[ANN] Blackcoin Protocol [BLK] | Home of PoS 3.0 | No ICO | No Pre-mine

[Fionoa]

the idea of the project impresses with its uniqueness and openness.An additional plus in the development of the platform is the lack of physical boundaries between the employee and the employer.This factor will only help to make greater use of the platform's capabilities.

[Simss]

If the BLK Team adds Binance as a new exchange it will be perfect.
All investors will go to BLK and pump prices.

[Gritt-N-Auld]

If the BLK Team adds Binance as a new exchange it will be perfect.
All investors will go to BLK and pump prices.

Yeah would be great. They want investment to be private as they require an entry price. Maybe we'll do a pot until minimum is hit, but they don't typically want those numbers publicly known.

[Hardunkichud]

BLK is the only coin that the community truly owns 100%.  

There's no other coin that gets PoS completely right. In order for PoS to stay decentralised, it needs to start out fair so that it stays fair. This is because the power of staking is directly linked to the share of coins someone has in the network.    

For PoS to work it needs to meet several conditions:  

- Even dispersion
- No exploitable features (like coinage)  
- No unfair advantages to a singular party.  

If these conditions aren't met, then we enter in a 'rich get richer' situation where a small group accumulates power and wealth and starts controlling the network. Almost every competing PoS coin manages to fuck it up in one way or another, quite impressive actually.

BLK, however, checks all these boxes. BLK stripped away the protocol to it's simplest form, leaving no mechanics that give anyone an edge in staking (and voting), the devs got 0 BLK from the launch, they rely on donations from the community (there's a new crowdfunding feature that will streamline this further).  

The way BLK is set up is ideological, and so far everyone who truly 'gets' this ideal ends up having no other choice than to love this coin.

And it shows! Two months ago the founder of BLK tried to co-opt the coin for his own purposes, the community didn't agree with his lack of transparency and his unclear motives, and thus he wasn't able to do anything. Anything he would do to the coin would end up being an unsupported fork that would have to continue as a whole new coin. It's a powerful case as to who truly decides what happens to the coin: It's us. We own it. We decide.  

There's just always something wrong with mining. Either miners are too powerful or apathetic, or there's these ASIC exploits. In the end mining means users paying a network cost to those who don't use their coin. That's so perverse.  

The crypto sector as a whole is only slowly starting to understand that Proof of Stake will end up being the only option to truly secure value in decentralised network. Everything relies on having as much power in as many hands as possible.

When you realise that Proof of Stake is the only way and why it's the only way, then there's simply nothing that beats BLK.

[Gritt-N-Auld]

BLK is the only coin that the community truly owns 100%.  

There's no other coin that gets PoS completely right. In order for PoS to stay decentralised, it needs to start out fair so that it stays fair. This is because the power of staking is directly linked to the share of coins someone in the network.    

For PoS to work it needs to meet several conditions:  

- Even dispersion
- No exploitable features (like coinage)  
- No unfair advantages to a singular party.  

If these conditions aren't met, then we enter in a 'rich get richer' situation where a small group accumulates power and wealth and starts controlling the network. Almost every competing PoS coin manages to fuck it up in one way or another, quite impressive actually.

BLK, however, checks all these boxes. BLK stripped away the protocol to it's simplest form, leaving no mechanics that give anyone an edge in staking (and voting), the devs got 0 BLK from the launch, they rely on donations from the community (there's a new crowdfunding feature that will streamline this further).  

The way BLK is set up is ideological, and so far everyone who truly 'gets' this ideal ends up having no other choice than to love this coin.

And it shows! Two months ago the founder of BLK tried to co-opt the coin for his own purposes, the community didn't agree with his lack of transparency and his unclear motives, and thus he wasn't able to do anything. Anything he would do to the coin would end up being an unsupported fork that would have to continue as a whole new coin. It's a powerful case as to who truly decides what happens to the coin: It's us. We own it. We decide.   

There's just always something wrong with mining. Either miners are too powerful or apathetic, or there's these ASIC exploits. In the end mining means users paying a network cost to those who don't use their coin. That's so perverse.  

The crypto sector as a whole is only slowly starting to understand that Proof of Stake will end up being the only option to truly secure value in decentralised network. Everything else relies on having as much power in as many hands as possible.

When you realise that Proof of Stake is the only way and why it's the only way, then there's simply nothing that beats BLK.

I love every case point that you have made. I will have to save this comment!

[Hardunkichud]

One point I think needs to be discussed is the flat staking reward. This causes for a decreasing inflation rather than an inflation that stay proportional to total supply.  

With 1.5 BLK per block every 64 seconds, BLK inflates 739,125 per year. That's 0.97% right now, but because it's a static amount each year, this inflation will get lower relative to the total supply.  

So while BLK inlfates, the staking rewards do not.  

I don't think that's a very elegant system. If we agree that 1% inflation is reasonable (which it is) then that should apply in perpetuity. In other words. Each block needs a small increase on the staking reward to keep up with the increasing supply.  

But of course, only if the community reaches consensus on such a change. 

[XCNP]

In this situation it is better to wait for the situation to be cleared. If I want to buy at any exchange and when to withdraw what will be the coin I receive ? It seems there is some kind of struggle by both sides to take control over the source and project. I am just watching without rushing anything as this is correct way.

[Hardunkichud]

I wouldn't worry. Rat really screwed his plan up diplomatically already. You will get Janko's build (the one that has seen consistent updates and improvements for years now). Here's how it works, there are three possibilities:  

- Rat convinces the consensus his build is BLK and the old fork (ours)  is to be called 'Blacknet'  
- Rat doesn't convince the consensus, BLK stays BLK but he'll get a fork that exchanges support called 'Blacknet'  
- Rat doens't convince the consensus, BLK stays BLK, and he also doesn't get the exchanges on board to get his fork supported.  

The first scenario would be the worst for BLK, because it would require rebranding and everything. However, in order to do that Rat would need to convince all the stakers to support his fork. And that's not going to happen, Gritt already made sure of that by informing the exchanges that offer BLK. Exchanges really hate it when someone tries to sneak in a snapshot airdrop under the radar. They'll simply stake their reserves to lock Rat's idea out and it ends all there. IF they're generous and he's more transparent about the snapshot they might, MIGHT, support his second coin, but he really would have to make huge amends to get that done.  

[Olywen]

Yeah, i agree, lots of promotion are needed for this platform to work. So far it seems quite nice, i'll be waiting for more updates

[Hardunkichud]

Blacknet seems nice? Nobody has any idea what Blacknet is other than Rat. And I doubt he even knows what it is.  

Is the prospect of some free airdrop coin a nice prospect? Sure, but that's not what makes Blackcoin valuable. It's the complete community-ownership that makes it stand out amongst everything else. 

[Bertram89]

Why do you think that project is enticing and promising?

[Hardunkichud]

I respect Rat for creating BLK and launching it way that was so fucking perfect that years later I still wouldn't be able to find it's equal. But the way he communicated and co-opted the original ANN thread leads me to think that BLK's launch was so perfect only be accident, unintentional, a fluke. Maybe that's why no other coin was able to replicate it's success.  

But whatever he's trying to do with Blacknet, I really couldn't care less. I don't see how anyone could be excited for for something that's communicated so poorly.  

Meanwhile we're having one of the most industrious developers in crypto, Janko, really killing it by continuously upgrading the wallet. Not just implementing all the Bitcoin core goodies into the Blackcoin client, but also adding in features specifically for staking (like conveniently letting a locked wallet stake, creating more incentive to keep your node running 24/7) and adding in whole new features like Iris token creation.  

That's what makes BLK enticing. There's hardly any funding and yet the coin is one of the most up-to date and well-oiled machines in the cryptosphere.  

People are working their ass off for BLK in various ways, not because some fat ICO warchest is paying them for as long as it lasts, but because they genuinely believe in this project.

Because no 'core team' is getting a free ride here you have every assurance that any money or effort you're putting in this coin won't end up paying some founder's vacation. Everything you put into it will benefit you as well as the community, without anyone sitting on the throne on top raking in all the money, like what's happening with XVG today, fucking disgusting.  


I've been to modest and too restrained about BLK for way too long. Even if the market isn't recognising it for what it is, this coin is the real deal. 

[nimogsm]

I respect Rat for creating BLK and launching it way that was so fucking perfect that years later I still wouldn't be able to find it's equal. But the way he communicated and co-opted the original ANN thread leads me to think that BLK's launch was so perfect only be accident, unintentional, a fluke. Maybe that's why no other coin was able to replicate it's success.  

But whatever he's trying to do with Blacknet, I really couldn't care less. I don't see how anyone could be excited for for something that's communicated so poorly.  

Meanwhile we're having one of the most industrious developers in crypto, Janko, really killing it by continuously upgrading the wallet. Not just implementing all the Bitcoin core goodies into the Blackcoin client, but also adding in features specifically for staking (like conveniently letting a locked wallet stake, creating more incentive to keep your node running 24/7) and adding in whole new features like Iris token creation.  

That's what makes BLK enticing. There's hardly any funding and yet the coin is one of the most up-to date and well-oiled machines in the cryptosphere.  

People are working their ass off for BLK in various ways, not because some fat ICO warchest is paying them for as long as it lasts, but because they genuinely believe in this project.

Because no 'core team' is getting a free ride here you have every assurance that any money or effort you're putting in this coin won't end up paying some founder's vacation. Everything you put into it will benefit you as well as the community, without anyone sitting on the throne on top raking in all the money, like what's happening with XVG today, fucking disgusting.  


I've been to modest and too restrained about BLK for way too long. Even if the market isn't recognising it for what it is, this coin is the real deal. 

nice words,i remember this coin i traded them
a couple of years ago, glad to see this topic again here.maybe dev make new project,i  would gladly support him.

[Hardunkichud]

It's not that BLK is lacking in projects either. It already has a token creation tool release this year:  

https://iris.blackcoin.io/  

Next step is smart contracts on those tokens. By that point it'll be Ethereum but with the pristine PoS they're trying to figure out for a full year now.  

Biggest challenge is funding due to, again, the whole thing being community funded. For that there'll be a crowdfunding tool, Blacklight that's going to take care of any developers committing to what BLK requires.  

[fuckfbi]

so i bought alot diffrent coins.

the one i like most is BLK though.


thanks to the genious team for being so open about their coin.

appriciate it.

good coin to hold instead of fiat.

[muleroaa]

It's not that BLK is lacking in projects either. It already has a token creation tool release this year:  

https://iris.blackcoin.io/  

Next step is smart contracts on those tokens. By that point it'll be Ethereum but with the pristine PoS they're trying to figure out for a full year now.  

Biggest challenge is funding due to, again, the whole thing being community funded. For that there'll be a crowdfunding tool, Blacklight that's going to take care of any developers committing to what BLK requires.  

Great to see there is still so much active development in BlackCoin.

What language will be used for the smart contracts?

I think that funding will be the biggest challenge indeed, specifically for some more marketing too when the time is right.

[Hardunkichud]

I'm not entirely sure to be honest. Janko was talking about it on Gitter a while ago, he was quite opinionated about it but I forgot and. It's probably also going to need some means of distributing the tokens. Like ERC20 has a very simple ICO algorithm. Most of these ICO companies only need to understand those few lines of code to get their circus going.

[STT]

In this situation it is better to wait for the situation to be cleared. If I want to buy at any exchange and when to withdraw what will be the coin I receive ? It seems there is some kind of struggle by both sides to take control over the source and project. I am just watching without rushing anything as this is correct way.

Last I heard the snapshot would be announced beforehand so you should just carry on as you like.   The wait could be such a long time or forever.    Really I think Rat4 is just a very independent thinker, which has its strengths and weaknesses.  IMO its better to go with a team of development open to ideas and discussion as that is more likely to succeed long term.   I dont know crypto will always have plain sailing, it might see alot of gains but also rough seas along the way.   A team of people is going to more easily succeed.

  In political terms, economic, changes to the wider worlds way of backing its FIAT, trade balance, debt situations & possible wars who knows but the world is going to change alot.    Capital controls such as China have existed in other countries during turmoil,  UK  had this extreme regulation at one point.  In the past USA set prices for food centrally for example it was illegal to sell on a free market, this was in the 70's ; my point being the world can become very uneven and uncertain and leaning on only one person for a protocol is not especially stable in extremes imo.
  Even if crypto didnt exist I expected to see great changes occur anyway, this story goes back decades for me and technology hopefully just helps progression away from bits of paper tied to debt.

The bigger struggle will always be the wider worlds challenges, thats the long term prospects to address

[Hardunkichud]

Most coins behave like delicate animals, complex flowers, colorful butterflies, some mythical deer prancing through the woods, niche species that can only survive in a specific habitat with just the right resources, once their revenue stream only sways slightly, they go extinct. You want a coin that needs nothing, an extremophile species that can exist in the darkest most rotten of places, thrive without nutrition and explode in spots where you least expect it. Something like, say, black mould.

[dzimbeck]

BLK is the only coin that the community truly owns 100%.  

There's no other coin that gets PoS completely right. In order for PoS to stay decentralised, it needs to start out fair so that it stays fair. This is because the power of staking is directly linked to the share of coins someone in the network.    

For PoS to work it needs to meet several conditions:  

- Even dispersion
- No exploitable features (like coinage)  
- No unfair advantages to a singular party.  

If these conditions aren't met, then we enter in a 'rich get richer' situation where a small group accumulates power and wealth and starts controlling the network. Almost every competing PoS coin manages to fuck it up in one way or another, quite impressive actually.

BLK, however, checks all these boxes. BLK stripped away the protocol to it's simplest form, leaving no mechanics that give anyone an edge in staking (and voting), the devs got 0 BLK from the launch, they rely on donations from the community (there's a new crowdfunding feature that will streamline this further).  

The way BLK is set up is ideological, and so far everyone who truly 'gets' this ideal ends up having no other choice than to love this coin.

And it shows! Two months ago the founder of BLK tried to co-opt the coin for his own purposes, the community didn't agree with his lack of transparency and his unclear motives, and thus he wasn't able to do anything. Anything he would do to the coin would end up being an unsupported fork that would have to continue as a whole new coin. It's a powerful case as to who truly decides what happens to the coin: It's us. We own it. We decide.   

There's just always something wrong with mining. Either miners are too powerful or apathetic, or there's these ASIC exploits. In the end mining means users paying a network cost to those who don't use their coin. That's so perverse.  

The crypto sector as a whole is only slowly starting to understand that Proof of Stake will end up being the only option to truly secure value in decentralised network. Everything else relies on having as much power in as many hands as possible.

When you realise that Proof of Stake is the only way and why it's the only way, then there's simply nothing that beats BLK.

I love every case point that you have made. I will have to save this comment!

It's okay, what will remain is two chains. It's possible that it might cause some reinvigorated interest in Blackcoin. And for many years it has remained a strong project.