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Author Topic: [ANN][ICO] GRAFT - Universal Payment Processing Network  (Read 39748 times)
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November 09, 2017, 07:20:15 PM
 #181

WP is definitely worth to read!
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November 09, 2017, 07:24:34 PM
 #182

Dumb question.. I participated in the bounty program and received the confirmation that I was approved - but never received anything passed that. Is that normal?

Please make sure you have submitted the claim form with info about your activities and NEM Nano wallet address to receive your reward in grf:tokens:
https://goo.gl/forms/ye4N5F0HFKHquDFj2

In case you have submitted the claim form with the correct address and full info but still did not receive the reward, send DM message here with your email address or email to info@graft.network from the same email address you have used to sign up and claim.

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November 09, 2017, 07:40:41 PM
 #183

who said that GRAFT is trading at Yobit.net ?? Yobit is trading on a completely different coin. https://bitcointalk.org/index.php?topic=1133970

We are checking with Yobit, thank you

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November 09, 2017, 07:41:49 PM
 #184

The websites states prices for the ICO at 40.09 NEM to GRF. Is that figure correct?

Correct

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November 09, 2017, 08:03:09 PM
 #185

What is the amount of graft coin required for Supernode?


  • Miner Supernode can generate revenue by earning block rewards. The only requirement (in addition to public IP) is higher computing power required for PoW mining. Miner supernode is the last step before the next and highest level.



Hi, another question, what will be the POS/POW algos? Whats not clear to me, is, if I have a supernode and want to POW will your POW cpu/gpu/asic?

So, can you please talk more on such topics, thanks.

POW is CryptoNight, and there is an info about PoS in the white paper and FAQ:
https://www.graft.network/wp-content/uploads/2017/09/Graft-1.1.pdf
https://www.graft.network/frequently-asked-questions/



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November 10, 2017, 09:13:25 PM
 #186

Hi. what was the the ico price? When your token will be traded and where?

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November 10, 2017, 09:58:41 PM
 #187

Hi. what was the the ico price? When your token will be traded and where?
It was about 0.025¢ give or take

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November 11, 2017, 04:38:01 AM
 #188

Hi. what was the the ico price? When your token will be traded and where?
It was about 0.025¢ give or take

No, the pre-sale price was 0.001843 BTC / 0.028 ETH / 28.06 XEM

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November 11, 2017, 04:43:27 AM
 #189

MVP DEVELOPMENT STATUS UPDATE

We would like to update the community on the status of Graft Network development. We have made a lot of plans and promises, and now it’s time for our dreams to start coming true. In order to achieve our ambitious goals, we have put together an efficient team of very talented and experienced developers. Two of them came from Monero project, which is very important for us as we forked the blockchain from Monero, and there will be many blockchain protocol changes.

Network Node, Testnet, and Blockchain Explorer

As an important milestone, we have finished some initial blockchain code modifications which allowed us to set up a public testnet with the first Graft block explorer.



While the testnet is open for access from the Internet, we have not published yet any information on node/supernode setup, configuration, and connectivity since we are still frequently updating it, and we would like to make sure it is stable enough to be open for public view and alpha testing. We will notify everyone once we publish the instructions so anyone will be able to connect and test the basic network.

Supernode

The majority of the work, however, currently is concentrated in supernode code which is — unlike network node forked from Monero — being designed from scratch. The proof of concept supernode was written in Python for the sake of rapid prototype development. After thorough review, the team decided to refactor the supernode code in C++ in order to keep a single technology stack and optimize the development process and network performance. Although the supernode and network node are based on the same technology stack now, the supernode is still deployed as a separate process (daemon), and we intend to keep it this way, at least for the near future.

Mining

Also, we are working on instructions for miners, including GPU and mining pools. Initially, it will be possible to mine on CPU, so the entire full supernode can be hosted on single machine. That’s how the typical testnet supernode is configured. On the mainnet, however, the network hashrate will grow fast, which will require GPU, then multiple GPU, and eventually mining pools to be set up in order to efficiently mine and maintain the full supernode. We are working on providing instructions for GPU miners as well as creating a first mining pool. The GPU mining machine can be detached from the supernode, which enables a hybrid “on premise/cloud” configuration, where, for example, the GPU mining rig is located at home while the supernode is hosted in AWS.



Mobile Wallet, Point of Sale, and Payment Terminal Apps

Finally, we are working on development of client applications, which include wallet and point of sale mobile apps that should look familiar from the PoC phase, as well as new apps running on payment terminals such as Verifone, Ingenico, Equinox, and AnywhereCommerce. Those new apps are going to be different from our existing mobile apps as they are going to be tailored to particular terminal hardware/OS/API/SDK and mostly integrated with third party point of sale software. The terminal apps are very important as they will open the door to the mainstream merchants including top tier retailers. Here is how the typical terminal app will interact with Graft Network:



We are still on initial design phase with those apps, but we believe we will be able to demonstrate the working prototypes before the ICO. Stay tuned!

https://www.graft.network/2017/11/10/mvp-development-status-update/

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November 13, 2017, 04:50:24 PM
 #190

What is the date of ICO?
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November 13, 2017, 07:31:41 PM
 #191

What is the date of ICO?
Graft Network  ICO will happen acouple of days after the National Retail Federation (NRF) conference which happen in New York city and the exact date for the ICO was Jan 18th, 2018. You can check their site for more information.

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November 16, 2017, 09:21:28 PM
 #192

HOW WE PRICED GRAFT ICO

We get a lot of questions about the ICO pricing, including “Why GRAFT ICO is so expensive”. What follows is an attempt to explain how we arrived at the ICO pricing and what all contributed to it.

NOT ALL ALTCOINS ARE THE SAME

There are two types of altcoins (aka tokens) out on the market today – one that sit on top of another blockchain (like Ethereum), and others that implement their own blockchain. The ratio of derivative tokens to custom blockchain ones are roughly 100:1. 
It is a lot easier to do a derivative token based ICO – you just write a small amount of code in  Solidity (if Ethereum) – and you have a token you can sell. Doing or modifying a blockchain on the other hand involves a very substantial amount of engineering efforts – the team has to figure out the math and economics behind the blockchain, implement additional capabilities, secure that new functionality, create API’s, in many cases create applications like a wallet, etc. They also have to create a whole new network complete with node installation procedures, upgrade processes, and many other considerations.
GRAFT is the latter of the two – while leveraging CryptoNote protocol which addresses privacy, decentralization and fungibility as well as  great work that Monero team has done to improve scalability among other things, GRAFT is having to implement a new communication protocol that allows instant authorizations, a distributed API (DAPI) that allows connections from the POS and other applications, and a set of reference applications for the point of sale  and the wallet – just to name a few high-profile tasks. 


DERIVATIVE TOKENS COST MORE

Tokens run on top of another blockchain (say Ethereum), so purchasing a token is not sufficient to run the application that the token represents – you also need to purchase “fuel” (which is the underlying coin/token). The amount of fuel depends on the amount of transactions that the token application represents. Compare this to the blockchain like GRAFT which encompasses the value of entire transaction. As you can see, the cost of a token is more than meets the eye, in some cases much more.




PAY ATTENTION TO VALUATION, NOT TOKEN COST

Valuation (or capitalization) follows a simple formula: (Number of tokens or coins) x (Price of the token / coin).
It’s natural for people to think that smaller price of the token represents a bargain, but the critical piece in this equation is the number of coins or tokens that are being issued.
For example, which is less expensive (has higher valuation) – 1 billion tokens at $1, or 10 million tokens at $10?
It is as you could calculate the latter, with corresponding valuations of $1B vs $100MM.  So when you buy a $10 token from a 10 million token pool, you actually end up with a significantly (10x) larger piece of the pie than if you buy the same amount of the $1 token in a 1 billion token pool.
Most token ICO’s are not burdened by emission math (the formula that guides how the coins are mined, making the later mined coins harder to mine than earlier mined coins), so they issue a very large number of tokens (often in 100’s of millions or even billions) and then pricing the tokens low for the perception of the low entry cost.


Top 10 Derivative tokens (illustrating circulating supplies differences)


GRAFT VALUATION IS 1/40 OF DASH

GRAFT’s total final emission (the number of coins to ever be minted) is roughly 18 million (18,446,744 to be precise). We’re pre-mining certain number of coins (45%) to cover the ICO, marketing, reserves, and incentives. This is it. We will never be able to add or pre-mine any more coins!  We have also decided not to siphon off any fees from the transactions to fund the development like some of the other blockchains are doing.   
As such we have to make sure that whatever we raise now will be sufficient to sustain GRAFT project until no further development or support from the core team are required (we estimate that to be roughly 7 years with the overall team growing to 30-40 people). This is roughly $25MM. 
Now, we also have to account for additional unexpected expenses, crypto-currency fluctuations at the time of the raise, and potential taxable events. This means that we need to need to double the $25MM getting us to $50MM.
Since the ICO represents 25% of the total coin supply, the $50MM has to be equal to 25%, which brings the valuation to $200MM, and subsequently the price of the coin to roughly equivalent of $11 USD.


SUMMARY


When evaluating GRF pricing, it’s really important to compare apples to apples in terms of:
size of emission (or the number of tokens available)
type of a token/coin – a blockchain or a token on top of another blockchain
valuation which is a product of number of tokens multiplied by price
If you do such comparison, you will see that GRF token ICO compares very favorably against other blockchains on the market:

  Current circulationPriceMarket Cap / Valuation
Bitcoin16,678,650$6,100.00$100,000,000,000
Etherium95,715,037$310.00$29,500,000,000
Ripple38,622,870,411$0.20$30,000,000,000
Litecoin53,819,707$60.00$3,250,000,000
Dash7,687,407$340.00$3,200,000,000
Monero15,345,839$118.00$1,800,000,000
Graft (after ICO)8,301,034$11.00$91,311,374

The original post: https://www.graft.network/2017/11/16/how-we-priced-graft-ico/

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November 17, 2017, 04:17:52 AM
 #193

Any word on how to set up supernode yet?  And/or when that capability will be available?

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November 19, 2017, 04:54:11 AM
 #194

Do we have bounty
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November 22, 2017, 03:39:10 PM
 #195

Sir this token is added in exchange ? Please tell me sir
No, won’t be on exchanges until 2018

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November 22, 2017, 04:56:12 PM
 #196

Graft Network,
I was amazed when I see you guys starting your ICO campaign so early and I would like to know if you guys have finish the testmode of the graft wallet?

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November 22, 2017, 07:25:12 PM
 #197

Graft Network,
I was amazed when I see you guys starting your ICO campaign so early and I would like to know if you guys have finish the testmode of the graft wallet?

Working on testnet. You can read about our progress in our blog here:
https://www.graft.network/blog/
Here is the latest updated:
https://www.graft.network/2017/11/10/mvp-development-status-update/

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November 22, 2017, 10:52:03 PM
 #198

Did you reach the soft cap?

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November 23, 2017, 05:47:38 PM
 #199

Did you reach the soft cap?

ICO starts on January 18.

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November 23, 2017, 05:54:34 PM
 #200

Introducing Superstake: Important Enhancement of Graft Network Protocol

If you have read Graft white paper, you should remember that in Graft Network only full supernode is allowed to perform real time authorizations (instant approvals) which are issued by an authorization sample – a group of full supernodes that are selected by special algorithm. The main eligibility criteria for becoming a full supernode are combined PoW (Proof of Work) and PoS (Proof of Stake): the full supernode must have both a recently mined block and a stake wallet with a minimum balance of 500 GRF.

With that said, only full supernodes – authorization sample members receive transaction fees, while mining nodes receive block rewards only. But every mined block opens the door for the mining node to become a full supernode and earn even more on real time authorization and service broker hosting.

At the very beginning, right after the mainnet launch, the mining can be done using regular CPU. However, once miners start connecting their GPU cards and rigs, the hashrate will go up. We realize that at some point, sooner or letter, the miners will start consolidating into mining pools due to the raising hashrate. Such consolidation will reduce the overall number of “unique” mining supernodes, which may affect the number of supernode candidates that are eligible to become a full supernode.

In order to maintain the combined PoW/PoS scheme relevant while keeping up with constantly rising hashrate, we introduce superstake – a mechanism which allows a single mining supernode associated with mining pool to be linked to more than one stake wallet. Thus, a single mining wallet can be linked to multiple stake wallets, which allows a single miner to maintain multiple full supernodes, which will increase an income from transaction fees. However, only up to 3 full supernodes linked to the same mining wallet can participate in the same authorization sample. Also, the stake for extra full supernodes added to the same miner is doubled in order to compensate for the fact that a single miner controls a larger piece of the network (and receives extra portions of transaction fees).

The superstake approach does not change the existing requirement to have at least 500 GRF stake plus recently mined block in order to become a full supernode. However, the second full supernode connected to the same miner will increase the required stake amount to 1000 GRF each. The three supernodes will require a 2,000 GRF stake per each “sister” supernode, etc. Although there is no limit for a number of superstake supernodes, only up to three “sister” supernodes can participate in a single authorization sample. The superstake supernodes can be also used for hosting service brokers that cannot be hosted together with real time authorization for any reason (for example, elevated security or privacy requirements).

Original blog post: https://www.graft.network/2017/11/23/introducing-superstake-important-enhancement-of-graft-network-protocol/

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