- 0.5% based on each vPoS block goes to community fund
que? Instead of premine you leach mine?
yeah, what will happen to the community fund??
community fund is only 0.5% and only a quarter of what an average pool charges in fees.
the fund is not taken out of PoW and neither from vPoS rewards, it's just a percent based
on vPoS block and will not be generated in PoW stage at all. It will be used for promotional
stuff like rain events on IRC, twitter promos, to fund a faucet, or reward translations or services.
There are 2 coders working on CyberCoin, and the High vPoS model we introduce with variable
interest is designed to reward initial PoW miners the most and the interest rate is based on staked
block amount which means instead of people splitting blocks to 10 different inputs they will make
more interest by combining into one input to gain a higher stake level. CyberCoin will initially start
with 88 million coins in PoW and with variable interest in the first 15 days of vPoS 2.0 will evolve
into a coin that will have a max cap in the billions. The initial yearly interest rate depending on what
slab the holder is staking could range from 823% to 8230%. This initial high rate of inflation will
drop after ~18 days by about 90% but will still be high interest compared to other coins.
Our focus is microtransactions, security, usability, and at the same time reducing the carbon footprint by
using a short period of PoW and going with the most "GREEN" proof of stake coin ever.
Cybercoin reduced maturity rate and incentives to combine inputs for better rewards increases the security
and reduces clutter. It will also make the coin more transparent as big holders have an incentive to combine
their holdings into one input rather than hide it in many.
There is another coin Neucoin that is doing a similar approach and they have a 37 page whitepaper, but they are
doing a 2.5 billion premine ICO if I remember correctly. We on the other hand will mine this with everyone else in PoW
and will not hold any coins that we did not mine fairly with others. The community fund will be just that.
We will work on the whitepaper as soon as we are done with the release, we wanted to get the code out into the public
before anyone says it's just another copy paste. We tested the code repeatedly in the last couple of months and made sure
no bad surprises will happen, as we will rent hash like everyone else to mine CC.
I hope that answers your concerns. If you have any suggestions please let us know.
Why wasn't this information integrated into the main post? I cant be the only one who gets nervous when all I see are coin stats on the first post.
