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Author Topic: [ANN]ChronoLogic - Proof-of-Time token on Ethereum  (Read 29238 times)
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justmint
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ChronoLogic: It might be worth your time


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July 28, 2017, 01:42:46 PM
 #1

Thank you all who have contributed. The contribution period is now officially CLOSED.
 





Time is the most valuable “asset” for humans,
yet most of mankind measures an individual’s wealth by the amount of resources the person has been able to accumulate,
often ignoring the amount of time sacrificed in exchange for these transient resources.

We would like to take part in changing that.

What is it?
The first generation of cryptocurrencies have been based on the concepts of mining & staking.
ChronoLogic works on proof-of-time. In its first use-case ChronoLogic pegs time to a store of value token named DAY based on the Ethereum blockchain.

ICO details



The ICO will take place on August 28th and will last for a maximum of 7 days.

There are two types of hardcaps which will trigger dependent on which one is reached first. This will happen after either 38,383 ETH is raised or there are 3,194 unique contributors.

In addition 33 TimeMints were reserved for pre-sale, 18 TimeMints for the team and 88 TimeMints for future auctions. The details of these TimeMints can be found on the whitepaper.





How does it work?

Each ICO participant will contribute between 1 and 333 ETH and their Ethereum address will become one of 3,333 TimeMints.
Where 1 ETH = 24 DAY. With a maximum of 333 ETH per timemint.
Each TimeMint will create DAY tokens based on time and the TimeMint’s ChronoPower.
ICO participants will benefit both from having a TimeMint linked to their contribution address and the DAY tokens they purchase, both of which can be traded.
As the Proof-of-Time concept works based on an ethereum smart contract, the minting process will work automatically based on your address and the passage of time.
To limit the total supply of DAY in the future, each TimeMint’s ChronoPower will halve every 88 days.

What is ChronoPower?

ChronoPower is the minting power of a specific TimeMint,
Each of the 3,333 TimeMints has a different ChronoPower ranging from 0.5% to 1% additional DAY tokens minted per day.

What if I want to trade my TimeMint?

TimeMint holders may sell their TimeMint to a buyer.
ChronoLogic has a process called TimeTx that allows the sale/transfer of TimeMints to a buyer/receiver through a trustless smart contract process.

For full details about the process, check out our whitepaper.




What are the real use cases of a Proof-of-Time blockchain?

There are many possible use cases, here are a couple of examples from the whitepaper:

Finance Use Case

In finance, many securities including debt securities are heavily dependent on time. For example, a debt instrument with a 5 year term paying 12% is effectively a smart contract that can be housed on the future Proof-of-Time Blockchain.

The Company launches their Proof-of-Time token to help raise & pay their crypto debt via the issuance of a smart contract.
When an Investor sends DAY to the specific receiving address the Investor in return receives the Company’s token COM. Investor A sends 200 DAY and receives 1,000 COM.

Chronologic’s Proof-of-Time technology automatically identifies the sending address as a TimeMint and additional COM tokens are produced as interest accrues.

In order to pay the debt back the Company needs to send back the respective amount of DAY borrowed plus the additional amount accrued.

Interest payments can also happen automatically by the receiving address automatically sending from its DAY balance the respective interest payment to any addresses holding COM.

Because of the interconnectedness of the blockchain, investors can trade COM between each other and repayment then happens across the network depending on who holds COM.

Transportation Use Case

When checking in for a train one supplies their address. If the train is delayed the smart contract is activated.

If the train is delayed then for every minute or 10 minutes that it is delayed the customer receives the company’s Proof-of-Time token.
This token can then be redeemed later for cash or used in order to buy additional tickets from the Company depending on the company’s policy, which is modeled in their smart contract.





What are our goals?

We at ChronoLogic want to build a platform through the future Chronos Proof-of-Time concept, on which additional Proof-of-Time tokens & projects will be launched, and can be considered as our current most important driving force.
Which will themselves require DAY tokens / TimeMints to function.

ChronoLogic’s 2017 Goals:

• Develop a Proof-of-Time mechanism for the finance space.
• Beta test the implementation of a finance Proof-of-Time use case with ChronoLogic’s crypto private equity partner Wired Investors.
• Develop an auction functionality for a decentralized exchange of DAY tokens & DAY TimeMints.
• Finalize development roadmap for the future Proof-of-Time Chronos Platform.
• Partner, support & launch 6 Proof-of-Time blockchain projects.

ChronoLogic’s 2018 Goals:

• Deploy the finance Proof-of-Time use case for the public.
• Work with other partners to beta test additional Proof-of-Time use cases.
• Develop the open Proof-of-Time Chronos Platform to enable the launch of Proof-of-Time tokens by third parties.
• Partner, support & launch 18 Proof-of-Time blockchain projects.



Our Team





For more information about ChronoLogic please visit our website and take a look at our whitepaper.

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July 28, 2017, 01:43:28 PM
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To figure out the TimeMints distribution, check out this article : https://blog.chronologic.network/timemints-day-token-deployed-5e6208abb919


TimeMints minting occurs at 0:00 UTC.


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ChronoLogic: It might be worth your time


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July 28, 2017, 01:43:50 PM
 #3

The ChronoLogic bounty campaign is now live: https://bitcointalk.org/index.php?topic=2065455.0
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ChronoLogic: It might be worth your time


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July 28, 2017, 01:46:46 PM
 #4

Hello! Let me reserve the translation of the bitcointalk Russian thread/site/whitepaper

Details about any possible bounty will be released at a future point in time, we are not currently accepting any reservations.
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July 28, 2017, 01:51:53 PM
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What benefit i can get if i contribution in this ico

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🌟 COMSA ICO: 10/02/17 🌟


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July 28, 2017, 02:01:33 PM
 #6

Looks interesting project, Proof-of-Time is "fresh" idea. You have a solid whitepaper, that adds trust to ChronoLogic. Good luck devs!

COMSA The ICO Solution for Centralized Businesses to Adopt Blockchain Technologies
▬▬▬▬▬▬▬▬▬▬▬▬▬▌▌  ICO: Oct 2nd until Nov 6th▐▬▬▬▬▬▬▬▬▬▬▬▬▬
■ ■ ■ WebsiteWhitepaperTwitterBlogsRedditFacebook ■  TelegramSlackBitcointalk ■ ■ ■
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July 28, 2017, 02:04:08 PM
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What benefit i can get if i contribution in this ico

You will gain DAY tokens as well as a TimeMint. The value of TimeMint is based on its ability to mint new DAY tokens.
TimeMints are like Masternodes that mine DAY tokens directly in your ETH address.
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July 28, 2017, 02:07:27 PM
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Video presentation link in OP is not working please fix it up. As I think 3,333 TimeMints required to mine this token it will be self mining contract on Ethereum blockchain. How this will work can put some details about in OP.



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July 28, 2017, 02:12:56 PM
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Hi, I would like to reserve the Italian translate.

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Blocklancer Freelance on the Blockchain


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July 28, 2017, 02:19:15 PM
 #10

how much the total token supply??

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All In One Social


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July 28, 2017, 02:29:01 PM
 #11

How much is the total supply?

Please DM!!

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July 28, 2017, 02:32:08 PM
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This sounds like unique concept and nice video. I will follow thread here and hope successful ico.

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July 28, 2017, 02:33:20 PM
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reserved , can you tell me total supply?

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██████████  ✔  ANN ●  WebSite  ●  Twitter  ●  Slack  ●  Whitepaper
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ChronoLogic: It might be worth your time


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July 28, 2017, 02:36:51 PM
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how much the total token supply??

Maximum supply will depend on contributions, each ETH contributed will receive 24 DAY tokens with a hard cap of either 38,383 ETH or once there are 3,194 unique contributors.
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July 28, 2017, 02:39:06 PM
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Bookmark and waiting bounty Cheesy

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July 28, 2017, 02:48:31 PM
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A very interesting project. Please see my PM regarding my offer service in your project. I hope that you will grant my reques and work together in the future.

COBINHOOD – ZERO TRADING FEE CRYPTOCURRENCY EXCHANGE 
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July 28, 2017, 02:57:51 PM
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Is there a link bounty campaign available? hope

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▬     Token Sale  [ August 8th, 2017 ]     
ANN | Twitter | Slack | Telegram | Whitepaper | Facebook
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July 28, 2017, 03:24:24 PM
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how much the total token supply??

DayZero Max Supply is 1,038,743 but most likely will end up being under 1 million tokens
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ChronoLogic: It might be worth your time


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July 28, 2017, 03:32:43 PM
 #19

So if I understand this is like self mining contract with fixed interest. I make money holding my token just like masternode in other coins?

CHRONO LOGIC ■ ▬■The first Proof-of-Time platform■▬ ■ CHRONO LOGIC
Only 3,333 Self-Mining Ethereum Masternodes available
▬▬▬▬▬▬▬▬ Early Contribution Period Ends Aug 28th ▬▬▬▬▬▬▬▬
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July 28, 2017, 03:33:22 PM
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I  interested in this coin. How to join the bounty and is any bounty option available for the coin.
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