals and organizations.

In modern society it seems impossible to have absolutely no regulation of Bitcoin, as many governments have shown they will not allow Bitcoin to exist without imposing their rules. In the face of this reality, the special interests of the US, Chinese, and Russian governments and their respective central banks seem to be threatened by the mere existence of Bitcoin.

With the world’s major superpowers threatening to legislate the banning or extreme taxation of cryptocurrencies and the recent joint effort of the Department of Justice and banks nationwide called Operation Choke Point, it could be reasoned based on historical precedent that the legislation in a nearly free market with new capital injection will have the new capital forcibly transferred to the state under threat of fine or jail time using ethical grounds as the driving force behind the laws.

In a previous article, we talked about the legislation in which the US government made owning more than $100 worth of gold illegal. This forcible removal of capital was said to have been for the greater good of the state, but history shows the overall benefit from this redistribution of wealth was short lived, as the government needed to immediately bolster a failing economy with the Works Progress Administration which established the government as the largest employer in the country.

While the government sanctioned theft of gold from the citizens was clearly a misuse of regulation, it cannot be ignored that at the turn of the century, major conglomerates were using unethical practices such as child labor, sweatshops, undervalued scrips as compensation, and complete disregard for worker safety to such an extreme that the nation demanded intervention. Although labor unions in America had formed in the mid-19th century, it was not until the early to late 20th century that they gained more traction and their influence over trade practices became strong enough to make a change.

During the period in which the New Deal was drafted, the National Labor Relations act came out as well. It was enacted to protect the rights of unions in America. While the WPA may be considered a misuse of funds by some, in the short term, it put government funds directly into the hands of individuals for labor, goods, or intellectual property, and did not rely on the Keynesian principle of trickle-down economics to distribute tax dollars into the economy.While the government was directly paying citizens for work, the anti-socialist movement attempted to establish a hard line between government and private sector, but would allow for subsidies to take place.

The back and forth swing between an unregulated free market and the socialist idea of forced redistribution of capital for the greater good allowed large conglomerates to monopolize industries using unethical practices.As a result the exploitation by these corporations created a political climate in which the citizens were behind a government legislated seizure of the monopolies’ capital.

As the American media and communication infrastructures grew into monopolies, regulatory bodies and legislations would be established as extreme countermeasures, to the extent of instituting government censorship on frequent occasions. While historical censorship may not seem to be immediately relevant to Operation Choke Point, understanding how information was filtered in the early to mid-1900s gives a clear example of how government media manipulation precedes forcible redistribution.

During World War I, the United States established heavy censorship around speech and film. On the tails of the war and the First Red Scare, the limits on speech were established in the name of keeping military secrets, and the limits on film were established as film was not recognized as art and therefore not protected by the first amendment.

The government went so far as to establish an Office of Censorship, which censored the journalists, the media, and all communications going in and out of the country. Two years after the closure of the OOC, the loosely monitored Central Intelligence Agency was established as the new agency to control the information flow in the United States.

In the decade following these unprecedented levels of censorship, McCarthyism emerged in the form of a heavy handed government willing to imprison citizens and seize their bank accounts asserting that any American under suspicion of being an enemy of the state was subject to the aforementioned punishments.

As the military industrial complex began to take hold of the government, the clash of domestic interests and international investments came to a head when Richard Nixon once again removed the United States from the Gold standard disrupting local and global economies. Conveniently, the US no longer had to honor its debts in gold, as fractional reserve banking had left the central bank with more debt than assets. To pay back debts, the US printed more money and drastically inflated the amount of currency in circulation, devaluing the dollar in the process.

In the next article, we will see the US government turn its focus back towards domestic corporations, and begin a new wave of regulation that would once again decentralize monopolies. We will also examine a major paradigm shift in infrastructure with the dawn of personal computers, cable television, mobile communication, and the creation of the internet."

While it would be great to be on Poloniex, jumping through hoops to get their approval is not something we are interested in doing.  The coin is completely transparent.  The Coin Proz team is completely transparent.  The idea that somehow we need to get our identities validated through Poloniex or somewhere else would completely contradict the point of being transparent in the first place.  Anyone who questions the validity of anything stated can contact myself at Chrisbates01@gmail.com, or go ahead and do some research.  In the mean time, here is a link to a paper I co-authored while I was working in an fMRI laboratory, doing human subjects research.

http://www.ncbi.nlm.nih.gov/pmc/articles/PMC2577936/

Chris

Here is another project I was heavily involved with:

http://en.wikipedia.org/wiki/GameZombie

"GameZombie TV is a web series that produces original video game shows. GameZombie was the recipient of a Webby Honoree Award for Online Video in 2008 [1] and 2009,[2] a Davey Award, a Webby Award, and a People's Voice Webby Award in 2010, and nominated a finalist for Best Web Video at the 4th Annual Mashable Awards.[3][4][5][6] The student-run game media studio, based out of the University of Wisconsin at Whitewater and Indiana University at Bloomington, has amassed one of the most complete video game developer interview series on the web.[7][8] GameZombie has created upwards of 450 videos for online distribution.[9] GameZombie's videos have amassed over 8,000,000 unique, aggregate views since the company's first video went online in March 2007.[10][11] GameZombie TV's constructivist, project-based learning environment is a finalist for the MacArthur Foundation's 4th Annual Digital Media and Learning Competition [12][13][14][15]"

http://www.killerstartups.com/Video-Music-Photo/gamezombie-tv-videogame-reviews/

http://journalism.indiana.edu/classwork/bloomingtonsource/arts-entertainment/technologys-role-is-all-games-in-bloomingtons-creative-class/


I have been studying media theory, technology, meme theory, game theory, algorithms, economies both digital and physical and the crossover of the above.

I got my Master's degree in "Immersive Mediated Environments".  If you want to learn more about what that means, read here:

http://www.mime.indiana.edu/

"MIME....is about art, music and storytelling designed for New Media, along with every media ever invented or used by humankind....from cave wall etchings to Gibson's stimsims and virtual light. We strive to meld the digital with the traditional, be it film, radio, television, print, or any other medium. MIME recognizes that the explosion in digital convergence has come from applying human talent and imagination to technology. We therefore look to bringing content and creativity, whatever form they take, to digital and virtual platforms, resulting in New Media products that cover the gamut from computer games and internet development to virtual reality environments to film and documentaries and storytelling however the story wants to be told.


MIME brings together teaching and research from across Indiana University to investigate the social and cultural roles of new media and to engage in the development of new media for entertainment, learning, commerce and communication. MIME couples intensive classroom study with an internship program that allows students direct experience with corporate and public users and designers of these new media. MIME focuses on the synergy of practical skills and study needed to successfully create, evaluate and critique new media environments of all sorts."


Chris

It is interesting to be in a position where people are questioning if I am "myself".  Kind of makes me feel "surreal" in a way.  Anyways, here are some links to projects I have worked on/presentations:


http://www.indiana.edu/~telecom/news/multivisions2010/gallery.html
http://www.indiana.edu/~telecom/news/multivisions2010/schedule.html


I have been in educational technology for a while:

http://www.medicalactiongames.com/bodyguard/

"We are alumni and graduate students from Indiana University Bloomington. We are:

(in alphabetical order)

Chris Bates
game designer, sound & music designer"

Awards from "BodyG.U.A.R.D."

Poster/Game Demonstrator
Midwestern Conference on Health Games, October 2011
Indianapolis, IN, USA

Selected Exhibitor
TEDxBloomington, May 2011
Bloomington, IN, USA

Exhibitor
Adobe Day @Indiana University, April 2011
Bloomington, IN, USA

Presenter
AECT International Convention, October 2010
(Association for Educational Communications & Technology)
Anaheim, CA, USA

Presenter
AACE Global Conference on Learning and Technology, May 2010
(Association for the Advancement of Computing in Education)
Penang, Malaysia

Exhibitor
Games for Health Conference, May 2010
Boston, MA, USA

Winner
Open Game Project Category, MultiVisions, April 2010
Bloomington, IN, USA

Exhibitor/Finalist
Game For Programming / Game For Fun / Serious Game
PlayExpo, April 2010
Whitewater, WI, USA

Chris

Coin Proz is a registered LLC.

http://www.kauppalehti.fi/yritykset/yritys/coin+proz+oy/26241144
http://www.taloussanomat.fi/yritykset/uudet/uusi-326146//

We are as transparent as any organization could possibly be.



Prozcoin is a currency within the Prozcoin network. 

It lives on top of the Bitcoin blockchain, as it uses Mastercoin Protocol.  Using the term "mining" to give a reference point for how the coin is created is a way to assert the process.  If you are not familiar with the Mastercoin process, please read more here:

http://blog.mastercoin.org/


Prozcoin is "Smart Property"

https://en.bitcoin.it/wiki/Smart_Property

"Smart property is property whose ownership is controlled via the Bitcoin block chain, using contracts. Examples could include physical property such as cars, phones or houses. Smart property also includes non-physical property like shares in a company or access rights to a remote computer. Making property smart allows it to be traded with radically less trust. This reduces fraud, mediation fees and allows trades to take place that otherwise would never have happened. For example, it allows strangers to loan you money over the internet taking your smart property as collateral, which should make lending more competitive and thus credit cheaper.

Smart property was first proposed by Nick Szabo in his 1997 paper, "The idea of smart contracts". There are currently no implementations of this idea. This page was written by Mike Hearn, contact him with any questions or ask on the forums."

Chris

Here is an article by Cryptotycoons about the ProzCoin team:

http://www.cryptotycoons.com/2014/08/prozcoin-a-coin-for-the-masses/?utm_content=buffer2781f&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

INTRODUCING PROZCOIN

Does a strong social network presence, a relatively large ecosystem at launch, and an open Dev team spell success? We here at CryptoTycoons thank so!

ProzCoin is an all new altcoin based on the MasterCoin algorithm with some PoS thrown in. Once complete, it’ll use an innovative new mining protocol called Proof of Action (POA) that pays out based on hours spent mining other coins at ProzCoin rather than  using the more traditional hashrate payment schemes! On top of the innovation, the developers have added legitimacy to this brand new coin  by revealing their real identities by posting and confirming their linked in accounts! Each developer brings a skill or service to the coin, making this one of the most well rounded coin launches we’ve seen in weeks!

So read on to check out our exclusive developer Interview!





Earlier today we had the opportunity to speak with the developers of ProzCoin! We hope that this article helps clarify any questions you may have. We here at CryptoTycoons were intrigued with the PoA system that ProzCoin brings to the table, as well as how open the developers are being. Publicizing their identied adds a sense of .

 

kudos to going public with your identities! It adds a lot of value to your coin! Do you have any concerns with going public with your identity? Are there any risks involved In your opinion why don’t more coin developers do it?

We wanted to embrace transparency as part of our main tenet of the Coin Proz organization, so releasing our identities was never an issue.  No more risk involved than having a public record as far as I am concerned.  I believe a lot of developers are afraid of the public backlash at the prospect of failure, and would rather not have any failures associated with their name.  I understand on one hand, but feel it’s a hindrance to actual development if you can’t trust the developer to be who they claim to be.


What inspired you to create ProzCoin?

The Coin Proz team is focused on making cryptocurrency accessible to the masses.  Our network is built around focusing multiple crypto communities in the same direction, and ProzCoin is the main currency that will be used within the economic infrastructure.  We have established a network of merchants, websites, and services that accept our coin from day one, and plan to create payment software and hardware to bring cryptocurrency to businesses and citizens, and in the process our community will give them access to all the different communities in crypto through our portal.

Are you, or your team affiliated with any of the merchants that agreed to pick up your coin immediately?
All of the initial merchants are official affiliates of the Coin Proz network.  Myself(Chris Bates) and Tim Frost are co-founders of Cryptoshoppers, and I also have been handling some PR and Social media for Left Turn Only Tv.  Erko Elblaus who is the lead UI/graphic designer for Coin Proz is the owner of Elblaus Designs.

Some people are worried about how many coins the developers will have on hand at any given time. How will you put to side these concerns?

We have already planned on putting any unallocated coins into a publicly visible escrow account, and plan on having complete transparency for every coin

How does the POA system work to increase the value of ProzCoin?

The idea of PoA is that By creating a reward system that takes a set of given “actions”(PoA), whether posting on a forum, writing an article about your favorite coin, or even mining, and quantifies the action relative to some metric of user feedback to “prove” that the action had merit and quality.  So users won’t simply get rewarded for posting on the forum, but only if you make posts that get upvoted will you get a reward.  By having this reward system that encourages the involvement of EVERY coin community, the limited number of coins should theoretically increase in value as the ProzCoin infrastructure grows larger, and the limited supply is further distributed.

Which coins will have a ProzCoin POA pool at launch time?

The PoA/PoW mining pool is still in development for CoinProz.com.  Upon completion the system will allow any coin that has the capacity to have PoW mining give a dual PoA/PoW score in our pool.  The merged mining pool is one of the projects that we hope to complete within the next few months with the capital from the ICO.

Do you, or any of your team have experience with developing for any other coins? Care to share which ones?

Shannon Code is a developer evangelist for the Mastercoin Team.  I did PR for Marinecoin, and commissioned Left Turn Only Tv for one of their Promo videos: https://www.youtube.com/watch?v=tbItDaNNAZU

What can the community do to help this coin succeed?

There is a limited supply being sold through Cryptoshoppers, and then the rest of the coins allocated for raising capital will be sold on exchanges.  When PoA is implemented in the first round, the community will then be able to help by participating in any way they feel and get rewarded in ProzCoin!


Is there anything else you would like to say?

The Coin Proz team wants to be at the forefront of innovation and community involvement.  Our long term goal is to establish a positive environment for the entire crypto community.  No coin is excluded.  We also want to develop software and hardware that will make cryptos more safe, accessible, and bring greater worldwide adoption.

If you didn't take the time to read the literature, you are not a serious investor.  If you think "Prozcoin" is the crux of the company, then you didn't take the time to read the literature.  If people are trying to call us a "100% pre-mined coin" and assert that we did this to hold the coins, then they don't understand 2.0 coins, and ARE simply spreading untruths.   

As far as what is going on in this thread with all the "FUD", the people who are trying to say that "we are keeping the funds" haven't read anything about the coin.  We have legitimate investors who have read our plans, and know that we are going to execute, as we aren't "starting from scratch" as some people have tried to claim in this thread.  This project is over 6 months old, and "Prozcoin" is just a small part of it.  

https://www.academia.edu/7925177/PROOF_OF_ACTION

Please read the white paper.


That means you are NOT an investor, and simply in this thread to FUD.  If you have no interest in even bothering to read about the coin, please don't FUD the thread with nonsense.


Chris

You are correct sir!  We are working very closely with the Mastercoin team and one of the Prozcoin developers also works as a developer evangelist/head of security for Mastercoin. 


Chris

Okay, to address your concerns, I have learned a ton in fact concerning what is known as "pre-mines".  Mastercoin protocol is a 2.0 coin, so it lives on top of the Bitcoin blockchain if you are not familiar.  Since our "coin" is not really the crux of our focus, and rather the entire Coin Proz infrastructure is what is important, the initial "mining" of the coin is irrelevant.  We see that PoW coins were going out of use anyways, so the smartest thing we felt for longevity was to exist on top of the Bitcoin blockchain.  That said, we WILL be releasing a block of 10 Milion Proz to PoA/PoW rewards, which through our pool Coin Proz users will be able to PoW mine the coin of their choice, and get a ProzCoin payout for participation.  In addition, the mining reward of ProzCoin will not be weighted by hashing power, as to not allow giant mining operations to come in, hog the coins, and then dump the market.

Any other questions or concerns, feel free to throw them out!


Last I heard as of 1 PM it was actively being worked on, so it's not just stalled out or anything.  Massive amounts of data to process.




Chris