Hello all,
My name is Peter Lui. I was originally brought in as a consultant on the COUNTERChain project, and have now agreed to head up the Blockchain / Mining operations for the company.
Unfortunately I have only just been given permission to discuss the project in open forums, so I would like to take this opportunity to introduce COUNTERChain and the Mining aspects.
Our original mandate was to develop a distributed ledger solution (and supporting software) for the products / services offered by the Company. Senior management requested a solution that provides the benefits of distributed ledger technology but without the need for excessive computational power, and avoid what can only be described as an arms race with other Blockchains (such as Bitcoin).
COUNTERChain is a unique counterfeit protection solution that can be applied to virtually any product that is subjected to counterfeiting, and makes it impossible for counterfeiters to pass off fake items as authentic originals.
The very nature of the counterfeit solution requires an infinite number of digital tokens (Counters), yet management wanted to restrict the number of mining participants.
Our solution was to create a proof of participation concept, whereby all miners are equally rewarded with the block reward (irrespective of the computational power contributed), with licences being issued to allow only the holders to participate in COUNTERChain mining. Another major benefit for our mining community is the fact that the block reward will increase over time (not decrease as with the Bitcoin block reward) as more businesses adopt the solution and the demand for Counters increases.
Licences will be issued in four tranches, the first two tranches will be made available via the COUNTERChain website at the advertised prices, with the final two tranches being made available via the COUNTERxChange at market price. Licences are a tradable asset. The first tranche will be available from Monday September 12.
Use promocode: satoshi25 to receive a 25% discount on licences. A further 10% is also applied for payments in Bitcoin.
More information about COUNTERChain and our Mining options can be found on the company website (
www.counterchain.org). A Mining Prospectus is also available for download (
www.counterchain.org/mining.pdf).
I will endeavour to answer any questions on here, and would welcome any feedback /comments on our solution. Due to my schedule and travel commitments please accept that i may not be able to respond immediately. Please also feel free to PM me or contact me via email.