FIATMAKER – project of monetary social networkAleksei Okoneshnikov
Email –
AOkoneshnikov@gmail.comFacebook-
https://www.facebook.com/groups/fiatmaker/Bitcoin invention created technical possibility of building a new type of social networks – monetary social networks
Monetary social networks.Influence of money on a man is not limited just by economy sphere, they also have a significant influence on the morality and values hierarchy formation. Money is one of the sources of everyday consciousness formation and, consequently, social behavior. At the same time, none of social networks doesn’t use money as the main tool used for building, reflection and organization of social relationships. But in a while the situation will change, there will be social networks based on money – monetary social networks.
Monetary social networks are interesting in that they will enable to manage electronic payment systems and produce money emission based on social relationships, clearly imagining how much costs each user, who supports whom and how much people trust each other. Let me suggest that monetary social networks are going to be a “mirror” of society and can even replace some government institutes or at least seriously affect them.
Composite peer-to-peer systems of electronic cash.Altcoins already more than five hundred, however, all cryptocurrencies existing now have one common and immutable feature - is an existence only of one blockchain.
What if cryptocurrency would have two or more blockchain? Each blockchain can perform their specific function, and together, complementing each other, would give cryptocurrency completely new opportunities, creating a new kind of cryptocurrency - composite cryptocurrency.
For example, the composite cryptocurrency with two parallel working schemes of confirmation of blocks of transactions of proof-of-work and proof-of-stake can be on the present decentralized, very fast, with effective mechanism of issue and distribution of cryptocurrency.
Whether the uniform global payment system is necessary to the world?The fine purpose, but whether is achievable it? The real world dictates the terms.
The first truth that most of people can't live in the world in uniform society yet. The policy of multiculturalism in Western Europe is already officially declared by the failed.
The second truth that external payment systems and furthermore in the form of monetary social networks, pose deadly threat to the sovereignty and national interests of the independent countries and public authorities inevitably will begin fight against it, and users of this system will become hostages of this fight.
We still too different and therefore independent societies need separate monetary social networks. At the same time it is always possible to create bridges, between independent monetary social networks, uniting them in uniform space.
The abolition of the monopoly of banks to issue fiat money.Most of followers of bitcoin firmly believed that fiat money - the evil. Their confidence is similar on trust in religious sense, but it doesn't mean that they are right. Fiat money is a tool, and the result of its application depends on the one who, as well as in what purposes applies it.
Use in monetary social networks the cryptofiat money (the fiat money in essence) is of great importance since society of people (not virtual) lives in the world the fiat money and direct reflection of reality to the virtual world is required.
On the other hand, monetary social networks will allow their users to issue independently cryptofiat money that the fiat money will break monopoly of banks to issue fiat money. Possibility of independent issue the fiat money, very important property as this function of monetary social networks can lead to considerable changes in a world financial system.
Fiat money - the two-sided tool can be also used against the banksters.
FIATMAKER.The project reflects as a prototype on the basis of which independent communities could create the separate monetary social networks (FIATMAKER forks).
I offer the following main technical characteristics to discussion:
1. FIATMAKER must be composite system and contain two blockchains. Blockchain cryptofiat transactions (hereinafter - NOTEBLOCKCHAIN) and blockchain voting (hereinafter - VOTEBLOCKCHAIN) and respectively two independent cryptocurrency NOTECOIN (hereinafter - NC) and VOTECOIN (hereinafter - VC).
The task of the VOTEBLOCKCHAIN – VC accounting and trusting relationship addresses (hereinafter - TRUSTVOTE). Based on the current state of VOTEBLOCKCHAIN determined address, with the power to unilaterally confirm blocks in the blockchain cryptofiat transactions (hereinafter - ARBITER) at the current time.
The task of the NOTEBLOCKCHAIN – NC accounting and trusting relationship addresses (hereinafter - TRUSTNOTE). TRUSTNOTE full analogue term TRUSTLINE network Ripple.
Since cryptofiat transactions are combined into blocks only ARBITER speed to reach consensus on the network will be a maximum, not more than a few seconds, and even faster. Scheme confirm blocks in NOTEBLOCKCHAIN will be similar to the scheme of proof-of-stake, but, in fact, a new scheme of proof-of-mandate.
Since the results of the vote can not be approved by the ARBITER and does not require rapid confirmation of a network, confirm a transaction block voting should be done according to the scheme proof-of-work
2. FIATMAKER must have a legitimate system of selection of an ARBITER.Any network address FIATMAKER has the right to be elected ARBITER. (Fig. 1) ARBITER becomes the network address FIATMAKER, collected at the moment the highest weight. Weight FIATMAKER network address is the sum of VC on its balance sheet and the sum of the weights of other network addresses FIATMAKER, which render it currently trust (TRUSTVOTE).
Address trust established by creating a transaction type TRUSTVOTE. Creating TRUSTVOTE VC does not give you a different address, or the possibility of emission of VC. Creating TRUSTVOTE increases the weight on the weight of a trusted address of the principal.
Network address FIATMAKER can have confidence only one network address FIATMAKER. Address may cancel at any time the trust.
https://i.imgur.com/NMFR7yC.jpgFig 1.
To accelerate the verification of law ARBITER should be limited to the field of candidates in the ARBITER, creating a special address ROOT. Each address, a candidate for the ARBITER must create TRUSTVOTE special address ROOT, but the network FIATMAKER will be considered legitimate TRUSTVOTE address ROOT only on addresses, weighing not less than 1% of all VC network FIATMAKER.
Since ARBITR individually approve the cryptofiat transaction network FIATMAKER, his selection becomes an important element of social relations between the owners of the network addresses FIATMAKER.
Since the addresses may at any time change its balance VC, as well as change the address of a trusted, ARBITER at any time can be changed.
Confirmation of cryptofiat transactions will be suspended for a time when you change the ARBITER. The new ARBITER took office only after receiving several confirmations network (eg 6 confirmations VOTEBLOCKCHAIN).
Old ARBITER may continue to confirm blocks in NOTEBLOCKCHAIN before the entry into force of the new powers of the ARBITER within a certain time (eg 3 confirmations VOTEBLOCKCHAIN). However, the break in the network FIATMAKER when changing an arbitrator can not be avoided. This will not be a significant obstacle, as the ARBITER of all available opportunities will try to maintain their position.
3. FIATMAKER must support only one name cryptofiat currency.Account balances NC should be similar to the account balance in the network Ripple.
NC issue must be based on based on TRUSTNOTE, as well as the issue of currency is made on the basis of Ripple TRUSTLINE.
As the system will be only one currency NC, then the network FIATMAKER will focus on only one currency, so for each of the national currency will need to create a separate fork of the project FIATMAKER, it will achieve the following:
- as forks FIATMAKER be technically independent, then based on them can be set up national monetary social networks that do not pose an external threat to the sovereignty of independent states, so that the public authorities will be more loyal;
- NOTEBLOCKCHAIN will grow more slowly, as it will not contain "unnecessary" transactions in other currencies, as well as speculative transactions exchange trading (compared with Ripple).
In fork FIATMAKER, NC can be simply renamed the USD, EUR, SNY, RUR or any other identification fiat money.
Need to consciously give up the idea of global domination.
4. All transactions must be paid and done in VC. This protects the system from "spam" transactions.
Fees transactions VOTEBLOCKCHAIN should accrue miner confirmed the block. Confirmation block VOTEBLOCKCHAIN should be carried out under the scheme proof-of-work.
Fees transactions NOTEBLOCKCHAIN, should accrue to the ARBITER.
Be the ARBITER can be very profitable, because he can set their own policies for determining the amount of fees for the transaction (including, depending on the amount of money transferred), as well as to block the transaction. Therefore, we will see a serious competition for the position of ARBITER.
5. Issue of VC should be only due remuneration miner.The constant increase in the total number of VC need to maintain social competition, but at the same time, VC do not need to depreciate very quickly.
Remuneration may be fixed (for example, 100 coins), before reaching the border estimated increase in the total number of VC at 10% a year, and then gradually increased, keeping inflation VC at 10% per year.
It should be understood that the VC is not quite the money - VC a measure of the monetary authorities in the social network.
6. Run the system should occur as publicly.It is very important to achieve a uniform distribution of VC among the first of its owners. However, we live in the real world, real needs, so may be a one-time release of VC, in the genesis block. These coins must be equally distributed between the project investors. Investors must be publicly announced, and their personalities are certified. Investors should be as large as possible for further social competition between them for the post of the ARBITER.
In order to attract a wide range of miners should use algorithms which have not yet been established ASIC devices, such as X11, X13, X15.
7. The source code for the project FIATMAKER must be distributed under the GNU GPL.In conclusion.FIATMAKER project is more than just another of the many attempts to create a more perfect cryptocurrency, it is an attempt to create the first monetary social network and in practice its ability to see the transformation of society. It would be very interesting if FIATMAKER fork or a more advanced version of reality would become the basis for a new social and political structure of a given society.
Despite the opportunity for investors to get coins VC started in the genesis block, they should not count on the speculative enrichment, as the first, in the initial period of inflation expectations VC will be very high, and secondly, according to the extensive and valuable monetary social networks will be created in their national elites to achieve and retain power. The main objective of the project - to create a code of monetary social network.
Ask developers Cryptocurrency independently develop or participate in the development and discussion of the project. Address groups to discuss
https://www.facebook.com/groups/fiatmaker/.Sorry for my english. more high-quality translation made later.
