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Author Topic: [ANN][NCTR] Encointer:An Ecological, Egalitarian and Private Cryptocurrency  (Read 322 times)
brenzi
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November 29, 2018, 09:31:05 PM
Last edit: November 13, 2019, 07:06:22 PM by brenzi
 #1

Encointer

An Ecological, Egalitarian and Private
Cryptocurrency and Self-Sovereign Identity System

encointer proposes a new blockchain based cryptocurrency with an ecological consensus mechanism using trusted execution environments and an egalitarian money supply policy. Money issuance is done through a universal basic income subject to a proof-of-personhood. Individuals attending randomized pseudonym key signing events obtain such proofs. encointer also features scalable private transactions and trustless off-chain smart contracts.

Links:

Quick Facts:
consensusdemocratic, unpermissioned proof-of-elapsed-time (dPoET). One person (max) one vote
democratic?proof-of-personhood (PoP) by means of randomized pseudonym key signing events
ecological?no PoW mining
egalitarian?uncapped issuance of universal basic income of one NCTR for each PoP. Money supply follows adoption. No early-adopter bonus. no premine. no ICO
native tokenencointer [NCTR]
tx fees0.1% of tx value, enabling microtransactions
privacyguaranteed by trusted execution environments (TEEs)
smart contractsyes, off-chain in TEEs
original publishing dateNov. 18th, 2018, concept whitepaper
governanceto be lead by not-for-profit cooperative under Swiss law. Community referendums with 2/3 majority against cooperative decisions

Development Status:
Now: A first mobile phone app PoC has been developed to take out meetups. Also, confidential transactions are implemented with substraTEE based on substrate blockchain technology.
Testnet: No dates promised. Planned for end of 2019.  looking for contributors
Mainnet: No dates promised



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December 02, 2018, 05:17:37 PM
 #2

Hi, do we have a discord channel to talk and share about development? Looking forward to contribute once have a better understand.
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December 02, 2018, 05:25:41 PM
 #3

The biggest concern with projects such as this, is funding and how committed the team or yourself is to fulfilling every fundamental in building a framework. Egalitarian is a trigger word for me, as i've been around since the NEM days, the philosophy behind this all is really dear to my heart.

We are in an age, where coins such as this, will never be enormous due to the entry-barrier, in thousands/tens even hundreds of thousands in private investments are needed to successfully launch and grow a crypto.

 

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December 02, 2018, 05:30:25 PM
 #4

Just read the description and I would say, I mean in my mind, the first impression that I have with this coin is that it is very interesting indeed to have this and it seems that you do have the means or the know how to be able to pull this off. Is there any plans for this to have something like ecommerce integration where we can use it in purchasing of goods and services?

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brenzi
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December 03, 2018, 10:06:58 PM
 #5

Hi, do we have a discord channel to talk and share about development? Looking forward to contribute once have a better understand.
I've added a discord invite link to the OP. Looking forward to sharing ideas

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December 03, 2018, 10:13:11 PM
 #6

The biggest concern with projects such as this, is funding and how committed the team or yourself is to fulfilling every fundamental in building a framework. Egalitarian is a trigger word for me, as i've been around since the NEM days, the philosophy behind this all is really dear to my heart.

We are in an age, where coins such as this, will never be enormous due to the entry-barrier, in thousands/tens even hundreds of thousands in private investments are needed to successfully launch and grow a crypto.
I think encointer needs a proof of concept running code before looking for funding. That will take some time.

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December 03, 2018, 10:26:39 PM
 #7

Is there any plans for this to have something like ecommerce integration where we can use it in purchasing of goods and services?
There will have to be everyday usability for NCTR for it to serve its purpose. As it is not designed as a speculative asset, hodling won't be very attractive.

Scaling to everyday purchases will not be possible onchain. As NCTR will be based on TEEs, second layer scaling is expected to be easier to do than i.e bitcoin lightning. See for example Teechan. Also, approaches like liquidity.network would benefit from TEEs and fit well to encointer.
But first things first....

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January 22, 2019, 11:31:07 PM
 #8

hi good token
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February 23, 2019, 04:53:35 PM
 #9

Check out our new introductory video and pimped updated homepage

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February 23, 2019, 05:11:50 PM
 #10

Check out our new introductory video and pimped updated homepage


Your website is powered by WordPress. Are you going to have a more safe and secure framework in the future?
brenzi
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February 23, 2019, 07:17:48 PM
 #11

Your website is powered by WordPress. Are you going to have a more safe and secure framework in the future?
This homepage is a quick and dirty solution. I think it's fine for now. I'd rather focus on our first PoC testnet right now.
But thanks for the hint. We'll look into this.

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March 20, 2019, 12:51:27 AM
 #12

Your website is powered by WordPress. Are you going to have a more safe and secure framework in the future?
This homepage is a quick and dirty solution. I think it's fine for now. I'd rather focus on our first PoC testnet right now.
But thanks for the hint. We'll look into this.

After my post here, no one bothered to disturb your peaceful life?  Grin Grin Grin
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March 20, 2019, 01:49:56 AM
 #13

Hello, good day!

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March 20, 2019, 03:21:50 AM
 #14

As this is also described as an identity system I don't see at first glance how identity is going to be done with just this coin. There are a lot of problems for digital identity. How will you solve this?

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brenzi
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April 14, 2019, 03:36:07 PM
 #15

As this is also described as an identity system I don't see at first glance how identity is going to be done with just this coin. There are a lot of problems for digital identity. How will you solve this?
The main problem that encointer solves is ensuring that every person can get exactly one id, none more. Physical attendance to regular key-signing events with randomized groups of people is required in order to maintain one's id.

Privacy measures are discussed in the whitepaper as well.

Of course there are other aspects to an id system, not discussed in the whitepaper. What would you like to know more about?

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June 18, 2019, 06:09:41 PM
 #16

A quick update on what is happening:

My team is currently working on substraTEE, an off-chain worker running in a trusted execution environment, namely Intel SGX. This project will hugely benefit the development of encointer as it basically solves the confidentiality and scalability part of the encointer idea. We'd like to thank the web3 foundation for supporting this development with a grant.

On the other hand, we've built a first PoC of a mobile phone app to take out ceremony meetups for Proof-of-Personhood. Thanks to Noa for writing his thesis on encointer.

I can't promise anything, but the plan is to have a first alpha-testnet ready by the end of the year.

stay tuned!

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November 11, 2019, 08:52:35 PM
 #17

Pleased to announce PoC1:
https://youtu.be/vmLV00uaRC0

This video demonstrates how proof of personhood is going to work on encointer. The PoC is based on parity substrate and an android app.


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