Hi folks,
I wanted to take a minute to give everyone a bit of information regarding what's happening now and what's to come. I'm coding and working with our UX designers to have the first desktop client demo ready by or before Tuesday August 25, 2015. There are so many uses and applications with r3d that what I've done so far is showcase a couple of them which is the ability to enable a r3d-powered site on a standard web server, utilizing r3d as not only a sustainable, reliable data source, but also the fact that this functionality is coded directly into r3d. When I demo the desktop client, you will get a much better idea of what r3d is capable of and how user-friendly r3d will be to the general public as well as how easy it'll be for developers to create their own applications using r3d.
Regarding the structure of our zero-sum design:
1. Anything unsold during the CFC will be burnt. No new r3d will ever be generated.
2. Mining via auxpow or directly will yield rewards based on usage.
So for example, if someone buys 10,000 r3d and spends 3500 to register an account - that 3500 goes back into the network as fees for miners. The first miner to find the block that contains that fee, gets 3500 r3d. The miner might hold, or they might sell on the market. The next person who wants to use r3d, buys it from the market and uses it for whatever they'd like to on the r3d network. Let's say they write 10 posts - that would cost 1000 r3d as of the fee structure right now. That 1000 would go back into the network for the miners.
- This is a means of combating saturation and promote usage.
- While usage grows, if the supply doesn't meet the demand - it could have a positive effect on the market in terms of value.
- The more r3d is used, the more valuable it gets.
- auxpow provides the means to earn r3d while mining other scrypt coins without the need for additional power as well.
- Traditionally with PoS and inflationary systems, you will be rewarded with more coins, however, this promotes hoarding (bad for any economy) vs spending and will affect price as people spend these interest-earned coins. (this makes it so there is no pressure for miners to dump, and also not rewarding hoarders for creating a stagnant economy)
Best regards,
syntaks