Hello thread community, thanks for you interest and welcome to the Fermat project.
I would like to address some doubts about the project and answer a few questions about what we are doing and why.
First, it is not possible to understand Fermat without taking the time to real a little bit about it. A good starting point is:
https://medium.com/@luisfernandomolina/why-is-the-person-to-person-economy-the-last-disruptive-curve-d002e58d7c2d#.onuy8ds39If you read that, you will learn the Fermat is not about a coin, or a bitcoin clone or a crypto currency. The coin is something that is needed to reach a more important goal:
Connecting end user devices to each other without anyone in the middle, not even a p2p network. Why do we want this? Because then we can have Person to Person apps with extreme desintermediation.
Why do we need "extreme desintermedation"?
Because is the way to:
* do business in the most efficient way for the parties involved, no middlemen takes any cut on any transaction. The value of transactions stay at the parties involved, nowhere else.
* data is at your own device, not the cloud, not p2p storage, it is at your own device, the most secure place it can be.
* communication is very hard to be compromised.
All the rest, it is about how we get there.
The Internet of People, this set of p2p networks that facilitate device to device connections needs nodes operators to be incentivized. That is the reason of the IoP token.
We decided to use the strenghts of bitcoin (by forking) and use our own ideas of how to fix some of its problems:
PROBLEM: Centralization of mining, and power in a few hands.
SOLUTION: Mining done by regional local chapters with a cap on the mining.
PROBLEM: Governance into the hands of a few devs or biased companies.
SOLUTION: DASH like voting for proposal system paid by the blockchain.
Think about it, if mining is done by a network of local chapters and that is the rule, then it is impossible to centralize, since noone can invent new countries to get more licenses. By being on every country the system is more resilient as no single government can shut it down.
The mining cap is needed to prevent an arms race and allow people to mine with a regular pc, in the end the vision of Satoshi himself.
The scope and complexity of Fermat is not for everyone. I understand if you can not get it. After all is the result of more that 2 years of work. But by being here in this thread somehow you are witnessing the starting of a revolution. It is up to you to now to join it and change the word.
Hopes this helps!
Cheers!
