[ANN][GALI][AIRDROP/BOUNTIES] - MN/PoS/zPoS Hybrid - Dynamic Zerocoin Staking

[mbroemme]

[ WHITEPAPER TRANSLATION BOUNTY OPENED ]


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[ Galilel Coin ]

Galilel Coin (GALI and zGALI) is an open-source public and private Proof-of-Stake digital crypto currency for fast (using SwiftX), private (Zerocoin protocol) and secure micro transactions. Our main goal is to create a decentralized fully secure and anonymous network to run applications, which do not rely on any central body control. By having a distributed system, thousands of users will be responsible for maintaining the application and data so that there is no single point of failure.

While Zerocoin solves the traceable reward generation problem, Galilel will implement hybrid mobile Proof-of-Stake (ghPoS) for public and private coins. The Term Deposit (gTD) function allow to lock coins for a certain period and generate predictable rewards. Masternode owners get the possibility to vote for reward reduction or complete burning for a specific period to reduce coin generation. The Galilel Money Supply Control (gMSC), effectively Proof-of-Burn v2 burns only rewards, never term deposits and development budget. The period for coin burning will be 1 month with a range between 0% - 100%. Every month is applicable for voting. Galilel Instant On Masternode (gIOMN) implements a shared blockchain to run one-to-many wallet daemons in a client server model. It is comparable to "Instant On" model available in Electrum client.

With early release of Galilel wallet v3.1.0 we delivered the worlds first crypto currency which has proportional Zerocoin Proof-of-Stake (zPoS) rewards depending on the block reward!

[ Coin Specifications ]

	_______________________________	_________________________________________
	Description	Parameter
	Coin name	Galilel
	Coin ticker	GALI
	Hash algorithm	Quark
	Consensus algorithm	PoS + zPoS Hybrid
	Coin type	PoW/PoS/zPoS/MN
	Wallet letter	U
	Block size	2 MB
	Block time	60 Seconds (Re-targeting every block)
	RPC port	36002
	P2P port	36001
	Minimum staking age	2 hours
	Maturity	120 confirmations
	Send eligibility	6 confirmations
	Masternode collateral	15,000
	Last PoW block	1,500
	Rewards (till block 1,500)	MN 60%, PoW 40%
	Rewards (till block 205,000)	MN 60%, PoS 40%
	Rewards (from block 205,001)	MN 70%, PoS 30%
	Max Coin Supply (January 2020)	19,035,999 GALI
	Max Coin Supply (January 2030)	45,315,999 GALI
	Max Coin Supply (January 2040)	71,595,999 GALI
	Max Coin Supply (January 2050)	97,875,999 GALI
	Dynamic Coin Supply	Transaction fees & zGALI minting fees are burnt
	Community donation address (BTC)	13vZmvxWcpMxZPr2gtf4QBS8Q2En6kB3mo
	Community donation address (GALI)	UUr5nDmykhun1HWM7mJAqLVeLzoGtx19dX
	Community donation address (LTC)	MAfouCFTBX4hJWTmAvTpFSuwzUZr4gtxDv
	Community donation address (DOGE)	DFY1iAcbX8uQDaFAFQckSGJfYBb6QzTuMi
	Dev Budget (from block 250,001)	10% in monthly superblock

[ Zerocoin Specifications ]

	_______________________________	_________________________________________
	Description	Parameter
	Zerocoin v1 activation	block 245,000
	Zerocoin v2 activation	block 245,000
	zGALI automint	10%
	zGALI rewards (from block 245,001)	1 zGALI
	zGALI rewards (from block 340,001)	MN 40%, zPoS 60%
	zGALI rewards (from block 430,001)	MN 40%, zPoS 60%
	zGALI denominators	1, 5, 10, 50, 100, 500, 1000, 5000
	Accumulator modulus	RSA-2048
	Maturity	240 confirmations
	Send eligibility	20 confirmations
	Fees (mint)	0.01 GALI per minted zGALI denomination
	Fees (spend)	No fee

[ Proof-of-Work Rewards Breakdown ]

	________	____________	____________	_____	_____	___________	_______	__________
	Stages	Block Height	Reward	MN	PoW	Coin Supply	Period	Stage End
	Stage 1	Block 1	220,000 GALI	60%	40%	220,000	0 days	2018-05-25
	Stage 2	Block 2-1,500	1 GALI	60%	40%	221,499	1 day	2018-05-26

[ Proof-of-Stake Rewards Breakdown ]

	________	________________	________	_____	_____	___________	_______	__________
	Stages	Block Height	Reward	MN	PoS	Coin Supply	Period	Stage End
	Stage 1	1,501-12,000	100 GALI	60%	40%	1,271,399	7 days	2018-06-02
	Stage 2	12,001-22,000	90 GALI	60%	40%	2,171,309	7 days	2018-06-09
	Stage 3	22,001-42,000	80 GALI	60%	40%	3,771,229	14 days	2018-06-23
	Stage 4	42,001-100,000	70 GALI	60%	40%	7,831,159	40 days	2018-08-02
	Stage 5	100,001-160,000	60 GALI	60%	40%	11,431,099	42 days	2018-09-13
	Stage 6	160,001-205,000	50 GALI	60%	40%	13,681,049	31 days	2018-10-14
	Stage 7	205,001-250,000	25 GALI	70%	30%	14,806,024	31 days	2018-11-14
	Stage 8	250,001-340,000	13.5 GALI	70%	30%	16,156,009	62 days	2019-01-15
	Stage 9	340,001-430,000	10 GALI	70%	30%	17,055,999	62 days	2019-03-18
	Stage X	430,001-infinity	5 GALI	70%	30%	ongoing	ongoing	ongoing

[ Competitive Analysis ]

	_____________________________	______	______	_____	________
	Feature	Galilel	Dash	PIVX	ROI Coin
	Public Staking	Y	N	Y	N
	Private Staking	Y	N	Y	N
	Instant Send	Y	Y	Y	N
	Private Send	Y	Y	Y	N
	Masternodes	Y	Y	Y	N
	Decentralized Governance Voting	Y	Y	Y	N
	Variable Reward Distribution1	N	N	Y	N
	Dynamic Zerocoin Proof-of-Stake	Y	N	N	N
	Proof-of-Transaction	Y	N	N	N
	Variable Reward Burning	Y	N	N	N
	Disconnected Blockchain	Y	N	N	N
	Mobile Proof-of-Stake	Y	N	N	N
	Term Deposits	Y	N	N	Y

^{1 Possible to implement in Galilel using Seesaw algorithm}



[ Community ]

Get in touch with the core team of Galilel, join our Discord channel, follow us on Twitter and Facebook or write a post in BitcoinTalk forum.

                             

[ Marketing ]

Partners and market capitalisation websites promoting Galilel and providing monitoring or masternode hosting services.

                                       

                                       

                                       

	Maik Broemme	Miles Clay	Manuel Gogoll
	Babyface#7772	Bossteck#6262	Cryptogerman#8070
	Founder & Developer	Co-Founder & Designer	Marketing & Campaigns
	Pascal Rebholz	Alex Mesquita	Sascha Volland
	crypto5.0#6432	Alex Mesquita#9361	coreyou#6882
	Marketing & Campaigns	Partnerships & Business Development	Partnerships & Business Development
	Armand Pers	Christian Grieger	Ehsan Khademi
	Bio_Logik#7089	Swooty#5527	eshby#4291
	Designer	Front-End & Back-End Developer	Business Manager

[ Paper Wallet ]

Galilel Paper Wallet is an offline wallet, regarded as cold storage.



[ Binaries ]

We release new wallets with new features frequently as we are a blockchain development coin. To simplify maintenance you can always find latest version at our website.

Wallet Downloads

[ Repositories ]

Galilel repositories include wallet, backend and daemon source as well as media files.



[ List of official active seeds ]

Code:

addnode=seed1.galilel.cloud
addnode=seed2.galilel.cloud
addnode=seed3.galilel.cloud
addnode=seed4.galilel.cloud
addnode=seed5.galilel.cloud
addnode=seed6.galilel.cloud
addnode=seed7.galilel.cloud
addnode=seed8.galilel.cloud

[ Exchanges ]

Galilel Coin can be traded on the following exchanges:

                                                 



[ Help us to spread the word about Galilel Project worldwide! ]

For translating the ANN into one of the languages below you will be rewarded with 1000 GALI.
We do not accept the Google translate translations!

Arabic
Chinese - DONE
Croatian - DONE
Czech
Dutch - DONE
Filipino
French - DONE
German - DONE
Hungarian
Indian
Indonesian - DONE
Italian - DONE
Japanese
Korean
Polish
Portuguese
Romanian
Russian - DONE
Slovak
Spanish - DONE
Turkish
Ukraine
Vietnamese - DONE

[ WHITEPAPER TRANSLATION BOUNTY - OPENED - 2019-02-01 ]

For translating the whitepaper into one of the languages below you will be rewarded with 1000 GALI.
We do not accept the Google translate translations!

Arabic - DONE
Chinese
Croatian
Czech
Dutch
Filipino
French - RESERVED
German - RESERVED
Hungarian
Indian
Indonesian
Italian - DONE
Japanese
Korean
Polish
Portuguese
Romanian
Russian
Slovak
Spanish - RESERVED
Turkish
Ukraine
Vietnamese

For Word version of whitepaper, please send PM or come to our Discord

[ WHITEPAPER SPECIAL STAR TREK BOUNTY - 5000 GALI ]

This is a very special translation bounty and no joke. We will pay 5000 GALI to him/her who translates the whitepaper into Klingon language!



Open and ongoing in our Discord
__________________________________________________________
__________________________________________________________
__________________________________________________________

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______________________________
______________________________
______________________________

Your galilel.cloud Team

[1550431934]

1550431934

[1550431934]

1550431934

[aurumrex]

Very interesting project which will implement unique blockchain features. I see DEV is very active. I can see his real identity and he absolutely has knowledge as well as experience to implement all blockchain improvements/features. I've really never seen such professionalism and commitment before. I hope this project will be equally successful as PIVX project.

[gold969]

 a fairly well-prepared project that I see lately. I can not find the date of your launch of mining, and the last block shows a few days ago ??
287210   7bcaba211cde3ef22b7300930d6cfb83579de89b3e2e88c4fda9476d842cd6cb   2   13.50000000   Tue, 11 Dec 2018 23:08:41 GMT
 https://explorer.galilel.cloud/

[mbroemme]

 a fairly well-prepared project that I see lately. I can not find the date of your launch of mining, and the last block shows a few days ago ??
287210   7bcaba211cde3ef22b7300930d6cfb83579de89b3e2e88c4fda9476d842cd6cb   2   13.50000000   Tue, 11 Dec 2018 23:08:41 GMT
 https://explorer.galilel.cloud/

The Genesis block is from May 25th and we had already an announcement in an old thread here at https://bitcointalk.org/index.php?topic=4238243.0 But it was with old specs and old use case. It was changed completely to a blockchain development coin and our users made already 2 hard forks with us, one for zGALI activation and another one for zPoS.

The explorer is currently a bit unstable. The Iquidus explorer and their forks are not working well for zPoS, we are going to change this next week to better one.

[Bitcoin Miners]

It is a long waiting time, when all bounties, airdrops will be paid or opened on the 51th week.
More than one year after the launch of GALI main net, it is a long period, honestly.

Anyway, I have added the topic into my Following Spreadsheet for later use (one year from now).

[mbroemme]

It is a long waiting time, when all bounties, airdrops will be paid or opened on the 51th week.
More than one year after the launch of GALI main net, it is a long period, honestly.

Anyway, I have added the topic into my Following Spreadsheet for later use (one year from now).

May 25th 2018 was the launch of Mainnet. Actually I can understand that it has been a long time, but I don't like to announce only myths and promises. I really dislike it, like with so many coin announces and orphaned blockchains after a month or so. I usually announce only stuff which has already been done, or when deliverables have been correctly scoped. Look at it from the other side. The Genesis block is from May 25th and the chain is constantly and actively developed. Even if I haven't posted much at BitcoinTalk, my account is almost 5 years old, so I read the forum carefully. And thanks for the feedback, very much appreciated.

[dzkrb1966]

You wrote. "With the early release of Galilel Wallet v3.1.0, we delivered the world's first cryptocurrency, which has a proportional Zerocoin Proof-of-Stake (zPoS) reward, depending on the block reward!". Is it possible to develop this idea in more detail? What is the reward scheme?

[mbroemme]

You wrote. "With the early release of Galilel Wallet v3.1.0, we delivered the world's first cryptocurrency, which has a proportional Zerocoin Proof-of-Stake (zPoS) reward, depending on the block reward!". Is it possible to develop this idea in more detail? What is the reward scheme?

Let me explain it in hopefully simple words:

1. If you fork recent PIVX and enable zPoS, the zPIV stake rewards are hard-coded in the source, so you always get 3 zPIV. The reason is because in PIVX there was no need to make it dynamic according to the block reward as they are already in ongoing 5 PIV reward phase which runs forever.
2. zPIV/zGALI are minted in so called denominations which represents a natural number of specific coin amount. In PIVX and GALI case it are: 1, 5, 10, 50, 100, 500, 1000 and 5000.
2. zPIV/zGALI has to be an integer value because smallest possible denomination is 1, so 1 zGALI. This means the whole reward scheme has to be carefully reviewed. To be honest I'll made some mistake here as well during activation, that's why we have currently the decimal 13.5 GALI reward phase.
3. We implemented zPoS in our phase 8 of rewards and we still have 2 phases coming with coin reduction to 10 GALI and 5 GALI. So, one option was to hard-code the zGALI rewards to 3 as well, but this doesn't give zGALI stakers a benefit until rewards are decreased to 5 GALI. That was the reason to make it dynamic. In our case it means the following:

Phase	Reward	MN	PoS	zPoS
___________	__________	___________________________	___________	________
Phase 8	13.50	If PoS: 9.45 / If zPoS: 12.50	PoS: 4.05	zPoS 1.00
Phase 9	10.00	If PoS: 7.00 / If zPoS: 4.00	PoS: 3.00	zPoS 6.00
Phase 10	5.00	If PoS: 3.50 / If zPoS: 2.00	PoS: 1.50	zPoS 3.00

4. In Galilel v3.1.0 this is really a preliminary feature because we still use zGALI denominator 1, so it means in Phase 9 we need to generate 6 * 1 zGALI which is very CPU intensive and probability to generate an orphan block is higher since a public coin staker can solve the block later but distribute it to the chain faster. This will be changed in upcoming optional wallet which will auto resolve best denomination structure. That is the reason why we currently are in slow startup zPoS phase with 1 zGALI. In our case it would be:

v3.1.0: 6 * 1 zGALI (6 mints, each requires CPU time)
v3.1.1: 1 * 1 zGALI + 1 * 5 zGALI (2 mints, lower probability to generate orphan block)

Actually the biggest benefit for blockchain developers is that #4 makes coin forks with zPoS much easier as auto resolve of best denomination structure will even work for coins which generate very high amounts per block.

[fitraok09]

why every first time I turn on the wallet, my wallet always generates a new address

my problem was solved when I locking my wallet

[BannedHMD]

I would like to reverse myself for Vietnamese(ANN thread, wp, website)
Bitcointalk name: BannedHMD
Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=2427281
Tele: @haoanhhungxt2
Eth address: 0x2c9e21119751F4b2f2484810752CE57a138f7777
Portfolio: https://docs.google.com/document/d/1SXGn6-6rHzRcOGd5-O6ph5DZb8mp32zhPqxReMXerfU

Please PM me if i'm accepted.
Thank you.
Contact me: haminhdiem@gmail.com

[mbroemme]

Now, we are listed on exchange Cratex.io with the following pairs:

https://cratex.io/index.php?pair=GALI/BTC
https://cratex.io/index.php?pair=GALI/LTC
https://cratex.io/index.php?pair=GALI/BTCZ

Also the following partners have listed Galilel:

https://coinranking.com/coin/galilel-gali
https://coinlore.com/coin/galilel

[BMGCoin]

great to see being list in exchange

[motienvolam]

Now, we are listed on exchange Cratex.io with the following pairs:

https://cratex.io/index.php?pair=GALI/BTC
https://cratex.io/index.php?pair=GALI/LTC
https://cratex.io/index.php?pair=GALI/BTCZ

Also the following partners have listed Galilel:

https://coinranking.com/coin/galilel-gali
https://coinlore.com/coin/galilel

The GALI team should re-design GALI's signature codes with better graphic designs.
And, I propose the team to run promotions with new redesigned codes.
Please spend a couple of mins to think of it.

[mbroemme]

The GALI team should re-design GALI's signature codes with better graphic designs.
And, I propose the team to run promotions with new redesigned codes.
Please spend a couple of mins to think of it.

I'm not the designer, only the dev and coin owner. So could you please explain it in more detail. If you want even as PM. I'm open for any suggestion.

[m3mbr44n]

Interesting project that is running already for a while I notice. Happy to see that a bootstrap is available to catch up. Well done.

[zzwensel11]

It's nice to see a project with an active dev (here and in Discord). I hope the community will continue to grow. I will be following GALI for sure.

[cryptobooya]

Great looking project, dev is VERY active, loads of updates but most of all communication is top notch.

Potential is there for big things.

[eshby]

I already had several interesting discussions with the lead dev about his ideas and the future of the project in the Discord. He always answers every question and is highly active. So best to check out the Discord and ask what you want to ask. Also a lot of very helpful Community members there that always help out even technically not well-versed coin holders. The recent two hard-forks worked out well and even people like me who are not tech heads and did it for the first time had no problems with it due to the very high community engagement of the team and other community members.

[m3mbr44n]

I already had several interesting discussions with the lead dev about his ideas and the future of the project in the Discord. He always answers every question and is highly active. So best to check out the Discord and ask what you want to ask. Also a lot of very helpful Community members there that always help out even technically not well-versed coin holders. The recent two hard-forks worked out well and even people like me who are not tech heads and did it for the first time had no problems with it due to the very high community engagement of the team and other community members.

Yes, community is quite active and engaged. I hope this is going to grow even more and lead to a nice long-term project. The backup tech-wise seems solid.

[RJX]

Dutch local thread is now live, check it out here.