Breakout Chain: True First Class Multicurrencies with a System for Mass Adoption.Breakout Gaming is a company distinct from Breakout Services, Limitada, the enitity conducting this coin sale.
All Breakout Gaming channels and games will be properly licensed and deployed only in legal to play markets.
Breakout Gaming will use IP blocking, gaming collusion detection, KYC verification,
and other measures to ensure full compliance with all U.S. gaming regulations.
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OVERVIEWBreakout Chain is a global payment system with minute transaction fees. It allows users to send money anywhere in the world instantly and directly to a recipient, without any middlemen. Carried on a single distributed ledger, known as a blockchain, exist several currencies with different uses.
At the heart of the
Breakout Chain „Multicurrency" system is the currency
Breakout Coin (ticker: BRK). It is the
Breakout Chain currency designated for payments, issuances of colored coins, pegged currencies, and used to fuel our smart contract system.
One use case for
Breakout Coin is planned by Breakout Gaming (
www.breakoutenterprise.com), a company specializing in online gaming. To promote adoption of
Breakout Coin, we will loan 7,000,000 BRK to Breakout Gaming in 35 monthly disbursements of 200,000 BRK each, at 0.5% yearly interest compounded quarterly.
Repayment will be calculated in BRK so that all BRK principal must be repaid with interest. Part of the loan agreement is that these coins must be used for promotional giveaways only and can not be sold by Breakout Gaming. To the extent allowed by law, additional requirements are that Breakout Gaming must allow buy-ins using BRK, must allow users to cash out in BRK, must denominate ingame chips in BRK, and must fully cover player liability by holdings in BRK.
The repayment period starts one year after disbursement and continues for one year. Each disbursement will be locked in blockchain escrow using the deferred availabilty function called CHECKLOCKTIMEVERIFY. This marketing escrow ensures that no coins will be available until the time of disbursement. Upon repayment, the principal of each payment will be locked in multi-signature escrow using at least one professional and trusted signatory service.
After repayment from Breakout Gaming, the 7,000,000 BRK will then be available for new loans to promote adoption of
Breakout Coin. All adoption loans will have extended disbursement schedules, and coins will be locked using CHECKLOCKTIMEVERIFY to defer disbursement. This system establishes a highly controlled pool of funds that can be used in perpetuity to promote
Breakout Coin by essentially providing low interest marketing funds to businesses. The marketing escrow and repayment conditions ensure that the BRK supply in circulation is stable and virtually eliminates sell pressure related to promotional giveaways.
Alongside Breakout Coin is another currency called
Breakout Stake (BRX).
Breakout Stake owners have the right to validate blocks of
Breakout Chain ledger entries. For each block, the validator is permitted to claim a reward for performing the validation.
DISTRIBUTIONBreakout Coin and
Breakout Stake will be distributed according to the following table:
- Distribution
– 3,372,506 BRK & BRX First Coin Sale (Complete)
– 4,357,822.10328 BRK Second Coin Sale (Complete)
– 2,269,671.89672 BRK Burnt (TxID c97e8620bd318216659a7409498e35a3d588915e072092c0576e0441556f5127)
– 6,547,761 BRX Third Coin Sale (Bittrex July 10, 2016 5:00 PM PDT - July 24, 2016 08:00 PM PDT)
– 2.5 Million BRK & BRX Marketing Pros, Investors, Founders, Developers, etc.
– 7.0 Million BRK Marketing Fund, Made Available to Third Parties as Low Interest Loans
The 7.0 M Breakout Coin marketing fund will be available for loans to third party businesses at 0.5% interest, with repayment starting after one year. Loan disbursements will be spread over several years, deferred using CHECKLOCKTIMEVERIFY. Loans, including interest and repayment, are denominated in BRK. Coins from the marketing fund that are not under loan or in the marketing escrow will be held in multi-signature escrow until they are included in a loan. Loans will carry usage conditions meant to encourage adoption of BRK and growth of the BRK economy. The favorable repayment plans are meant to give startups and businesses that support Breakout Coin opportunity for success.
- First Coin Sale (Complete)
The first coin sale represented 3,372,506 BRK & BRX, and was conducted between 10/21/2014 and 11/21/2014. A breakdown of the coinsale by purchaser's Breakout Chain address can be found at http://chain.breakoutcoin.com/balances/. This breakdown does not include private sales and early buyer bonuses.
- Second Coin Sale
In a coin sale that ran approximately 25 days beginning June 13, 2016 10:00 AM PDT (01:00 PM EDT) and running until July 7, 2016 07:00 PM PDT (10:00 PM EDT), Breakout Services, Limitada, offered 6,627,494 Breakout Coin. This sale was hosted by the Bittrex exchange, one of the largest and most reputable cryptocurrency exchanges in the USA. In this sale, 4,357,822.10328 BRK was sold, leaving 2,269,671.89672 BRK unsold. The unsold BRK was burnt in Breakout Coin transaction c97e8620bd318216659a7409498e35a3d588915e072092c0576e0441556f5127.
- Third Coin Sale
In a third coin sale, Bittrex will host 6,547,761 Breakout Stake (BRX). The sale will run from July 10, 2016 5:00 PM PDT (08:00 PM EDT) to July 24, 2016 08:00 PM PDT. The Breakout Stake price will be 1500/BTC. If all 6,547,761 BRX are not sold at this price, the unsold Breakout Stake will be provably destroyed by Bittrex.
All sold BRX coins will be distributed to purchasers and a BTC-BRX market pairing opened by Bittrex for trading shortly after the sale ends.
Early buyer incentives of a 10% bonus will last for 3 hours, from July 10, 2016 5:00 PM PDT until 8 pm PDT. After this initial three hour window, no early buyer bonus will be applicable.
PLANNED USE CASE FOR BRKUse Case planned by Breakout Gaming for Breakout CoinBreakout Playa, SRL, doing business as Breakout Gaming, is planned by its principals as a use case for the new BRK currency, by denominating its ingame currency and units of play in BRK and by accepting BRK as a means for customer deposit or subscription or entry for gaming services. Breakout Playa SRL is a separate venture and is not part of any coin offering. Purchase of BRK Coins in this Sale does not entitle a purchaser to any share in, participation or interest in the operations, revenue, profits or losses of the planned Breakout Gaming operations.
Although the Breakout Gaming company anticipates creating and offering a variety of gaming channels and offering play in cryptocurrencies, where legal to do so, there is no guarantee that the launch of its operations will occur or that appropriate markets for its planned services will support successful operations.
All Breakout Gaming channels and games will be properly licensed and deployed only in legal to play markets. Breakout Gaming will use IP blocking, gaming collusion detection, KYC verification, and other measures to ensure full compliance with all U.S. gaming regulations.
ABOUT BREAKOUT CHAINIntroductionBreakout Coin (symbol: BRK) puts the power in user's hands, enabling persontoperson transactions without middlemen, like banks and credit cards have. Users don't need to wait five days for processing, their accounts can't be frozen and the digital coins can be sent virtually instantly with very low fees to Argentina, China, or wherever users want. Sending
Breakout Coin is no more complicated than sending an email.
Breakout Chain is dedicated to advancing the cutting edge of cryptocurrency, using an innovative Multicurrency blockchain invented by James Stroud. Even though the technical side of
Breakout Chain may seem complicated, our website will make
Breakout Chain use simple for anyone with an internet connection.
Because
Breakout Chain uses a decentralized ledger to store transactions, no banks, governments, or other central authority controls any aspect of the payment system. The
Breakout Chain payment system is completely transparent, allowing anyone in the world to fully audit every transaction that has ever been processed by the payment system.
Breakout Chain employs advanced technological safeguards to ensure that every transaction is balanced so that no individual can spend money that isn't theirs or spend any money twice.
For more information about Multicurrencies, find the whitepaper here (
https://github.com/BreakoutCoin/Breakout-Chain-Whitepaper/releases/download/1.0/Breakout-Chain-WP-1.0.pdf). For more information on
Breakout Chain and
Breakout Coin, click here (
http://www.BreakoutCoin.com/the-coin).
Breakout Chain is fully implemented and is currently running on the mainnet.
Wallet DownloadsBreakout Coin Mining
MulticurrenciesThe
Breakout Chain payment system is unique in that it supports several first class currencies, each with different properties. This type of currency system is brand new and is termed a „Multicurrency". Every first class currency has the full support of bitcoin technology, unlike token systems such as NXT and Counterparty. For example, any currency on the
Breakout Chain blockchain can be sent to a bitcoin-type multi-signature. Unlike simple Counterparty multi-signatures, for comparison,
Breakout Chain multi-signatures do not require cumbersome setup and can have elaborate spending conditions. Multicurrency systems have many other advantages over token systems, such as full support of stealth addresses for every currency on the blockchain.
The most important currencies in the
Breakout Chain ledger are
Breakout Coin,
Breakout Stake, and
Sister Coin. The properties of each currency of the
Breakout Coin Multicurrency payment system influences the ways in which the currencies are used.
Blockchain SecurityWhile
Breakout Coin is the currency for Breakout Gaming,
Breakout Stake and
Sister Coin serve to secure the ledger through a combined Proof-of-Stake (PoS) and Proof-of-Work (PoW) model. The PoS system uses
Breakout Stake as the stake, minting
Breakout Coin. This means that the
Breakout Stake money supply will never increase, whereas the
Breakout Coin money supply increases at a rate of approximately 5% per year.
Breakout Chain's PoW system produces
Sister Coin as an incentive to miners.
This hybrid PoW/PoS system, where different security mechanisms produce different coins, is unique among cryptocurrencies.
Other Novel TechnologyBreakout Coin introduces several novel technologies to cryptocurrencies. These include atomic currencies, delegated fees, fee scavenging, arbitrary staking relationships, and immaleable transactions.
- Atomic currencies
are currencies distinguished by the fact that they are indivisible beyond whole units. For example, Breakout Chain has a deck of 53 collectible playing cards. Each card is actually an atomic currency with a money supply of 1, making each card a true "colored coin", which is a unit of currency that has a unique, traceable identity. Because these deck cards are atomic, they can not be split, similar to real cards. Atomic currencies need not have money supplies of 1. In fact, Breakout Chain has a currency called Atomic that has a money supply of 10,000,000,000.
- Delegated fees
are necessary to send currencies from which it is not sensible to take fees directly. Good examples are the 53 playing cards. It is obvious that since each card is indivisible, taking a fee denominated in the card means taking the whole card as a fee, making it impossible to send a card. To send cards, therefore, fees are collected inSister Coin. Other currencies that are divisible (e.g. Breakout Coin and Sister Coin) or have large enough money supplies (e.g. Atomic) do not use delegated fees.
- Fee scavenging
is a system whereby fees may be collected in a block later than that in which the corresponding transaction was included. Because PoS stake earns interest, it does not allow stakeholders to take fees paid by the sender. These fees do not simply
disappear. They remain unclaimed until a block is solved by PoW, allowing for the PoW block finder to claim the fee. Delegated fees provide more incentive for PoW miners because they can mine any number of fee currencies at a time.
- Immaleable transactions
are transactions wherein the transaction ID (TxID) of a transaction can not be changed without invalidating the transaction. Bitcoin has been plagued with problems related to its transaction malleability. For example, the MtGOX collapse was attributed in part (even if disingenuously) to malleability. More recently, numerous denial of service attacks have flooded the bitcoin network with transactions that differ only in their txid, causing extraordinary stress on the network. In Breakout Chain, transactions are rendered immaleable by calculating the TxID from all of the transaction details excluding the signatures, then enforcing that the spender must also sign the TxID. If any entity tries to modify the TxID, it will invalidate the signature and propagation of the modified transaction through the network will stop abruptly.
The DeckOne of the innovations of
Breakout Chain is what could be termed a "first class colored coin". Colored coins are single coins that can be distinguished from any other coin. They might be compared, for example, to notes of sovereign currencies (a.k.a fiat notes) that have serial numbers printed on them. Colored coins are an essential feature for a complete cryptocurrency because a colored coin can be associated with a unique, real world object, such as a land title or automobile.
As a proof of concept for
Breakout Chain colored coins, a deck of 53 unique playing cards was created. These cards were given to testnet participants based on a provably fair lottery. Each card can be sent to anyone using a standard
Breakout Chain payment, held in multi-signature escrow, or even sent using stealth addresses.
Exchange FriendlinessEvery currency on the
Breakout Chain blockchain will be easy for exchanges to add. For each currency that an exchange supports, it will need one instance of the wallet that is subscribed to unique ports. Exchange setup will consist of a single extra line in the configuration file: "defaultcurrency=TICKER" where "TICKER" is the ticker symbol for the currency they wish to control with the client.
Great pains have been taken to ensure "sideways compatibility", so that exchanges and other third-party service providers do not need to retool their workflows. This means that
Breakout Chain will be plug-and-play for all practical purposes, with the exception of the "defaultcurrency" setting in the conf file.
Coin statsBlock Times: 5 Minutes
Security: Proof of Work + Proof of Stake v2
Currencies:
Breakout Coin,
Breakout Stake,
Sister Coin,
Atomic,
The DeckCoinbase Maturity: 240 Blocks (20 hr)
- Breakout Coin
Ticker: BRK
Supply: 19.5 M Upon Genesis of the Chain
Inflation: 5% per year (compounded per block)
Starting Block Reward: 10 BRK
Min Transaction Fee: 0.01 BRK
Retargeting: Breakout Gravity Wave
- Breakout Stake
Ticker: BRX
Supply: 12.5 M Fixed Supply
Inflation: None
Min Transaction Fee: 0.01 BRX
Stakes: Breakout Coin
Stake Minimum Confirmations: 3456 (About 12.3 Days)
- Sister Coin
Ticker: SIS
Max Supply: 21 M
Starting PoW Reward: 50 SIS
Inflation: Halving Every 420,000 Blocks (4 Years)
Min Transaction Fee: 0.01 SIS
- Atomic
Ticker: BAM
Supply: 10 Billion BAM
Inflation: None
Min Transaction Fee: 1 BAM
- Deck
Tickers: Follow the pattern D (for deck), value, suit.
Examples: DAS = Ace of Spades, D2H = Two of Hearts
Supply: 53 (Standard 52 Card Deck + Joker)
Inflation: None
Min Transaction Fee: 0.01 SIS
Stakes: Sister Coin
Stake Minimum Confirmations: 13,824 (About 49.2 Days)
DEVELOPERJames Stroud, Ph.D., is the lead developer for
Breakout Chain, the blockchain carrying
Breakout Coin, which is the chip used for the online gaming platform developed by cryptocurrency startup Breakout Services, Limitada. His unique Multicurrency system, developed for
Breakout Chain, enables novel types of crowd funding that rewards investors with cryptocurrencies without stifling the intended application of these cryptocurrencies. Dr. Stroud is also a co-founder of CryptoCertify, the first company to focus on auditing both the code and deployment of cryptocurrency applications.
In addition to his involvement in cryptocurrencies, Dr. Stroud is a Research Assistant Professor in chemistry at the University of New Mexico and has over 20 peer reviewed publications in some of the top scientific journals. His publications span a range of topics in biomedicine. After receiving a master’s degree from Columbia University in biophysics and a Ph.D. from the University of Colorado in x-ray crystallography, Dr. Stroud worked as a post-doctoral fellow at UCLA studying the mechanisms of Alzheimer’s disease. His current biomedical research focuses on understanding the biological agents involved in several neurodegenerative diseases.
DEVELOPMENT MILESTONES
WALLET DOWNLOADS
BREAKOUT GAMING AND BREAKOUT COIN IN THE NEWSDisclaimerBreakout Gaming is a company distinct from Breakout Services, Limitada, the enitity conducting this coin sale. Breakout Gaming will be among the first adopters of
Breakout Coin. All Breakout Gaming channels and games will be properly licensed and deployed only in legal to play markets. Breakout Gaming will use IP blocking, gaming collusion detection, KYC verification, and other measures to ensure full compliance with all U.S. gaming regulations.
Breakout Services, Limitada, is offering BRK and BRX coins for BTC. By participating in this coin sale, you are not purchasing interest in Breakout Gaming or Breakout Services, Limitada. You are solely participating in the coin sale of a crypto coin that happens to have as a use case a gaming company that supports the BRK coin in various ways.
WARNING: Do not purchase BRK if you are not an expert in crypto tokens or crypto currency and blockchain technology. This coin sale is not an offer of investment or securities in any business, venture, or company, or in any form of gaming operations or activity; purchase of BRK does notentitle the buyer to any interest in any profits or revenue of any common enterprise arising from the activities of others.
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