Chromaton.orgChromaton is a new coin in development that has these main goals:
1. Decentralization;
CPU only mining with yescrypt. The only way to get mass coin adoption is to get mass mining adoption of your coin. The goal here will be able for anyone to be able to mine on their computer and eventually phone, and also that the window to mine will be infinite,
their is no block halving. The same amount of coins will be minted every day forever.
Small blocks will be used so large pools and large miners don't get more than their fair share of coins since those mining on top of blocks they broadcast get a head start. The smaller the blocks and longer the blocktime, the less advantage this gives.
2. Stable price; The reason why bitcoin price is unstable is by design. The designers thought that the only way people would want to mine is to make it so the early adopters get more coins then those that come later. This was a false premise. We now know that people don't need a severely limited coin supply to want to mine. But this understanding hasn't yet been realized by the community and everyone still creates limited supply coins. This is not sustainable. An inflation rate is required not only for a stable price but also to keep the coin decentralized. Also with a constant supply of coins to reward miners, transaction fees do not need to exist.
Chromaton will have no transaction fees. Also speculative mining makes the price fluctuate greatly. When the price is high then more people mine, which increases the hashrate which makes more people mine etc. In chromaton there is a
Coinbase maturity of 9 months. This means people won't be able to increase thier hashrate when there is a price spike, since even if they win a block right away it won't be spendable for 9 months. This also will allow us to have
futures contracts built into the blockchain. When you mine a coin you can let it mature for 9 months before spending or you can "presell" it to someone else immediately. You would create a transaction in the blockchain which would sign over the rights to that block so when it matures the other person would get it. This will allow futures trading inside the blockchain itself. This will also help stabilize the price.
3. Lore; a good video game has an interesting story, the same should be true of a coin. chromaton has it's own lore, the idea that color is actually the building block of our reality and that chromaton is the bridge between the virtual and real world. See chromaton.org for more info.
4. Peer to peer trading platform;
Chromaton.org is a forum where people can trade coins with eachother peer to peer. A forum monetary system is implemented so that people can trade chroma, an iou of chromaton, on the forum easily outside the blockchain. To do this people will give thier chromaton to me to hold, and I will load a balance on thier forum account. When they want to cash out I will remove thier forum balance and send them thier chromaton back.
5. Game centric currency; Chromaton can be used for anything but for marketing we are going to target gamers. There is a huge market for gamers wanting to trade an item on one game for currency in another game, or cash out their assets or account from a game. We want Chromaton to be the go to crypto for this use. There will be 66 billion coins minted a year so the value of each coin should stay below 1 cent to facilitate microtransactions.
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BOUNTY TO DO:
There will be a 1/10 of 1 years coins supply as a premine (6 billion coins). The codebase will be built on pre-segwit bitcoin and/or Yenten.
For starters we need to get a genesis block made using Yescrypt algorithm. Anyone who can help do this will get 1 billion chromaton or .05 bitcoin, their choice.
Other things we need will be compiling guide for windows, wallets, yescrypt updates, coding futures into the blockchain, etc. If you can code and want to work with us, you will get a part of the premine. We can negotiate based on what you want to do.
Thanks!
