ColoredChain (OP)
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April 11, 2016, 02:06:52 AM
Last edit: April 28, 2016, 10:33:29 PM by ColoredChain |
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What's ColoredChain? ColoreChain is a fully new blockchain applications framework including many creative features and functions with powered proof of stake consensus algorithm.
With coloredchain, developers and users can create decentralized applications on their own sidechains easily through 3 level dapps deployment framework,such as colored tokens platform,custom smart contracts,name system, voting, decentralized storage,and many other dapps.
No mining,no inflation,lightweight,and it’s well suitable to run nodes on most devices with trim feature,including VPS,PC,even smartphone and raspberry pi.Core creative features and innovations ♦Powered Proof of StakeColoredchain uses Powered Proof of Stake(PPoS) consensus mechanism as virtual proof of power to secure network.
Every token in coloredchain masterchain will have power to secure the p2p network like mining in bitcoin,but no need special equipments for this virtual mining process. And the power is proportional to amount of tokens.
No inflation,’miners’ can only mint for transaction fees.
Efficient,lightweight,secure,environment friendly.
♦SidechainsColoredchain uses masterchain and sidechains architecture to provide a more flexible,scalable platform to users and developers.
The masterchain will only manage one type transaction,coloredchain token transfer.And the tokens on masterchain will only have one function,secure the network.
All other transactions and applications will be existed on sidechains. Anyone can easily launch their own sidechains at any time.
All sidechains will have their own meta tokens.The transaction fees on sidechains will be denominated by their own meta tokens.Tokens of sidechains will not have the power/responsibility to secure network.
The transactions on sidechains can be submitted to masterchain on demand based,that is,when there are transactions needed on sidechain, these transactions will be submitted to nodes of masterchain to get confirmed.If there are no transactions,there will be no blocks created on sidechains.This can also decrease the blockchain database size, improve efficiency.
Blocks of masterchain will be generated around 30 seconds all the time.
Sidechains blocks time is also 30 seconds if continuously generated.
♦Decentralized Applications FrameworkColoredchain will provide a 3 level decentralized application deployment framework for users to develop and deploy their decentralized application on sidechains easily.
1) Colored Virtual Machine(CVM)
Coloredchain system will build in a virtual machine(CVM) to provide a runtime environment for decentralized applications,such as custom smart contracts, name system, voting system, decentralized storage system,message,lottery,and so on.
All these applications will run in CVM.
2) DApps Development Toolkit
Coloredchain will build in a decentralized applications development toolkit for developers to create application as easily as possible.
The tool kit will be modularized, can be called easily,and will also provide implementation references for most functions.
3) DApps Install Plugin Kit
Users can easily install these decentralized applications developed by third parties through Plugin Kit ,and use these wonderful apps to launch their business.
4) DApps Case:Colored Token Platform
As a use case,coloredchain will deploy the first decentralized application,Colored Token Platform.Users,companies and banks can build gateways to form a global trading with any assets,such as Bitcoin,Ethereum,other crypto currencies, precious metals, shares,forex,oil,and so on.
No single point failure,totally transparent,almost real-time,fully decentralized,solid secure.
♦TrimThe Masterchain and sidechains architecture allows to trim transactions on sidechains without any potential risk.
All transactions on sidechains will be trimed periodically,and only save the hash of snapshot on blockchain.
Trim of masterchain will not happen frequently,and because of masterchain only including one type transaction as mentioned above,this will not float blockchain much.And if there is need to trim masterchain, hardfork will be a option.
Trim will decrease size of blockchain database dramatically,make it possible to run coloredchain nodes on most devices,like smartphone,raspberry pi,let alone VPS,PC.And this lightweight feature will make coloredchain suitable well for internet of things(IOT) economy space.
Another,lightweight will let run nodes on mobile device more suitably and easily,make coloredchain nodes more decentralized and network more secure.
♦Planned Feature- Multisignature - m of n signature for special transaction with custom m and n.
- Mixer - a mixed pool run all time with fixed input and output for privacy.
- Archived nodes bounty - incentive for nodes to back up pruned data.
- Voting - Decentralized transparent voting and voting lease.
- Name - Decentralized domain name system and account name.
- Data stream - Date communication.
- Colored tokens direct trading pair - Direct exchange between colored tokens without involving meta token.
- Online Wallet – Web online wallet
ColoredChain Token Specifications - Consensus Algorithm - Powered proof of stake
- Total Amount - 64,570,081,fixed.
- Block Time - 30 seconds both for masterchain and sidechains
- Mint - The total amount of tokens is fixed,so nodes can only collect transaction fees during process of securing network.
- Fee - Transactions will have dynamic transaction fee structure,and the system will automatically recommend the transaction fees according to transaction type and speed. The fee on masterchain will be denominated by masterchain tokens. Fee on sidechains will be denominated by meta tokens of each sidechain respectively. Masterchain tokens and sidechains tokens can be converted with internal exchange at a market driven price at any time.
ICO Token Distribution Details Coloredchain tokens will be distributed by ICO(Initial Coin Offering) in genesis block.
All tokens(except reserved) will be distributed to participants one time at release proportional to the raised fund.The detailed plan as following:
Total amount of coloredchain tokens is 64,570,081,fixed.
• 52,947,466 (82%) for open ICO.
• 8,394,110 (13%) reserved for supporting third party DApps development and long term marketing of Foundation(Hold
by community).
• 2,582,803(4%) reserved for partners.
- Cloud service deployment
- Exchanges
- PR company
• 645,700(1%) for ICO bounty.
- 193710 for Bitcointalk signature campaign participants.
- 129140 for Coloredchain twitter followers.
- 129140 for joining Coloredchain facebook group/like.
- 193710 for local language translation and management.
ICO Timeline
Start from April 22,2016 0:00(UTC Time), end on May 23,2016 0:00(UTC Time).Last 31 days.
or
5000 BTC Raised.
Depends on which come first.
And there will be some bonus for earlier participants:
• First day,15% bonus. - April 22 0:00(UTC Time)~April 23 0:00(UTC Time)
• First week,10% bonus. - April 23 0:00(UTC Time)~April 30 0:00(UTC Time)
• Second week,5% bonus. - April 30 0:00(UTC Time)~May 7 0:00(UTC Time)
• Third week,3% bonus. - May 7 0:00(UTC Time)~May 14 0:00(UTC Time)
• Last week,no bonus. - May 14 0:00(UTC Time)~May 23 0:00(UTC Time)
How to join ICO?
For participants who send bitcoin from a fully controlled Bitcoin address:
1. Fully controlled Bitcoin address means you have or you can export the private key of it.
2. Send any amount BTC to Bitcoin address of ColoredChain ICO: 14SXQgMsRU5RV9kXB3wRJVv5LdxzZpEobT
3. Check your bitcoin sending txid is in the genesis block list.
4. After coloredchain mainnet alive,you will need the private key to receive your stakes,so take care of it.
For participants who send bitcoin directly from a exchange:
1. Send any amount BTC to Bitcoin address of ColoredChain ICO: 14SXQgMsRU5RV9kXB3wRJVv5LdxzZpEobT
2. PM me(bitcointalk.org username:ColoredChain) your bitcoin sending txid and your email address.
3. Check your bitcoin sending txid is in the genesis block list.
4. After the mainnet work alive,you will receive stakes import file by email.
5. Use 4th step file to receive your stakes.
ICO Bounty Campaign Details 1 million for ICO bounty.
- 193710 for Bitcointalk signature campaign participants.
- 129140 for Coloredchain twitter followers.
- 129140 for joining Coloredchain facebook group/like.
- 193710 for local language translation and management.
Frequently Asked Questions Multi-Language Thread Check Bitcointalk OP of Coloredchain ICO,if there are languages that are not translated into your language yet, then you can just contact us to process it. Signature Campaign For all members: [table][tr]
[td][size=20pt][font=OCR-A BT][url=https://coloredchain.com][b][color=#de1c4e]C[/color][color=#0086c8]o[/color][color=#d0be2a]l[/color][color=#0086c8]o[/color][color=#2fbcb3]r[/color][color=#f19339]e[/color][color=#6cbf70]d[/color][color=#f19339]Chain[/color][/b][/url][/font][/size][/td]
[td][size=7pt][font=arial] A Colorful [color=#0086c8]Blockchain Applications Framework [/color]with PPoS,Sidechain,DApps Framework,Trim...
[b][url=https://bitcointalk.org/index.php?topic=1433220.0][color=#de1c4e]BitcoinTalk[/color][/url] | [url=https://blog.coloredchain.com/][color=#de1c4e]Blog[/color][/url] | [url=https://coloredchain.com/][color=#de1c4e]Website[/color][/url] | [url=https://twitter.com/coloredchain][color=#de1c4e]Twitter[/color][/url] | [url=https://www.facebook.com/coloredchain][color=#de1c4e]Facebook[/color][/url][/b] - Make Blockchain ecosystem more colorful ![/font][/size][/td]
[/tr][/table] |
