Announcing ProzCoin : Proof of Action (PoA)

[bitwarrior]

I don't get it, what do you get by bashing the Team? Even more so without any valid argument to be given..

His arguments are invalid, I see now a couple of trolls here quite fudding this coin with lame evidences, I suggest that you just add them on your ignore list.
Thanks.

[genecyber]

My theory is, when there is potential with an offering, when trolled the coin becomes volatile and economics shows that volitility means profits, most likely by perpetrators of the negativity. 

As for the 80% that's being held back from exchanges only 10% is going to devs, seriously 10% split between founders payable upon successful vesting of 1,2 and the 3rd year. The caveat of the vesting is that I'm using our requirement of vesting to make a wallet that will payout based on vested time. An open sourced publicly available distributed wallet. A self imposed escrow.

Much of prozcoin is going to be given away. Mined by interacting as you normally would but rewarding quality interaction and content creation.

The era of the PreMine concept is over.
Bitcoin 2.0, Meta coins, DApp's are the future. Soon exchanges will be more peer 2 peer, not a central point of attack for crypto hackers. We aim to be a community of crypto enthusiasts who decide together what we want to see next. As resources dwindle the proof of work model becomes less viable. We and most others who understand the project have faith in the model and like the idea of the coin they are given and the give to others.

Did you know that when the mastercoin DeX goes live you wil be able to trade any mastercoin protocol asset with each other? Maybe you are a Band or an Artist and you need your own coin to help realize your dream. With CoinProz you will have a place to launch that that can offer support, shared experience, an R&D department who strives to bring test and invent the bleeding edge. And ultimately hand the keys to you. 

-Shannon

[ScryptHasher]

My theory is, when there is potential with an offering, when trolled the coin becomes volatile and economics shows that volitility means profits, most likely by perpetrators of the negativity. 

As for the 80% that's being held back from exchanges only 10% is going to devs, seriously 10% split between founders payable upon successful vesting of 1,2 and the 3rd year. The caveat of the vesting is that I'm using our requirement of vesting to make a wallet that will payout based on vested time. An open sourced publicly available distributed wallet. A self imposed escrow.

Much of prozcoin is going to be given away. Mined by interacting as you normally would but rewarding quality interaction and content creation.

The era of the PreMine concept is over.
Bitcoin 2.0, Meta coins, DApp's are the future. Soon exchanges will be more peer 2 peer, not a central point of attack for crypto hackers. We aim to be a community of crypto enthusiasts who decide together what we want to see next. As resources dwindle the proof of work model becomes less viable. We and most others who understand the project have faith in the model and like the idea of the coin they are given and the give to others.

Did you know that when the mastercoin DeX goes live you wil be able to trade any mastercoin protocol asset with each other? Maybe you are a Band or an Artist and you need your own coin to help realize your dream. With CoinProz you will have a place to launch that that can offer support, shared experience, an R&D department who strives to bring test and invent the bleeding edge. And ultimately hand the keys to you. 

-Shannon

Your so stupid.. what coin will be around in 1, 2 and 3 years...

the answer is like 3...

and ProzCoin a.k.a. 100% mined coin is not one of them.

[ProzCoin]

Here is a nice blog from Shannon about his work on Mastercoin integration:

http://blog.mastercoin.org/2014/08/26/integration-with-mastercore-volume-2/

"INTEGRATION WITH MASTERCORE VOLUME 2

Shannon Code here: During my AmA I was asked about monitoring an address so they could log incoming deposits into a database. I researched a bit, asked the core developers here on the development team and came up with a pretty elegant solution.

Continuing with the integration demonstration here: http://mastercoin.io/mastercore-integration-nodejs/ I’ll demonstrate how this can be done.

This example is of course a simplistic version, there is very little error handling and only the simplest “mvp” Minimum Viable Product has been demonstrated. I handled it this way to make things easier to follow along with.

Lets get started:

First off lets clone the example files so you can follow along:

> git clone https://github.com/genecyber/Mastercore-Node-App.git

This should get you a copy of the files needed. I (being a .Net developer) am writing this app in node, but I’m using the visual studio node tools for VS2013, I have included the project files in the event that you would like to also use Visual Studio.

You will need to install the dependencies. npm is used to install the dependencies.

If using Visual Studio
1

 

If using bash
2

Modify your copy of config.js to reflect the information needed to connect to your Mastercore instance.
3

Start the application

> node server.js

or if in Visual Studio click the play button
4

 

You should now be able to access the application via your web-browser.
5

You can also check out my live version here: http://162.242.208.46:3000/

 

Diving In

First things first, bitcoind has the walletnotify flag built right in, I’m illustrating how to harness this capability. I found a great resource via this post

Wallet notify works by telling bitcoind you want to execute some command locally whenever a wallet event happens. Incoming tx, confirmations, outgoing tx, etc.

~/.bitcoin/bitcoin.conf

walletnotify=~/.bitcoin/notify.sh %s

This excerpt is from my bitcoin conf file and simply says run notify.sh and append any parameters. In this case it will be a transaction id.

My Notify.sh simply runs curl on my notify endpoint to persist the transaction
6

So looking back at the node app we can visit the /notify url to monitor transactions: http://162.242.208.46:3000/notify/ You will notice an address we want to monitor. Sending any transactions to this address should now create records in our database.

Testing it out

Nothing in the database:
7

 

Make a deposit
8

Now we have a transaction id stored in our database!
9

 

How’d That happen?

I’ll dive into the node just a bit now to show how that works behind the scenes.

Here we now include the sqlite3 library
10

 

Here are our routes for handling the /notify view and the /notify/:txid/ endpoint
11

I hope this helps answer how to monitor an address using Mastercore.

Shannon Code
Mastercoin Developer Evangelist & Head of Security"

[CryptoToxicAvenger]

shannon sounds very smart
dont know why a male would change his name getting married but thats mutepoint
i like his pic on resume
hail mastercoin i guess i should say right ?

[ProzCoin]

shannon sounds very smart
dont know why a male would change his name getting married but thats mutepoint
i like his pic on resume
hail mastercoin i guess i should say right ?

Shannon is extremely intelligent.  He did an AMA which discusses the name change as well as what he does for Mastercoin's team and what their project entails.  

http://blog.mastercoin.org/2014/08/08/shannon-developer-evangelist-ask-me-anything/

Chris

[CryptoToxicAvenger]

well see we can talk
i do come in peace but i will defend truth
i will wait for exchange
see

[ProzCoin]

well see we can talk
i do come in peace but i will defend truth
i will wait for exchange
see

Well, as we wait for C-Cex to finish integration, here is a list of articles that I have written about cryptocurrency if you have time to read them. 

https://iub.academia.edu/ChrisBates

Chris

[XNext]

well see we can talk
i do come in peace but i will defend truth
i will wait for exchange
see

Well, as we wait for C-Cex to finish integration, here is a list of articles that I have written about cryptocurrency if you have time to read them. 

https://iub.academia.edu/ChrisBates

Chris

Great.
Come on...

[CryptoToxicAvenger]

when is a wallet going to be released
?

[ScryptHasher]

You've written so much about crypto's.. yet you try to start your own with a 100% premine and expect it to succeed?

Did you learn nothing?

[genecyber]

when is a wallet going to be released
?

Working on our own wallet next week actually. Stay Tuned. QT Wallet Mastercore doesn't have an ETA yet but I wouldn't expect it to take more than a few more weeks.

[Joerii]

Any ETA on Prozcoin hitting an exchange ? I'd love to buy me a couple of BTC's worth

[CryptoToxicAvenger]

when is a wallet going to be released
?

Working on our own wallet next week actually. Stay Tuned. QT Wallet Mastercore doesn't have an ETA yet but I wouldn't expect it to take more than a few more weeks.

well hello what team member are you?
another newbieproz

[ProzCoin]

You've written so much about crypto's.. yet you try to start your own with a 100% premine and expect it to succeed?

Did you learn nothing?

Okay, to address your concerns, I have learned a ton in fact concerning what is known as "pre-mines".  Mastercoin protocol is a 2.0 coin, so it lives on top of the Bitcoin blockchain if you are not familiar.  Since our "coin" is not really the crux of our focus, and rather the entire Coin Proz infrastructure is what is important, the initial "mining" of the coin is irrelevant.  We see that PoW coins were going out of use anyways, so the smartest thing we felt for longevity was to exist on top of the Bitcoin blockchain.  That said, we WILL be releasing a block of 10 Milion Proz to PoA/PoW rewards, which through our pool Coin Proz users will be able to PoW mine the coin of their choice, and get a ProzCoin payout for participation.  In addition, the mining reward of ProzCoin will not be weighted by hashing power, as to not allow giant mining operations to come in, hog the coins, and then dump the market.

Any other questions or concerns, feel free to throw them out!

Any ETA on Prozcoin hitting an exchange ? I'd love to buy me a couple of BTC's worth

Last I heard as of 1 PM it was actively being worked on, so it's not just stalled out or anything.  Massive amounts of data to process.




Chris

[CryptoToxicAvenger]

sure they need to process all the 20% of coin available
i see mastercoin page with polinex on it as  exchange useing it
but you know what
thats the trick of common sense vs academia  ,common sense is learned thru experience and having a grand plan is one thing ,
but if you see same stuff over and over and over
isnt it like north freaking korea our money cost this much , we hold all of it , you gotta jump thru hoops and einstein thery of relativity to get any poa coin
now we dont care about initial offer of coins
why release a coin if everything isnt made
dont you people use focus groups and test poles to see what market will bear
plus the fack that times are changing in crypto  faster than spock growing on planet genesis
ok you look like bob marley in those restaurants thats a good thing
bob marly didnt drink he smoked the herb
marketing is pretty hurt polinex was right
you guys need to wake up some and listen to the world
crypto is damaged
and because of all these new wanna be coins like this
you guys probably work jobs and do this in your spare time
im here 24 hours and see it all
the truth will shine regardless what dictator says
didnt u study history and dictatorship
holding all the coin and decreeing whatever will never float
you can call me whatever you like and report cause you dont like
the truth will never be quiet , the community will speak
if you guys dont open your ears you will just stay in your world

[XNext]

You've written so much about crypto's.. yet you try to start your own with a 100% premine and expect it to succeed?

Did you learn nothing?

Guy,this is not pre-mined.
ProzCoin is not a POW coin.
Did you know XCP/MSC/NXT?
They all just used a different distribution method instead of POW.

[ProzCoin]

You've written so much about crypto's.. yet you try to start your own with a 100% premine and expect it to succeed?

Did you learn nothing?

Guy,this is not pre-mined.
ProzCoin is not a POW coin.
Did you know XCP/MSC/NXT?
They all just used a different distribution method instead of POW.

You are correct sir!  We are working very closely with the Mastercoin team and one of the Prozcoin developers also works as a developer evangelist/head of security for Mastercoin. 


Chris

[CryptoToxicAvenger]

Algorithm: Mastercoin protocol for base, PoA/PoW Hybrid mining for future
Max Coins: 100 million

Distribution Model:  All 100 million coins will be mined in 1 block<-----bro thats the premine  you hold the bag of em already



polinex said this to thrash yous bag holders
I am sorry, but because Poloniex feels that the vast majority of the coins is ultimately headed to the development team, as well as 54 BTC, and only 20% held by its investors, the potential for a fallout as well as potential FUD for our exchange is simply too high to list Prozcoin.  We wish you the best of luck with the project.

ofcourse this aparently dont matter in your world though 

[CryptoToxicAvenger]

Algorithm: Mastercoin protocol for base, PoA/PoW Hybrid mining for future
Max Coins: 100 million

Distribution Model:  All 100 million coins will be mined in 1 block<-----bro thats the premine  you hold the bag of em already



polinex said this to thrash yous bag holders
I am sorry, but because Poloniex feels that the vast majority of the coins is ultimately headed to the development team, as well as 54 BTC, and only 20% held by its investors, the potential for a fallout as well as potential FUD for our exchange is simply too high to list Prozcoin.  We wish you the best of luck with the project.

ofcourse this aparently dont matter in your world though 

u\plus this is what your doing with all that has been bought on your sale so far <Prozcoin> as in of the 8 bitcoin worth that we have sold so far, it is all going towards development
thats your words Larry
your boss needs to limit your singing like a canary= incredible forget about initial offering NOT no way