1.   Introduction

With the rapid expansion and development of blockchain technology, Smart contracts are inevitable becoming the future of our digital evolution. Blockchain technology is only a few years old, yet it’s capabilities are versatile and virtually endless. Smart contracts gain popularity for their ability to act independently of any human interaction, also known as trustless operations, since nobody can tamper with the results or functionality.

ClusterToken is an ERC20 compliant Smart contract token that will bring rewards to token holders by using what’s called “Self Mining Smart Contract” technology. This means that no mining equipment or additional equipment is involved to receive mining profits from the ClusterToken Smart contract.

The ClusterToken reward structure is designed to apply what’s known as “Proportional Reward” system. Most of the tokens released on the blockchain have no further use once purchased in terms of extra rewards. ClusterToken will reward all token holders on a periodic system as explained in section 4 of this whitepaper.


2.   Trustless Self Mining Smart Contract

Unlike traditional cryptocurrency mining, ClusterToken will generate new tokens purely by a mathematical formula based on the parents blockchain blocks progress. Since the code can be inspected by anyone, this method is transparent, fair, easy to get started with.

ClusterToken will be deployed on the Ethereum network and use this blockchain as parent blockchain.


3.   The cluster system

Instead of giving a reward per mined block, ClusterToken uses a clustered system where holding tokens is rewarded. ClusterToken exists of 3 different units, that each have their own phase to become a single CLUSTER. We distinct these units as follows:

UNIT: The base unit of ClusterTokens. Each block generated on the parent’s blockchain gives 1 UNIT to the ClusterToken Smart contract.

SEGMENT: Every 1000 UNITS, 1 SEGMENT is added to the ClusterToken Smart Contract. Mathematically, one SEGEMENT equals a thousand UNITS.

CLUSTER: Every 1000 SEGMENTS, 1 CLUSTED is added to the contract. This is the main reward for token holders, and the base unit for ClusterToken.
Mathematically, 1 CLUSTER equals a thousand SEGMENTS and one million UNITS generated.
Essentially, every one million blocks on the parent’s blockchain mined will produce 1 CLUSTER to be distributed among all ClusterToken holders.


4.   Proportional Reward structure

Now that the cluster system is explained, we can move on to how the rewards are calculated. The reward structure is set by the following mathematical formula:

Every time one CLUSTER is added to the ClusterToken Smart Contract, holders are awarded using this mathematical formula. An example of this calculation can be found on our website (https://www.clustertoken.io).

The rewards can be claimed by any ClusterToken holder by calling the “claimClusters” function of the ClusterToken Smart contract. The rewards will be instantaneously added to your wallet.

ClusterToken has also implemented the possibility of early reward withdrawals. Users can withdraw their rewards every 1 SEGMENT but only half of the rewards will be payed to the holders to stimulate claiming only per CLUSTER as intended. To claim the rewards for every SEGMENT, users have to call the function “claimSegments” on the Smart contract interface.


5.   Transaction fees

As ClusterToken is an ethereum Smart Contract, ethereum network transaction fees apply for ClusterToken transactions.


6.   Get ClusterTokens

The ClusterToken Smart contract is deployed on the Ethereum blockchain as an ERC20 compliant token. It’s supply and transactions are publicly visible on the Ethereum blockchain explorer. There is no kind of crowdfunding or Initial Coin Offering period for ClusterToken. Clustertoken is available by anyone at any date.

For a detailed description on how to get ClusterTokens, we refer to our website (https://www.clustertoken.io/get-mew.html) where an in-depth guide is published.

If you have prior experience with tokens, you can get ClusterTokens by sending the amount of your choice in Ethereum to the ClusterToken contract address as published on our website.

Use only the contract address published on our website to prevent theft or scam!

The ClusterTokens will be instantaneously available in your wallet after adding the token details to your list.


7.   Funds and tokens.

The developers will be allocated 100 ClusterTokens to offer bounties and rewards for marketing, campaigns, and PR related purposes.


8. Official channels.

All our official channels will be published here below. Do not trust any source unlisted here!

Contract address: 0x08fd34559F2ed8585d3810B4D96Ab8A05c9f97c5

Token explorer: https://etherscan.io/token/0x08fd34559F2ed8585d3810B4D96Ab8A05c9f97c5

Website: https://www.clustertoken.io

Mirror website : https://clustertoken.github.io

Github : https://github.com/clustertoken/clustertoken

Twitter: https://twitter.com/ClusterToken

Telegram: https://t.me/clustertoken

Exchange




Find us on Blockfolio!



9. The team

Our team is introduced on our website. Please visit https://www.clustertoken.io for further details.

10. Media
https://medium.com/@ClusterToken/clustertoken-how-a-single-token-can-be-worth-100-ether-565e5ff2c81e

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ToDo and progress

- Our website frontend needs minor updates.
- Once our bitcointalk account has been upgraded, a signature campaign will be made.
- Our timeline can be found on the main website.


This topic will be updated as the project progresses. Please keep eyes on our Github account for further changes.

Hi, I would like to reserve the Italian translate if you are planning to have a bounty for translations.

What is advantages to have this token while there is already self mining coin MNE exist. This concept of self mining is copied from that project so please all benefits in details.

MNE is only reserved for the initial genesis address list. ClusterToken is open for anyone bundled with clusterized rewards as explained in the whitepaper.
Our rewards are not limited neither. Anyone can join at any time, as long as you complete the cycle that the cluster requires, anyone can claim rewards.

ClusterToken is a brand new project, and we don't like to compare against other coins or developers. Every project has it's up and downsides.
Everything is well described in our whitepaper that you can find at https://www.clustertoken.io

Thank your for your constructive feedback.

Please read our whitepaper, the announcement thread, or our website.
The minimum amount to contribute is 0.01 Ether, or roughly 2$.

Do you read about Minereum , Timereum? What about differents from this self mining tokens? And - which purposes of your ClusterToken?

Hi Andrew,

In terms of self mining functionality, there will be little difference.
The difference is in the rewarding structures. Please take some time to read our whitepaper and you'll understand where the difference is.

Like said previously, we don't like to compare ClusterToken against other tokens. Every token has a great development team behind it, and every coin/token has it's own purpose.
Ours is explicitly stated in the whitepaper and announcement we made here on bitcointalk.

Thank you very much.

The logo is hidden simply due to our new account here on bitcointalk. Those are forum rules, not ours.
Our logo is displayed in the announcement, but bitcointalk doesn't allow new accounts to display any image until their level upgrades, so it displays as a link towards the image.

Please see this post from the forum administrator, Theymos. thank you. https://bitcointalk.org/index.php?topic=1172918.0

Now this looks interesting, just read over your white paper. I am a genesis holder of two other tokens, but with this one I like the idea that anyone can jump in at any time.

Thank you. Please bear in mind that our account is ristricted at one post every 5 minutes until our level is upgraded.

We do our best to reply everyone.