[ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO]

[BitCoinsForGold]

Was doing some research on this project and found some big press:

https://techcrunch.com/2018/05/09/a-modcloth-cofounder-just-launched-an-invite-only-cryptocurrency/
https://www.geekwire.com/2018/modcloth-co-founder-aims-create-worlds-used-cryptocurrency-new-startup-merit/
https://www.ethnews.com/when-crypto-and-esports-collide

All of the above seems to be legit -- which is surprising. With such big press, why not put that in the ANN itself?

Probably 50%, or more, of project ANNs are scams or semi-scams.  If you have something real, you should show that.

Just some advice...

LOL - you project got Techcrunched!??  And did not include it in the ANN?  

[dendcednis]

There is no ideal platform, everywhere there are dissatisfied users. I think that this idea will also have some difficulties. Although the prospects for this project are really good.

[sizzleplussteak]

This is a pretty impressive project, from what I can tell.  Is that star-chart visualization of the network based on actual data, or is it some kind of estimate, vague approximation, or projection?

Hey guys -- no one answered my question

That visualization is really impressive, but I would like to know where it came from and if it is backed by real data.

[KAMO287]

This vault concept is very interesting.  I'm not sure I've ever seen an altcoin with something like that before (someone please feel free to correct me on this.)

Is there a deeper explanation of vaults anywhere?  The website is kind of vague about this -- it says multiple keys, and talks about whitelists and resetting.  But no more details than that. 

I think cold storage is one of the least friendly things about crypto...

You can find more in the whitepaper - it doesnt get into the technical side as much , but it unpacks "how" very well.

Do a "Ctrl + F" (find) and scroll though. Let me know if you have any other questions.

https://www.merit.me/uploads/2018/whitepaper.pdf

[KAMO287]

This is a pretty impressive project, from what I can tell.  Is that star-chart visualization of the network based on actual data, or is it some kind of estimate, vague approximation, or projection?

Hey guys -- no one answered my question

That visualization is really impressive, but I would like to know where it came from and if it is backed by real data.

Hey! I was able to reply- check out page 3. Sorry it got lost in the invite spam. PM me if you want more details about the visual.

[sacloci]

Good night,
What's hardcap and softcap please?
I read the super short whitepaper but I cannot find this info
I wanna join this idea as it suggested by admin of the biggest crypto forum

[EmTee]

When you say "An unlocked wallet has valid keys, but no one can send MRT to it, you cannot receive MRT to it, and you cannot receive invite tokens to it either.", do you mean a "LOCKED" wallet? 

If you cannot send to an unlocked wallet, then who can you send to?

When you download the wallet or create a wallet on the web, it generates a valid address, but that address is not 'beaconed' so you cannot receive Merit (MRT), and since the balance is 0, you cannot send any either.  You need to first receive an invite token (INV) and it will beacon and unlock the wallet, at which point you can receive funds and send as you wish.

[KAMO287]

Was doing some research on this project and found some big press:

https://techcrunch.com/2018/05/09/a-modcloth-cofounder-just-launched-an-invite-only-cryptocurrency/
https://www.geekwire.com/2018/modcloth-co-founder-aims-create-worlds-used-cryptocurrency-new-startup-merit/
https://www.ethnews.com/when-crypto-and-esports-collide

All of the above seems to be legit -- which is surprising. With such big press, why not put that in the ANN itself?

Probably 50%, or more, of project ANNs are scams or semi-scams.  If you have something real, you should show that.

Just some advice...

LOL - you project got Techcrunched!??  And did not include it in the ANN?  

You're right- ill let the team know! - it's only the beginning of the credibility track record! But good point... so many scams out there. They should probably showcase those links.

[disifi]

Thank you!  

This is a very thorough answer to my question, and was what I was looking for.  This is actually a lot more interesting than I thought.  It seems like the invitation distribution has some intelligence to it.  And, if I understand it correctly, this is actually built into Merit Core?  In other words, this is actually part of the consensus mechanism.

Quite interesting.  

How does the system prevent people with the highest CGS from effectively getting all the invite tokens?

Yes it's built into blockchain, part of consensus.

People with higher CGS usually use most of the invite tokens, so it's fair to distribute it to them based on that key. Anyway, algorithm for generating invites are dynamic so there won't be situation when no invites will be left, if more invites are spent, more are distributed. It can be hard in short-time when many invites are used, but next days also many invites will be airdropped.

[sizzleplussteak]

This is a pretty impressive project, from what I can tell.  Is that star-chart visualization of the network based on actual data, or is it some kind of estimate, vague approximation, or projection?

Hey guys -- no one answered my question

That visualization is really impressive, but I would like to know where it came from and if it is backed by real data.

Hey! I was able to reply- check out page 3. Sorry it got lost in the invite spam. PM me if you want more details about the visual.

Oops -- my mistake.  You are right.  I didn't realize there was a dashboard that lets you visualize the network.  Is this an official Merit project?  I didn't see it in the ANN.

[BitCoinsForGold]

What is Pachira?  (Sorry if I'm missing something obvious.)

Edit: OH In Bluepaper!

It's not the easiest to explain but it's an algorithm used in Proof-of-Growth to fairly distribute rewards. Here is a link that goes into the details - careful - it's heavy:  http://ccr.sigcomm.org/online/files/fp231-douceur.pdf

Wow - that is pretty heavy.  So, PoG uses some research created by Microsoft to solve fair lottery distribution for growth mining.  Quite interesting.

Does the core team have ties to Microsoft's Blockchain team? 

[AkiAfroo]

This is a pretty impressive project, from what I can tell.  Is that star-chart visualization of the network based on actual data, or is it some kind of estimate, vague approximation, or projection?

Hey guys -- no one answered my question

That visualization is really impressive, but I would like to know where it came from and if it is backed by real data.

its real data based on merit blockchain.

[farting_shot]

Rough timing to launch a new altcoin, but the project looks pretty interesting.

Can you explain a bit more about how this invite-only thing works?  And how is it the foundation for proof-of-growth, as the ANN states?

The invites help drive proof of growth and other features of Merit.

So when a miner (using Proof of Work) finds a block, It has 20 Merit. 10 go to the miner for a reward, and 10 go into a lottery where the growth rewards are distributed. I can go into much more detail, but at a high level people also call it "growth Mining" kinda cool concept.

If you want to try it out let me know:  https://wallet.merit.me/?invite=KAMO287

Is there an easy explanation for how the "Growth Lottery" happens?  Is it based on global activity?  Or just what a user does in the last block?  (Which would only be in the last minute??)  Or something else?

[disifi]

Good night,
What's hardcap and softcap please?
I read the super short whitepaper but I cannot find this info
I wanna join this idea as it suggested by admin of the biggest crypto forum

No ICO no caps

You can see some current stats on https://merit.disifi.com

[EmTee]

This is a pretty impressive project, from what I can tell.  Is that star-chart visualization of the network based on actual data, or is it some kind of estimate, vague approximation, or projection?

Hey guys -- no one answered my question

That visualization is really impressive, but I would like to know where it came from and if it is backed by real data.

its real data based on merit blockchain.

It can be viewed at https://dashboard.merit.me and you can select 'Full Network' from the dropdown.

[KAMO287]

Rough timing to launch a new altcoin, but the project looks pretty interesting.

Can you explain a bit more about how this invite-only thing works?  And how is it the foundation for proof-of-growth, as the ANN states?

The invites help drive proof of growth and other features of Merit.

So when a miner (using Proof of Work) finds a block, It has 20 Merit. 10 go to the miner for a reward, and 10 go into a lottery where the growth rewards are distributed. I can go into much more detail, but at a high level people also call it "growth Mining" kinda cool concept.

If you want to try it out let me know:  https://wallet.merit.me/?invite=KAMO287

Is there an easy explanation for how the "Growth Lottery" happens?  Is it based on global activity?  Or just what a user does in the last block?  (Which would only be in the last minute??)  Or something else?

High Level- as you grow your community you get a "Community Growth Score" and that score allows for more attempts at the lottery (basically) - these rewards are payed out Per-block but not based on recent activity necessarily - just kinda a "hey you are all awesome and everyone gets a chance"

Every time a blocked is mined using Proof of Work - Proof of Growth kicks in too. 50/50 split of block rewards. -- Growth Lottery isnt directly tied to invite distribution either.

Hope that helps!

[disifi]

Is there an easy explanation for how the "Growth Lottery" happens?  Is it based on global activity?  Or just what a user does in the last block?  (Which would only be in the last minute??)  Or something else?

Lottery is based on two types of "community growth scores" equally CGS and subCGS (5 MRT and 5 MRT each block). It's combination of your balance with your activity in inviting new people, growing your network. To make your scores bigger, easiest explanation would be:
- get as much Merits as possible
- invite as much people as you can with as much Merits as possible
- teach them to do those two things above, so your network will be growing

[@scambuster]

Did this project do an airdrop yet?  If not, will there be one? 

Also, if you are not doing an ICO, how are bigger investors supposed to be able to buy larger bags?

[AbhijoySarkar]

Oops -- my mistake.  You are right.  I didn't realize there was a dashboard that lets you visualize the network.  Is this an official Merit project?  I didn't see it in the ANN.

Yes, https://dashboard.merit.me/ and everything on it (including the star chart) is part of the official Merit project. It's inspired by the block stats explorer project developed by disifi (https://merit.disifi.com/).

[farting_shot]

Rough timing to launch a new altcoin, but the project looks pretty interesting.

Can you explain a bit more about how this invite-only thing works?  And how is it the foundation for proof-of-growth, as the ANN states?

The invites help drive proof of growth and other features of Merit.

So when a miner (using Proof of Work) finds a block, It has 20 Merit. 10 go to the miner for a reward, and 10 go into a lottery where the growth rewards are distributed. I can go into much more detail, but at a high level people also call it "growth Mining" kinda cool concept.

If you want to try it out let me know:  https://wallet.merit.me/?invite=KAMO287

Is there an easy explanation for how the "Growth Lottery" happens?  Is it based on global activity?  Or just what a user does in the last block?  (Which would only be in the last minute??)  Or something else?

High Level- as you grow your community you get a "Community Growth Score" and that score allows for more attempts at the lottery (basically) - these rewards are payed out Per-block but not based on recent activity necessarily - just kinda a "hey you are all awesome and everyone gets a chance"

Every time a blocked is mined using Proof of Work - Proof of Growth kicks in too. 50/50 split of block rewards. -- Growth Lottery isnt directly tied to invite distribution either.

Hope that helps!

Quite interesting -- is there some simple explanation for how the community growth score (CGS) is calculated?  If not, can someone point me to the section in the BluePaper about it?