Bitcoin Forum
August 18, 2019, 04:32:17 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: [ANN] [POW] Promethium Chain PCM | NO ICO NO PREMINE PEOPLES MONEY  (Read 912 times)
PromethiumDev
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
July 30, 2019, 06:29:24 AM
Last edit: August 17, 2019, 05:09:28 PM by PromethiumDev
 #1


Promethium Coin - Peoples Money 2019
Ticker: PCM

This is a pre ann, as we are moving closer to the mainnet launch we will update GitHub and official site.
Please join our discord or our keybase group for more info.


Website: www.promethiumchain.com
Github: https://github.com/promethiumchain
Discord: https://discord.gg/mebynhG
Twitter: https://twitter.com/ChainPromethium
Keybase:  https://keybase.io/promethiumdev
Bitcointalk:

In nature, Promethium is a chemical element with the symbol Pm and atomic number 61. All of its isotopes are radioactive; it is extremely rare, with only about 500–600 grams naturally occurring in Earth's crust at any given time.

On-chain, the Promethium coin represents the people's money(PM) as it is based on fair distribution and steady inflation. Without a single coin pre-mined, no ICO or any other fundraising.

Promethium coin aims to be a global currency representing also as a store of value by unifying APIs, from virtual goods such as artwork, music, game items to 3rd party applications.

Mining:
We have chosen to implement a new proof of work algorithm called Promethium-Loaded-Hash (PLHash).
PLHash is very similar to a brand new approach to proof of mining algorithms by Jeffrey Emanuel * but with some differences.

We use only the 512 outputs and add reverse replication in two of the passes that are needed, the passes are  SHA256+rev, SHA512, SHA512, BLAKE2S+rev, BLAKE2B.
We also chose to do simple arithmetic on the final hash A+B-C*D/E instead of a multiplication of all the resulting hashes.
Forks may update the pool of math functions used(we will start the network with 100) that will make the production of ASIC machines impossible and will keep the network as decentralized as possible. More info on that on the medium article.
Our goal is to keep the mining in a decentralized manner and as much as possible more GPU friendly.

This mining algorithm along with the 51% protection (inspired by Horizen) and the node maturity engine, will ensure that the network stays attractive for our main target group which is the average user with a GPU that would like to create some value with his machine or interact with other users and trade value and stay safe from the known attacks.



Wallet:
Via the wallet that represents the core application of the chain, the user will be able to connect with other peers and transact or trade goods with safety via the provided APIs.
The user will be able to post offers or receive offers from other peers and interact on those via a secure escrow system handled by the smart contracts.
On top of that, an alias system unique for each user will be applied so that reviewing and rating can be applied to users(vendors).

In the first release of the wallet application trades will be only available for the APIs that the smart contract support and can evaluate.

With the addition of the sidechains, nodes will eventually be rated and have a maturity time on the network to ensure a healthy decentralized community. Honest nodes that will stay active over a threshold of time will have the ability to share the blockchain while newcomers will have to depend on the boot nodes and the honest nodes to get the chain data.
This will ensure that Sybil attacks are not possible and there will be no need to add master nodes to secure the chain later on.

Finally, a stable coin pair will be introduced in the second quarter of 2020 based on side chains, with the ability for every wallet to mint directly Promethium-Coin to Promethium-USD and Promethium-EUR (for the launch, more pairs are planned) so that users can more convenient manage they're incomes and savings.




Some key points of the Promethium chain.

Chain :
ASIC resistant with a new mining algorithm PLHash.
Based on the proven Ethereum codebase that enables the use of smart contracts.
51% attack protection.
No initial coin offering (ICO).
No pre-mine.
Developers reward 15%(phase 1) dropping to 10%(phase 2)  to 5%(phase 3) and finally to 3%(phase 4).
Side-chain system for use of aliases and rating system for nodes.
Stable coins.


Wallet:

API integration via the wallet for all majors platforms for virtual goods(Bandcamp, Steam and so on).
On-chain games via the wallet.


APIs for the first release of the wallet:
Bandcamp(music, artworks)
Steam(virtual items)

Specs :
Algo: PLHash
Block Time: 12s
ICO: No
Pre-mine: No
Master nodes: No
Dev Reward: Yes (phased)
Ticker: PCM

Distribution:

Phase 01
Block Reward: 3 PCI Coins per Block
Miners Reward: 85%
Developers Reward: 15%
Duration: 3.000.000 blocks
Total Coins generated: 9.000.000 PCM
Coins awarded to miners: 7.650.000 PCM
Coins awarded to the team: 1.350.000 PCM
Total coins in existence: 9.000.000 PCM

Phase 02
Block Reward: 2 PCI Coins per Block
Miners Reward: 90%
Developers Reward: 10%
Duration: 1.500.000 blocks
Total Coins generated: 3.000.000 PCM
Coins awarded to miners: 2.700.000 PCM
Coins awarded to the team: 300.000 PCM
Total coins in existence: 12.000.000 PCM

Phase 03
Block Reward: 1 PCI Coins per Block
Miners Reward: 95%
Developers Reward: 5%
Duration: 1.500.000 blocks
Total Coins generated: 1.500.000 PCM
Coins awarded to miners: 1.425.000 PCM
Coins awarded to the team: 75.500 PCM
Total coins in existence: 13.500.000 PCM

Phase 04
Block Reward: 1 PCI Coins per Block
Miners Reward: 97%
Developers Reward: 3%
Duration: §blocks




Images from the wallet developement:

https://imgur.com/a/YM2Luir


*  https://medium.com/@jeffrey.emanuel/loaded-pow-a-new-direction-in-proof-of-work-algorithms-ae15ae2ae66a
(a very similar  idea and python implementation from Jeffrey Emanuel from Anime Coin)
1566145937
Hero Member
*
Offline Offline

Posts: 1566145937

View Profile Personal Message (Offline)

Ignore
1566145937
Reply with quote  #2

1566145937
Report to moderator
1566145937
Hero Member
*
Offline Offline

Posts: 1566145937

View Profile Personal Message (Offline)

Ignore
1566145937
Reply with quote  #2

1566145937
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1566145937
Hero Member
*
Offline Offline

Posts: 1566145937

View Profile Personal Message (Offline)

Ignore
1566145937
Reply with quote  #2

1566145937
Report to moderator
q3579338
Newbie
*
Offline Offline

Activity: 24
Merit: 0


View Profile
July 30, 2019, 07:50:39 AM
 #2

invite invaild
PromethiumDev
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
July 30, 2019, 08:11:20 AM
 #3

ty fixed
AkiAfroo
Jr. Member
*
Offline Offline

Activity: 109
Merit: 2


View Profile
July 30, 2019, 08:32:17 AM
 #4

website/github is offline.
PromethiumDev
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
July 30, 2019, 08:42:29 AM
 #5

Repo is getting ready and it will be up in the next days.
This is after all a pre ann.
It's going to be open source everyone can look into the code and compile for themselves.
We just want to keep the implementation closed until this baby goes live.
For the mainnet launch, there will be a prior notice and a fixed date so everyone can participate in block 1.
Also please note that the discord is there for making proposals or adding something to the project.
We are open to questions suggestions and everything related to open projects.
Feel free to join and help this is a community project all the way.

https://discord.gg/GVaXWC
masterpro.site
Newbie
*
Offline Offline

Activity: 11
Merit: 0


View Profile
July 31, 2019, 09:06:58 PM
 #6

reserved!!
altairray
Newbie
*
Offline Offline

Activity: 9
Merit: 0


View Profile
July 31, 2019, 11:08:43 PM
 #7

Add a permanent link to discord not the one which will expire
Doghunt87
Newbie
*
Offline Offline

Activity: 51
Merit: 0


View Profile
August 01, 2019, 01:29:33 AM
 #8

discord link not working
PromethiumDev
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
August 01, 2019, 04:51:50 AM
 #9

discord link not working

fixed thanks
PromethiumDev
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
August 01, 2019, 09:31:24 AM
 #10

Github repo active
mandown
Member
**
Online Online

Activity: 196
Merit: 11


View Profile
August 01, 2019, 09:40:12 AM
 #11

what is miner?
rossjamie
Member
**
Offline Offline

Activity: 101
Merit: 10

Anonymous


View Profile
August 01, 2019, 10:27:30 AM
 #12

Is it CPU Mineable at first?

Trust no one. Crypto is a dangerous world even trusted people especially fake account and service.
No advertisement here
PromethiumDev
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
August 02, 2019, 07:43:55 AM
 #13

The algorithm is brand new and we are finishing up the implementation as we speak we are also getting the miner preparations up.
It is a CPU/GPU minable algorithm. NO FPGAS and definitely NO ASICS.

If anyone wants to help with a miner or pool, feel free to contact me.
Thanks
TCX
Newbie
*
Offline Offline

Activity: 28
Merit: 0


View Profile
August 02, 2019, 03:35:35 PM
 #14

TradeCX is a swift and easy-to-use cryptocurrency exchange! We would like to invite you to apply in order to be listed! Below you can find all of the necessary information:

- Fast Depositing
- Clean UI (Mobile Friendly)
- Low Fees (Trading 0.1% and low withdrawal)- No depositing fees
- Quick support with issues
- Smooth trading

Website: https://tradecx.io/

Listing Form: https://docs.google.com/forms/u/1/d/1sr2PM5xTRYsqRP3YJ3be4PAOToRq6_mJnO_Zc1sZdys

Discord: https://discordapp.com/invite/hQCJF96
Doghunt87
Newbie
*
Offline Offline

Activity: 51
Merit: 0


View Profile
August 02, 2019, 04:54:13 PM
 #15

TradeCX is a swift and easy-to-use cryptocurrency exchange! We would like to invite you to apply in order to be listed! Below you can find all of the necessary information:

- Fast Depositing
- Clean UI (Mobile Friendly)
- Low Fees (Trading 0.1% and low withdrawal)- No depositing fees
- Quick support with issues
- Smooth trading

Website: https://tradecx.io/

Listing Form: https://docs.google.com/forms/u/1/d/1sr2PM5xTRYsqRP3YJ3be4PAOToRq6_mJnO_Zc1sZdys

Discord: https://discordapp.com/invite/hQCJF96
hi im interested in ur exchange,may i ask if u have a listing fee ?
cheers
Ryoting
Jr. Member
*
Offline Offline

Activity: 35
Merit: 1


View Profile
August 07, 2019, 04:11:02 PM
 #16

discord link not working

fixed thanks

Still not working. You have to make the invite link permanent.
PromethiumDev
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
August 08, 2019, 07:28:50 AM
 #17

i just checked and it was working fine give it another go please thank you

https://discord.gg/8W4jbrN
pochy123
Jr. Member
*
Offline Offline

Activity: 189
Merit: 1


View Profile
August 08, 2019, 03:09:30 PM
 #18

i just checked and it was working fine give it another go please thank you

https://discord.gg/8W4jbrN
discodia does not work
when they launch the network?
PromethiumDev
Newbie
*
Offline Offline

Activity: 10
Merit: 0


View Profile
August 09, 2019, 07:29:31 AM
 #19

i just checked and it was working fine give it another go please thank you

https://discord.gg/8W4jbrN
discodia does not work
when they launch the network?


https://discord.gg/mebynhG

discord working fine
testnet on monday
join us
NewRewardCoin
Newbie
*
Offline Offline

Activity: 42
Merit: 0


View Profile WWW
August 11, 2019, 10:38:34 AM
 #20

Quote
Promethium Chain has been added to
https://newrewardcoins.com

New Reward Coins
POW | POS | Masternodes
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!