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Author Topic: [ANN] ₩orldo -The World Currency. Botnet proof. CPU only. (Alpha)  (Read 23954 times)
travel-trousers (OP)
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January 28, 2014, 01:04:09 AM
Last edit: February 15, 2014, 12:24:10 AM by travel-trousers
 #1

₩orldo is a new democratic cryptocurrency that will be giving 0.4% of the first coins to any early supporter who asks for some.
Website             Twitter                    Source

http://www.worldo.org/images/worldo.png
First there was the Peso.
Then there was the Euro.
Now there is a currency for the rest of the world.
Presenting ₩orldo
Set your wallet free.

₩orldo is not just another XXXCoin clone, it is the currency that we're building for the whole world to use, quickly and everyday. We're starting the revolution that Bitcoin only hinted at.

If you were waiting for something to shake up cryptocurrency and challenge bitcoin, you won't have to wait much longer.

A different philosophy and, *gasp*, new ideas

₩orldo are not mined from the depths of code by greedy miners, but tilled and shared freely. ₩orldo farmers are more like the Hobbits to the greedy Dwarvish bitcoin miners Smiley

CPU farmed and low energy
₩orldo are open, democratic and free, so we don't believe the supply should be controlled by mining farms in China or rich nerds in San Francisco. Each ₩orldo can only be generated by a humble CPU. Each open source client will be authenticated and only one instance can run on each PC/phone. We will also have measures against heavy uses of VPS and botnets, so everyone benefits but the greedy. Hashing functions will be varied and randomised to avoid use of unfair, and wasteful, FPGA and ASIC miners.

The computing power being directed at mining most cryptocoins is completely disproportionate to the power required. So instead of running your computer as fast and as hot as it can go all the time, ₩orldo are produced by measuring how much you could do, and using that a guide. Thus you can actually use your computer for something fun, like gaming, before handing off your farming for the night to a Raspberry Pi, all while earning the same amount of ₩orldo and paying a fraction of your energy bill.

Since the clients prove their initial speed and then all agree to work at a fraction of that the reward remains the same proportion across all clients. If a client decides to consistently break this rule and over farm, the network can impose a penalty when the rogue client tries to spend his coins. Also since we can measure the speed of the fastest CPUs the network can impose hard 'speed limits' so there is no advantage to developing dedicated hardware.

₩orldo will always only be farmable with CPU cycles. We cannot stop developers from coding and using GPU/FPGA/ASIC mining solutions, but as soon as we find out we will adjust the code to block them. CPU only.

Potential of Work is a great solution to high energy bills and since ₩orldo consumes so few resources you will be able to mine other CPU coins if you wish as well as other scrypt coins.

Protection from Botnets
Sadly it's all too easy for unscrupulous individuals to amass cryptocurrency with little effort and no expense, so we're working on ideas to keep these people from exploiting  ₩orldo. Our idea is to require all clients to install a USB flash drive onto the farming computer since most infected computers are quite low specification. This is then filled with a unique database generated by the users computer and linked to the users wallet. When the client finds a block it will only be rewarded if it can quickly reply to many random queries from the rest of the network. The client quickly retrieves these from the drive and passes them to the network to be checked. If the client is too slow the block reward is lost since it failed to prove it has the database prepared  and will lack the time to generate the responses in time.

http://www.worldo.org/botnet.pdf v0.6 of our anti-botnet white paper, comments welcome.

This adds a small additional cost to users but means honest users are not disadvantaged by thousands of slower zombie clients.

Clients that actually do something useful!
We  believe that farming ₩orldo should be a useful activity, not just a energy sink,  so we intend to split coin mining time with a fork of the http://boinc.berkeley.edu/BOINC client, an open source project that runs distributed projects like SETI@home. All ₩orldo users can spend some time curing diseases, studying global warming or discovering pulsars even without realising it. This will not affect how much you can farm since everyone is doing it! We will also be pursuing distributed projects that would be willing to pay for computer time, 100% of this money would go to out farmers.

Tiny Transaction Fees
Bitcoin transaction fee's are a problem since they are fixed no matter how much the currency increases in value. ₩orldo transaction fee's are a tiny %, only 0.0001%, just 10c to Send $1,000. Large transactions get confirmed quicker and you can always pay a little more to increase your speed. Everyone wins.

Focus on mobile
The future of computing is already in our hands but while most of the world don't even have a bank account even the poorest person has access to a phone. Many places already use cell phone credit as currency, but this just makes the telecom companies richer. When anyone can buy goods from a local market anywhere in the world with just a phone, we're all better off. This is our ultimate goal.

Democratic
Since it is impossible to predict future economic situations each client will start with a set of  locked controls. However if 50% of all users decide to open these options each person will be able to specify certain parameters which will then be averaged and adopted across the network. This keeps our currency in the hands of we users rather than the banks and governments of the world.

₩orldo Foundation believes an open internet is a fundamental human right and supports the EFFs fight to keep it that way.

Tiny Prefarm and Crowdfunding to get us moving
₩orldo will be released with a very small prefarm and all information will be given with the general release.
We intend to farm 0.4% for anyone who wants some, for free.

Sign up on our website at http://www.worldo.org and you will receive a equal share.
Ask an intelligent question on this thread and we'll give you another share.
Week 1 sign ups
Week 2
Please send a PM with your email if you would like this pdf direct from Google, we want to be open about how many signups will share the 0.4%.

Plus another 1% will be prefarmed to promote our pre-launch funding campaign. Every dollar buys an equal share of this 1% and you will also be able to use the currency first. All money will be spent on development  and be as transparent and open as the prefarm info. This gives the currency instant value and will speed up our development. 0.4% will be split between anyone who donates other cryptocoins.

0.2% will be reserved for bounties and other work before release. Any left over will go into a free faucet.
We hate spam and promise to email you only three times before destroying the mailing list forever. Sign up scripts will be detected!

If you like the idea, and want to help create something new, just one dollar tells us a lot. And, yes the developers will appear in the crowdfunding video! :p

Easy & smart client with secure wallet recovery
We plan that the software will be preconfigured so even your grandma can getting it going in only a few clicks. We want everyone to join in the fun. Wallets can be encrypted and distributed in fragments between friends, so if you have a problem your wallet is secure once you retrieve the majority of these wallet parts plus you do not have to trust others with protecting the whole wallet.

Since we're dealing in real money here we'll also have video tutorials on how to create a secure but memorable encryption password that you will never forget, along with some reminders tricks to keep it in your memory. Also you can set a PIN for quick purchases and a 'panic' code in case you're under duress.

No Lost Coins
₩orldo are made to be used and spent, this is not an investment. Thus after the  third block size change, or approximately 12 years, any ₩orldo that have not been used will be moved back into the farming pool for that year. This will continue so no ₩orldo are lost but the total size remains fixed. So remember to at least move them to a new wallet each decade. Use them or lose them!

Incentives for more nodes
Nodes are essential to keep the network running but fast and reliable servers are expensive. We aim to funnel a tiny percentage of transactions back to people who run the nodes to make it worth doing for more than karma.

Built in Trust
Life is risky but you shouldn't feel afraid buying things online even with an anonymous peer to peer currency. People looking to build trust can receive positive and negative ratings to their wallet and customers can see previous transaction amounts, thus a rogue trader can't just bounce money back and forth to earn positive feedback.

Smaller, faster BlockChain
While it's great to have people and faucets giving away ₩orldo to promote it, it doesn't help if the blockchain is slow and unresponsive from millions of virtually worthless transactions. Once ₩orldo is launched and we know the market cap we will impose a minimum transaction to the equivalent of 1c US. This should be enough to stop the blockchain from bloating out of control and will be reassessed with each major client release.

Pump and Dump protection
Initially you will only be able to transfer 50% of your ₩orldo per hour but this figure will increase by 10% a year. This is to encourage people to trade responsibly and discourage early users from a cycle of 'pump and dump'. Do you really want someone with a massive cache of ₩orldo selling it all at once?

Block rewards INCREASE for one cycle
A total of 1 Trillion ₩orldo will be produced, about 140 per person on the planet, however our distribution will vary from every other crypto currency. 200 billion will be released in the first four years before doubling the block reward to 400 billion while halving every four years thereafter. This is to spur further adoption in the developing world as the ₩orldo becomes the planets largest digital currency.
http://worldo.org/images/bitcoin_chart.pnghttp://worldo.org/images/worldo_chart.png


Small, but optional, transaction fee to fund development/expansion.

In order to facilitate this growth and pay for development, testing and marketing, a small 0.8% fee per transaction will be paid to the ₩orldo Foundation for the first four years. This will halve every four years until it settles on 0.1% so we can ensure the stability and growth of the currency.  Without this small fee the currency will not succeed. Any funds will be distributed transparently in pursuit of network growth or humanitarian causes and outlined in a quarterly report. In addition if the ₩orldo Foundation has more than 0.1% of the total farmed coins at the end of each quarter the balance will be given to charities decided by the users.

Since some people will inevitably hate this idea, and see it as a scam, but you will be able to opt out on our website for 90 days at a time. Even if you opt out it will remain at a minimum of 0.1%, which is fraction of any other service.

Aggressive expansion to retail outlets
Once we have 100,000 regular users we will be distributing substantial rewards for online outlets that sign up accept ₩orldo and even more for physical stores in the region on $US 50-100. Users can also earn referral rewards.

Quickest transaction time ever for small purchases
We also plan on developing a blockchain cache that can process transactions much faster for retail stores, aiming for a 5-10 second confirm time for small purchases. This is a key factor for widespread adoption of the currency. All transactions will be confirmed in the main blockchain as normal.

Beta before release
We'll test the coin with an open beta so we can be sure of initial stability, before resetting for the initial launch when we're 100% ready. We will launch when we have some pools, faucets, an online blockchain explorer and an online wallet so please contact us if you want to get involved in these for some nice bounties.  

Big plans
The ₩orldo Foundation believes that every person on the planet should have financial stability and be free from undemocratic control so we aim to have ₩orldo in half of the planets hands by 2020 and overtake Litecoin by 2016. Bitcoin, we're coming for you!

If you believe in a fast free way to spend your money without fear then please join us, but more importantly, spread the word. The future is already happening.

BTW if you hate the name ₩orldo when we reach 50,000 users it will be put to a vote Smiley

Coin Info:
PoW Algorithm:  Combination of available CPU hashing functions to be tested
Block Interval: TBD Approx 45 seconds
Starting Difficulty: Kimoto Gravity Well
Difficulty Retarget: TBD
Total Coin Supply: 1 Trillion
Block 1: 2,000,000,000 WLD

Total Prefarm: 2%
0.2% for intial bounties, faucet etc : 2,000,000,000 WLD
0.4% for general release via email : 4,000,000,000 WLD
1% for pre-launch contributions, split by contribution %: 10,000,000,000 WLD
0.4% for BTC/LTC/Doge contributions, split by % : 4,000,000,000 WLD

Anonymous donations are also welcome but please make any donations modest, we would rather be developing than defending accusations of being scammers. A lot of small donations are preferable to a few huge ones.

Everything about the prefarm will be transparent. The respective addresses containing the prefarmed coins will be provided upon launch for full transparency.

If you sign up for a share we will email you just before we launch. You can then head to our site, put in your email address and wallet and the coins will be sent soon after. If you're entitled to more shares as a bounty we'll send you a code that will do the same thing.

Developers
Please let us know if you're interested in helping with any of the ideas we plan to implement. Bounties will be split between WLD, coins and $, depending on how much we raise. Code generated will be open source so you would also be helping other projects.
The Alpha release is currently here if you would like to contribute some code.
Please don't bother to mine it, the genesis block will be changed once a week .. :p
addnode=176.58.119.246 rpcport=56991


Help us grow by providing services for the client.
Pre configured Lightweight Raspberry Pi distribution(Available)
Online Blockchain Explorer (Claimed)
Online Faucet (Available)
Android Wallet (Available)
Online Wallet (Available)
5 Stable & High traffic Pools
Meme / Mascot competition
13 translate this [ANN] to each language board, please link to this thread - 20 Shares

Chinese [ANN] thread
Russian [ANN] thread
Dutch [ANN] thread coming...
Danish/Scan [ANN] thread coming...

Logo rerender : Make the Worldo Dove logo with better continents/Graphics : 30 extra shares, +20 for a large rotating gif.  
A logo competition will come soon after launch.
Original ball source here

We are working hard on the beta and initial release but we're only a small team, please let know if you can help. We want to release as soon as possible, so please spread the word.

Add the following banner & PM me for another 5 shares from the 0.4% giveaway.
Code:
[center][size=14pt] ₩orldo - Help grow the botnet protected World Currency [url=http://www.worldo.org][b]0.4% Prefarm = free to all[/b][/url][/size][/center]

If you translate this [ANN] and post it to each language board we'll give you another 20 shares from the 0.4% giveaway. PM when it's done.

Twitter
www.reddit.com/r/worldo
We'll open a forum on the site when we reach 1,000 signups.


If you want to throw us a small donation for some motivation please do so.
http://www.worldo.org/donate.jpg
litecoin:LQPzc1KGnWXkPohLqn5qYwroDbfV5jJ6bi
Doge : D8jh3yLhu1zeh4q4nBkVgb4otk1ewvMPzf

2 Donations Recieved= 0.326 BTC

We welcome all constructive feedback and are aiming for a Beta release in about 5 weeks.
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January 28, 2014, 01:13:26 AM
 #2

I don't like the logo.. thats not even a real world  Cry

How about something digital? because its a digital currency  Smiley

Something like this (isn't from me):


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January 28, 2014, 01:14:39 AM
 #3

When are you hoping to launch?

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January 28, 2014, 01:19:06 AM
 #4

Looks interesting. I like the ₩ symbol. West side!!!

The current logo is terrible, though. Once you pump and dump, hire a pro to make a logo.

                
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Sora
| SoraTopia | SoraEconomy                                                    
/The Decentralized Autonomous Economy /
|
XOR
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January 28, 2014, 01:21:46 AM
 #5

Looks interesting. I don't like the logo, though.
Estimated launch date?
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January 28, 2014, 01:28:10 AM
 #6

everyone says sounds interesting because they want to post on the top page... opps
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January 28, 2014, 01:31:30 AM
 #7

I like the sound of the botnet protection, but has it been tested at all?
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January 28, 2014, 01:46:59 AM
 #8

When is the pool and wallet going to be ready?
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January 28, 2014, 02:02:10 AM
 #9

Seems almost centralized in a way. Is this coin completely decentralized?
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January 28, 2014, 02:31:49 AM
 #10

Great coin guys.

Very original and "smart" idea.

Yeah, you even copied our CSS for the website. Very honest of you, guys.

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January 28, 2014, 03:36:39 AM
 #11

  I like the logo.  It's a dove.  Love.(lick)
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January 28, 2014, 03:38:35 AM
 #12

This seems to be putting a lot of the best ideas from a lot of Cryptos all into one. I like the sound of it.

NXT Organization Marketing
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January 28, 2014, 03:47:02 AM
 #13

+1 hope you succeed. any idea when launch will be? im very interested in this coin!


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[/center
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January 28, 2014, 03:49:54 AM
 #14

Sign up on our website at http://www.worldo.org and you will receive a equal share.

Interested.
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January 28, 2014, 03:56:51 AM
 #15

I hope there is no way to exploit the system and gain 51% just by hacking the part that checks how fast your computer _could_ run.
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January 28, 2014, 04:00:20 AM
 #16

good trial, finally see a pow coin against greedy miner if all of this is true
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January 28, 2014, 04:01:52 AM
 #17

When to launch
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January 28, 2014, 04:06:55 AM
 #18

i want some of that .4% ! let's do this
HighNoon
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January 28, 2014, 05:18:15 AM
 #19

Looks good, keeping an eye on this  Wink
shiryustrider
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January 28, 2014, 05:31:14 AM
 #20

No estimated launch date? Am interested.
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