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Author Topic: [ANN] Rya - A Decentralized Monetary System  (Read 741 times)
ryo.official
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July 20, 2018, 02:26:58 PM
 #1

Rya code published on Github under Jelurida Public License

We are pleased to announce that we have published the Rya code under the Jelurida Public License. This is a massive step forward for the project.

Here is the link to the Rya repo hosted at Github: r/https://github.com/RyaDevelopers/Rya

We encourage anyone who is interested to look over the code. If you have any questions (both technical or general), we would love to hear about it through one of our official channels.

SNAPSHOT OFFICIALLY ANNOUNCED

Hi everyone,

We are excited to announce that the Rya project has an official snapshot date.
The snapshot will be taken in block 2,110,000 of the Nxt blockchain expected to occur on November 17th.

Remember only Nxt users with Nxt wallets will get the new RYA coins and trust when the main net will be live. Exchange wallets are not supported.

As promised, we are dropping 0.4 RYA for each Nxt token - a total of 40% of the initial Rya supply. We will be happy to answer any questions you might have on Telegram, Bitcointalk  or Reddit.

Cheers,
Rya team

TEST NET:

http://testnet-server2.ryacoin.io:8876/index.html
http://testnet-server3.ryacoin.io:8876/index.html
http://testnet-server4.ryacoin.io:8876/index.html

IMPORTANT: Do NOT enter any private keys from Nxt wallets in the test net!!

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

We would like to announce Rya a decentralized monetary system, and to invite you to join our growing community.

Why Rya?

Bitcoin has a fixed supply of 21 million coins which causes its price to go up in the long run, just like gold (HODL). This makes it an extraordinary store of value, and a less than ideal medium of exchange. But we also want to be able to use a decentralized currency for our everyday needs: buying a cup of coffee, taking a micro loan or paying for our internet bill.

Fiats monopolistic money market will obviously never be decentralized, and regulators can’t make perfect decisions all the time. They try hard (in some countries...) to make fiat a useful medium of exchange, but in the long run fiat currency tends to lose its value.  

We are creating Rya to be both a stable medium of exchange and a fair store of value. The money market for Rya has a normal demand and supply curve and the rate at which money is created is dynamically adjusted to fit economic conditions. This way, we are neither limited by fixed supply nor require regulation.

Learn More

Rya uses new software and has its own blockchain and wallets for pc/mac/mobile. Nxt’s source code and Proof of Stake model had a big influence on Rya (especially the underlying blockchain tech). We will have a small premine which will consist of a percentage for the founding team / future dev efforts. It will also include a series of airdrops - initially to Nxt owners and later on in a tbd format. Details are still being ironed out, we will update on this asap.

Software development is near completion and we have launched a test net which is currently live. When we launch Rya, we will open source the code. To participate in the test net, contribute to the project or get involved in some other way, reach out to us through telegram at https://t.me/RyaOfficial. Check out https://ryacoin.io to read the whitepaper.

P.S. This is NOT an ICO. We are a community of developers and economists.
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ryo.official
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July 20, 2018, 03:25:50 PM
 #2

Before anyone asks, Ryō has NOTHING to do with the similarly named Sumokoin fork (https://ryo-currency.com/). Our community has been actively building Ryō for the last year and chose the name before any other coin existed with the same title and we own a domain which illustrates that.

We decided to proceed with our announcement using the name Ryō so as to avoid delays, but do not intend to step on anyone’s toes over at https://ryo-currency.com/. We plan on changing the name before launch.

alberbeni
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July 20, 2018, 03:37:49 PM
 #3

You have on plans include airdrops, bountys or giveaways?

Whats the algorithm of the coin? As PoS coin what will be the expected stake reward? Are in plans add MN?

Its good explain about possible mistake with other coin name but will be better if you add more technical info about the coin, not only link to the webpage.
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July 21, 2018, 03:47:19 PM
 #4

Hi guys,

I am also from the RYO project community.
the white paper answers a lot of the questions.
https://ryocoin.io

we hope to announce a bounty and the airdrop soon, once we are ready to start the main net. or even before.
if someone would like to join us in the development effort or in any other way please join the telegram.

cheers Smiley 





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July 21, 2018, 03:53:36 PM
 #5

This is a great concept indeed. I would to ask maybe you have any wallets and then social media bounties or maybe some work for pay schemes that I can join this with so I can earn Ryo while doing bounty work. I will certainly check the website for more details.


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konstant111
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July 21, 2018, 04:03:50 PM
 #6

a good start, the development of the project as a whole would like to understand what the money system means, you mean the payment system? how much is the minimum fee for testers?


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ryo.official
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July 21, 2018, 07:56:33 PM
 #7

To answer some of the questions:

1) PoS questions: Ryo is based on proof of trust (PoT) which is a variation on the principles of PoS. Check out the whitepaper for a very in depth explanation on how Trust works.
2) Masternodes: at this point in time we do not have plans for MN.
3) bounty: head over to our telegram group, we will be communicating about bounties over there soon.
4) further questions: hit us up on telegram at https://t.me/RyoOfficial if something is unclear or you want to ask further.
shikhadadhwal
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July 22, 2018, 01:20:48 PM
 #8

How many tokens of Ryo and Trust will it be on the genesis block?
WUWARAOLUOXIANG
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July 22, 2018, 02:01:57 PM
 #9

Ryo? Any relationship between you and Sumokoin???
Ryo1989
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July 22, 2018, 03:26:32 PM
 #10

1. The amount of tokens/Ryo coins in the genesis Block is not yet determine, in any case Ryo is a free money market and the binding of system-wide credit to money creation ensure that the amount of money in circulation will be appropriate for the state of the economy.  

2.
You have on plans include airdrops, bountys or giveaways?

Whats the algorithm of the coin? As PoS coin what will be the expected stake reward? Are in plans add MN?

Its good explain about possible mistake with other coin but will be better if you add more technical info about the coin, not only link to the webpage.

Yes Main Net are in plans. sooner then you might think Smiley  (but no master node)
the algorithm is a bit complex but here some info from the white paper:
"Ryō   (Japanese:   両)   is a   cryptocurrency   and   monetary   system   designed   to   
be    both    a    store    of    value    and    a    medium    of    exchange.    Using    a    free,    decentralized   
monetary   market,   the   Ryō   system   tethers   money   supply   to   credit   without   the   need   
for    a    monopolistic    regulatory    institution.    Money    supply    is    adjusted    dynamically   
depending   on   economic   cycles   making   for   a better medium   of   exchange.   Ryō   and   its   
Proof   of   Trust   (PoT)   model   is   therefore   expected   to   be   a   fuller   and   more   complete   
substitute   for   Fiat   monetary   systems   than   any   cryptocurrency   yet"

  

3.  Ryō has NOTHING to do with the similarly named Sumokoin fork (https://ryo-currency.com/). Our community has been actively building Ryō for the last year and chose the name before any other coin existed with the same title and we own a domain which illustrates that.

We decided to proceed with our announcement using the name Ryō so as to avoid delays, but do not intend to step on anyone’s toes over at https://ryo-currency.com/. We plan on changing the name before launch.

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July 22, 2018, 03:33:34 PM
 #11

So where will Ryō will be available?
Will it available globally or it will just available for local place only, just as the name "Ryō" that are japanese.

ryo.official
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July 22, 2018, 04:32:39 PM
 #12

Ryo will be available globally as an accepted means of payment at any merchant that chooses to accept it. The idea here is a truly decentralized, self regulated, global currency Smiley
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July 22, 2018, 05:55:43 PM
 #13

I would like to express my gratitude to the authors of the project. If all conceived is implemented tokens will continue to grow
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July 22, 2018, 06:34:30 PM
 #14

From what is in the whitepaper, very soon Ryō will be one of the largest currency in circulation and used by many people..

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July 22, 2018, 06:38:40 PM
 #15

Blockchain has led us to very interesting times in history..I'm liking the whole idea of Ryo and I'm just excited to see it replace the very dreaded dollar. fingers crossed
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July 22, 2018, 06:43:16 PM
 #16

I'm imagining of the economic value of Ryō as it has been explained in the whitepaper..tying it to credit is a brilliant idea, economists can agree with me.
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July 22, 2018, 06:47:02 PM
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I like the way the Ryō has been designed. its not like the BTC which will get exhausted in future as far as mining is concerned
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July 22, 2018, 06:49:20 PM
 #18

I like this. it has the characteristics of a good currency. the economic value, being decentralized so that no single individual can control it all is a good one
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July 22, 2018, 06:52:31 PM
 #19

From an eye of an expert in this field I can read the money supply concept and so far the team behind it has done some good work. I'm keen to follow more details as you promised on the thread
rz888er
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July 22, 2018, 06:55:42 PM
 #20

These are the ideas that will bring about revolution in the world. I will be among the first people to adapt it when it is fully operational
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