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Author Topic: [IPO-ANN][NEON] :: Neon :: The Most Advanced Second Generation Currency  (Read 37553 times)
NEONs
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January 05, 2014, 08:46:08 PM
Last edit: January 07, 2014, 12:02:01 AM by NEONs
 #1

We are proud to announce this epic new crypto currency that will drastically change the way ecommerce payments will be processed.

http://i.imgur.com/9ku1L3f.jpg

Neon: the Greek analogue of “novum”(new)
Like Neon being a noble gas, Neon the currency will be a noble currency!

We are a team of 3 programmers and came together 2 months ago to discuss the creation of this new currency. We looked at all the existing and announced coins and currencies and identified their biggest flaws and advantages. Within this currency we tried/try to combine the best of their features, eliminate the bad ones and add some totally new features.

POW or POS?

The problem with 100% POS like ripple, NXT and co is, that the distribution happens only at the start, after this the company/stakeholders are the ones responsible for this. This cannot be the best solution for this problem. But we also have to admit that the POS has enormous improvements over the POW resource hungry processes.
We thought for a long time and came up with an awesome solution to this fundamental problem. Along the way to finding a suitable solution we had very big obstacles to clear, but we are confident that our solution is superior to all existing ones.
Solution
In the genesis block all ever existing NEONs will be created. We split up the total existing units into 4 parts. 2 parts will be distributed within this IPO. One part will be sent into an account that will spend 16(16 first year,12 second year,8 third year,4 fourth year) NEONs per minute as fees. (Every full minute, the account will make a transaction, where it sends 0 NEONs to the genesis block using 16 (12,8,4) NEONs as fee). This will go on for about 4 years and 21.024.000 NEONs will be distributed to the nodes this way. The fourth part will be distributed the following way: Every 1440 minutes the network will check how many nodes where online and supporting the network and reward 57600 NEONs proportional to the uptime of the nodes. This will go on for one year.
Part 1+2: Will reward early adopters that will help to spread the word.
Part 3: Will be an extra incentive to setup nodes in the first 4 years, as the transaction fees will not be as high as later on.
Part 4: Will be help to secure the network against DDOS in the first year, as the past showed that the network is the most fragile in that time.

Total units of NEONs: 84.096.000

Technical:

Written from scratch, in C. Not the Java crap that NXT uses (with all the code in one file lol)
Blocktime is 60 seconds, leading to 1440 blocks per day on average.
The units will have 4 decimal points at the start. This can be shifted back unlimitedly. (0.0001 smallest unit at the start)
The initial fee will be set at 0.01 NEONs.
The network will be able to handle 1000tps (transactions per second) at the start.
The nodes can be used with anonymous networks like TOR.

Security:

In the first step it will be possible to anonymize your actions using TOR and the built-in mixing service.
Once our truly anonymized protocol is finished, there will be no need for this, as the transactions will not be associated with a given account anymore. More on that in the whitepaper.

Progress:

Network code: 100% done
Nodes: 100% done
Client: 70% done
Testing: Testnet is running for 2 weeks now. Only some minor bugs found until now.

Features: (all of them are already working in the testnet!)
Unlike Bitcoin and many others, we split up the client and the nodes. This is much more user friendly and will lead to less end-user problems.
The node with all features will be published on release on Windows, Linux and Mac.
The nodes will have all client features(see below) plus this features:
-   Distributed storage
-   Advanced DDoS protection (you can read details on this in the white paper that will follow)
-   Blockchain purging, with bootstrapping. (Master nodes will keep the whole blockchain)
-   Secret killer feature, that will be revealed in the whitepaper!
The lightweight client can be used on Android, iOS, Windows, Linux, Mac and as browser plugins on Firefox and Chrome.
The client will have the following features(all can be dis/enabled):
-   Encrypted chat/messaging
-   Alias System (Every account can create one free alias, everyone after that will cost the minfee. Alias can be traded freely on our decentralized marketplace. But the free alias is blocked from trading for 1 month.
-   Send to aliases (no need to remember the account address)
-   Decentralized marketplace where you can trade any asset/alias
-   Voting system
-   News distribution from devs or any other alias you follow.
-   Mixing service
-   Wallet files if wanted (you can use brainwallet and wallet files both, but this is client side)

Can you mine this coin?

Even though it is not mining, you can run software to receive a reward. As mentioned above the postgenesis accounts will distribute a fixed number of fees to the forging nodes that help to protect the network. So even though you don’t own any NEONs, you can run the full node and receive a part of the 57600 NEONs each day. At the start this will be a huge reward, as more people participate the reward per node will diminish. Obviously everyone can run multiple nodes, this is wanted as this stabilizes the network even more.
Once you own NEONs, you can let your node run to forge blocks and receive the fees of those blocks. Example:
If there are 15.000.000 NEONs forging and you own 1 Million NEONs, then you will forge four blocks per hour. This will give you 16*4 + X fees per hour = 64.

When will the Whitepaper be released?

Due to the rush of the other coins we decided to start our IPO before everything is finished fully, because we don’t want to give others too much of an start advantage.
Whitepaper ETA: 19.01.2014

When will the source code be released?

This is a point we talked about much. On the one hand we want to grant our users as much inside as possible, on the other hand we hate to see our concept cloned on the first day. But obviously we have to release it somehow. That’s why we decided to release the source for the nodes every 2 weeks after the upgrade. So the first source will be released 2 weeks after the launch.

What about the Website, Forum, Faucet, Exchange, Block explorer?

We have registered all the necessary domains and one of our developers is using 100% of his time to finish those right now. We will lauch the sites 1 week before the official launch. So on the 25.01.2014.

How do we participate in the IPO?

The IPO will run until the 26.01.2014. This is one week before the official launch and the genesis block distribution. The nodes and clients will be downloadable 2 days before that.
The IPO will distribute the 50% of all coins to early stakeholders. This is a total of 42.030.000 Units of NEONs that will be distributed.
Due to the whitepaper only being released on the 19.01.2014 we will split the 42048000 into 3 parts and distribute one part of 14.016.000 units per week. So investors that decide to invest before reading the whitepaper will get more coins per investment. We are sure that after the release of the Whitepaper, the interest in this coin will skyrocket.
We accept BTC and LTC only! The LTC to BTC conversion will be made on the day they are transferred at 11:59 PM.
These funds will be used to finance this project and set bounties for sites/programs and promotion. No NEONs will be kept for this purpose as we find that to be a unfair part of other problems, as this distribution is never clear to the users.

If for whatever reason NEON will not be launched, the BTC will be returned to the investors.
ALSO: EVERYONE CAN REVOKE HIS INVESTMENT ANYTIME UP TO THE DEADLINE. BUT IN DOING SO, HE WILL FORFEIT HIS PLACE IN THE GIVEN WEEK HE INVESTED! Just shoot me a pm!


TLDR:

There are a total of 84.096.000 NEONs ever in existence.
Of those, 50% will be distributed within the IPO. A third of those per week of the IPO.
25% will be distributed as fees over the span of 4 Years.
The last 25% will be used to stabilize the network within the first year by rewarding nodes.


First week investments:  05.01.2014-12.01.2014 11:59 AM      14.016.000 NEONs
The BTC address for investments is: 183yYZAaeLJ5WkmM7U5N71X7QgEM4dNPNQ
Link https://blockchain.info/address/183yYZAaeLJ5WkmM7U5N71X7QgEM4dNPNQ
The LTC address for investments is: LPCyLtXTNvqqS4pMEHdHXvUKU57GGi4ZrL
Link http://block-explorer.com/address/LPCyLtXTNvqqS4pMEHdHXvUKU57GGi4ZrL
EDIT: someone asked me if we can offer NXT and XPM as payment options too. And yes we have wallets of both, and will use the rates at 11:59 PM to convert to BTC.
The NXT address for investments is: 1429831591139539134
Link http://87.230.14.1/nxt/nxt.cgi?action=3000&acc=1429831591139539134
The XPM address for investments is: ARcv6gzbDZ6eNsp3XhHJ64bwiaLUjrrzzk
Link https://coinplorer.com/XPM/Addresses/ARcv6gzbDZ6eNsp3XhHJ64bwiaLUjrrzzk

Sent the BTC or LTC to theses addresses and send me a PM with the hash of the transaction and how you would like to be contacted.

List of Investors and BTC Amount: (will be updated twice daily at least)
DAY: 1
1 f****y 0.0121 BTC (0.41920721 LTC)
2 r****r 0.2 BTC
3 w****8 0.058 (2 LTC)
4 w****m 0.5 BTC
5 b****r 0.2 BTC
6 l****8 0.05 BTC

DAY 2:
7 c****5 0.23 BTC
8 z****0 2.00 BTC
9 c****h 3.33 LTC
10 MR000 0.1 BTC + 6800 NXT
11 k****o 0.05 BTC
12 N****c 0.1994 BTC
13 o****r 1 BTC
14 M****S 7.00 LTC
15 e****1 0.6 BTC
16 t****1 1.1 BTC
17 b****1 1.5 BTC
18 f****y 0.2 BTC
19 T****a 10000 NXT
20 i****v 100 NXT
21 w****e 0.5 BTC
22 l****e 0.0416
23 M****t 0.471
24 D****o 6000 NXT
25 g****g 2.0 BTC
26 h****m 20000 NXT
27 q****h 1.12 BTC
28 Z****n 0.01 BTC
29 w****8 3 LTC
30 t****s 0.07 BTC
31 s****o 0.3254 BTC
32 n****r 0.1 BTC
33 b****b 0.1 BTC
34 k****3 0.02 BTC
35 o****r 500 NXT
36 d****e 100 LTC
37 m****g 0.444 BTC
38 j****3 0.13 BTC




12.01.2014-19.01.2014 11:59 AM      14.016.000 NEONs
Investor – BTC Amount
19.01.2014-26.01.2014 11:59 PM      14.016.000 NEONs
Investor – BTC Amount


Announcement!!

We have decided that we will run a one week long closed BETA test. This will start simultaneously with the launch of the whitepaper. To participate you will have to send ANY amount in the first or the second week. 0.001 BTC is enough to participate!!

This beta will give access to the two types of nodes and the client (on all platforms). All the features will be available, the deyentralized exchange and the filestorage too!


Regards,
NEON Team!


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January 05, 2014, 08:48:47 PM
 #2

I knew this would be another investment IPO. How many have their been this week claiming to revolutionise crypto currency?


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January 05, 2014, 08:49:18 PM
 #3

Please, stop creating "2nd gen coin"!

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January 05, 2014, 08:59:34 PM
 #4

Make something new, I'm sick of this "IPO" shit.
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January 05, 2014, 09:00:44 PM
 #5

await the white paper

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January 05, 2014, 09:01:06 PM
 #6

Make something new, I'm sick of this "IPO" shit.

if you read the announcement carefully, you will find that this currency is NOT only intresting if you invest, but you can also participate if you deploy nodes, just like mining. So to participate, NO investment is needed.
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January 05, 2014, 09:01:43 PM
 #7

Please, stop creating "2nd gen coin"!

+1

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January 05, 2014, 09:07:12 PM
 #8

Why is it second gen? Are you a Nigerian prince?
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January 05, 2014, 09:09:23 PM
 #9

If you like NXT, you will love NEON.

It incorporates all its good features, and offers many improvements and a far superior distribution or the units.

Also the whitepaper is coming along well and many of the features are already mathematically proven. (12 pages and counting atm)
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January 05, 2014, 09:10:19 PM
 #10

lols

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January 05, 2014, 09:10:47 PM
 #11

Make something new, I'm sick of this "IPO" shit.

if you read the announcement carefully, you will find that this currency is NOT only intresting if you invest, but you can also participate if you deploy nodes, just like mining. So to participate, NO investment is needed.
1) Whitepaper.
2) All other things.

You're doing it wrong.
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January 05, 2014, 09:12:49 PM
 #12

Bullshit, you need an IPO hence another scam coin.
There must be a better way to create a PoS
I am sure you can come up with a 3rd gen currency!
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January 05, 2014, 09:16:43 PM
 #13

Make something new, I'm sick of this "IPO" shit.

if you read the announcement carefully, you will find that this currency is NOT only intresting if you invest, but you can also participate if you deploy nodes, just like mining. So to participate, NO investment is needed.
1) Whitepaper.
2) All other things.

You're doing it wrong.

Once again, if you want to wait for the whitepaper to invest that is fine. There is one whole week left to understand the paper after the publishing to invest.
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January 05, 2014, 09:20:23 PM
 #14

I am about to invest a smaller amount. looks nice!

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January 05, 2014, 09:22:02 PM
 #15

-   Alias System (Every account can create one free alias, everyone after that will cost the minfee. Alias can be traded freely on our decentralized marketplace. But the free alias is blocked from trading for 1 month.
Want more aliases? Create more accounts.
... That’s why we decided to release the source for the nodes every 2 weeks after the upgrade.  ...
So every upgrade the network will be severely diminished, waiting to the new source to arrive?
Wonder if some attacks like 51% attack on bitcoin would be possible in such times.

...  IPO ...

Until whitepaper or source (quality source with some documentation and unit tests) or preferably both is published, I don't believe in this.

BTW I guess I'm going to make a coingen for "2nd generation cryptocurrency IPO".... may end up being much more profitable than investing in any of the IPOs Wink

Big brother is not watching you anymore. Big brother is telling you how to live.
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January 05, 2014, 09:50:19 PM
 #16

-   Alias System (Every account can create one free alias, everyone after that will cost the minfee. Alias can be traded freely on our decentralized marketplace. But the free alias is blocked from trading for 1 month.
Want more aliases? Create more accounts.
... That’s why we decided to release the source for the nodes every 2 weeks after the upgrade.  ...
So every upgrade the network will be severely diminished, waiting to the new source to arrive?
Wonder if some attacks like 51% attack on bitcoin would be possible in such times.

...  IPO ...

Until whitepaper or source (quality source with some documentation and unit tests) or preferably both is published, I don't believe in this.

BTW I guess I'm going to make a coingen for "2nd generation cryptocurrency IPO".... may end up being much more profitable than investing in any of the IPOs Wink

You can indeed get a free alias for each account you create, and AFTER 1 month you will be able to transfer them for the minimum fee. So tell me exactly how you profit from moving the free alias instead of just buying one for minimum fee Wink

@source argument. The new nodes will work coexisting with the old ones. Only critical updates will post a need to be implemented by all network participants. If that situation arises we will obviously post the source with the release!
Also after we reach a good amount of traction, we will be completely open source!

@IPO, in just 2 weeks the whitepaper will be downloadable. And we are running tests with very big data to stresstest everything. And everything is documented and will be in the attachement of the WP!
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January 05, 2014, 10:12:58 PM
 #17

Please, stop creating "2nd gen coin"!


+1
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January 05, 2014, 10:17:32 PM
 #18

After someone requested NXT and XPM as payment options, I added them to the first post!
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Gric Coin - Redefining Agriculture and Increasing


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January 05, 2014, 10:25:16 PM
 #19

What is 'the hash of the transaction'?

Should I just find it on the blockchain?

.


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        ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▖
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 █████████▀                      ▄▄▄▄▄▄▄▄▖
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  ████████▄▄▄▄▄▄▄▄▄▄▄▄███████    ▜██████████▄▄▄▄▄▄▄▄▄▄▄▄▄▄
   ██████████████████████████     ▀███████████████████████▙
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Gric Coin
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                  Redefining   
.Agricultural Practice and Increasing Food Production.
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January 05, 2014, 10:28:39 PM
 #20

Sounds interesting, but you'll really need a shiny logo to get people hyped on here. I mean literally shiny it's got to look kind of like a pre IOS7 app icon except circular. And good luck coming up with the logo for anther coin starting with "N".

I'll definitely consider dropping some BTC on this if you can get a pretty logo (and OP post in general) going before the investment period ends. Otherwise this coin is doomed I'm afraid.

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