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Author Topic: Help for the development of a novel project.  (Read 77 times)
rillater
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April 04, 2018, 10:10:54 AM
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The idea is to develop a cryptocurrency for general use, such as bitcoin, which will be used as currency in the sale and exchange of goods and services, so its value can fluctuate freely, but this differs in that it will be backed by tangible assets. Due to this guarantee, if the value were to fall a lot, the holders of the cryptocurrency could redeem the currency for the real asset. In this way it would become a hybrid between a cryptocurrency (like bitcoin) and a backed token (like the Theter).

Because of these unique characteristics, all coins have to be issued (or premined) at the beginning, since we need to know the total to be able to back it up. I think that this implies that it can not be done with a POW system with miners, since from the beginning there would be no mining, just block validation. I also worry that if the network is small, there could be a 51% attack, for example, by redeeming all the tokens and leaving the legitimate owners without backup.
I have thought that maybe it could be implemented with a POS system, or even develop the cryptocurrency in some established platform.

For a project with these characteristics, which system would be the best?
Counting that at the beginning the community does not have many resources, do you think that if the cryptocurrency is backed, Can we get a good experienced development team that accepts the payment only with the cryptocurrency?

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April 04, 2018, 12:44:52 PM
 #2

it will be backed by tangible assets

There's already Xaurum, backed by gold and even with some deflationary rules in it, to make it attractive as investment.
For now your idea doesn't seem to bring something really new and useful, but maybe you explained too short to avoid people stealing your idea.

Because of these unique characteristics, all coins have to be issued (or premined) at the beginning
...
I have thought that maybe it could be implemented with a POS system, or even develop the cryptocurrency in some established platform.

For a project with these characteristics, which system would be the best?

If your coins are premined, you don't really need Pow nor PoS, you don't want to distribute more coins than you've premined and sold... I guess...
And then a token already does the job, whether it's on Ethereum, Waves or other ecosystems. Just be warned, if you make such token, the network fees may have to be paid in the network's coin.

Or, if you want to avoid this, you'll need indeed a coin. You can make it centralized or you can give some small rewards to people to keep nodes and make your network decentralized. Then PoS or LPoS (see WAVES) can be an idea. I think, however, that whatever you do, at start the system will have to be quite centralized (you own most nodes) if you go on the coin direction.

I guess that you can try to find/read how Xaurum works and how Waves nodes are implemented.

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VZ Chains
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April 05, 2018, 08:28:20 PM
 #3


The idea is to develop a cryptocurrency for general use, such as bitcoin, which will be used as currency in the sale and exchange of goods and services, so its value can fluctuate freely, but this differs in that it will be backed by tangible assets. Due to this guarantee, if the value were to fall a lot, the holders of the cryptocurrency could redeem the currency for the real asset. In this way it would become a hybrid between a cryptocurrency (like bitcoin) and a backed token (like the Theter).

Because of these unique characteristics, all coins have to be issued (or premined) at the beginning, since we need to know the total to be able to back it up. I think that this implies that it can not be done with a POW system with miners, since from the beginning there would be no mining, just block validation. I also worry that if the network is small, there could be a 51% attack, for example, by redeeming all the tokens and leaving the legitimate owners without backup.
I have thought that maybe it could be implemented with a POS system, or even develop the cryptocurrency in some established platform.

For a project with these characteristics, which system would be the best?
Counting that at the beginning the community does not have many resources, do you think that if the cryptocurrency is backed, Can we get a good experienced development team that accepts the payment only with the cryptocurrency?
Hey,

Me and my team are developers for ICOs, smart contracts and other blockchain solutions, contact me privately so we can talk in detail about your project!

We provide legal and marketing as well

Cheers
karlis@vzchains.com
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April 05, 2018, 11:07:07 PM
 #4

You didn't add how to join your team. Am Interested, hit me up kaysydesigns@gmail.com or https://t.me/callmeamnesia
sajin48
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April 12, 2018, 08:22:46 AM
 #5

Hi,

I am from the Epixel Solutions Pvt. Ltd. We are an India based software development company. We have team on Blockchain, Cryptocurrency Development, Web App Development, MLM Software Development, and Mobile App development. So please review our website and get back to me

Website www.epixelmlmsoftware.com

Looking forward to hearing from you.

Thanks,
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