Check out this interview on the Prozcoin Team:
http://www.cryptotycoons.com/2014/08/prozcoin-a-coin-for-the-masses/?utm_content=buffer2781f&utm_medium=social&utm_source=twitter.com&utm_campaign=bufferPROZCOIN: A COIN FOR THE MASSES
August 19, 2014
INTRODUCING PROZCOIN
Does a strong social network presence, a relatively large ecosystem at launch, and an open Dev team spell success? We here at CryptoTycoons thank so!
ProzCoin is an all new altcoin based on the MasterCoin algorithm with some PoS thrown in. Once complete, it’ll use an innovative new mining protocol called Proof of Action (POA) that pays out based on hours spent mining other coins at ProzCoin rather than using the more traditional hashrate payment schemes! On top of the innovation, the developers have added legitimacy to this brand new coin by revealing their real identities by posting and confirming their linked in accounts! Each developer brings a skill or service to the coin, making this one of the most well rounded coin launches we’ve seen in weeks!
So read on to check out our exclusive developer Interview!
Earlier today we had the opportunity to speak with the developers of ProzCoin! We hope that this article helps clarify any questions you may have. We here at CryptoTycoons were intrigued with the PoA system that ProzCoin brings to the table, as well as how open the developers are being. Publicizing their identied adds a sense of .
kudos to going public with your identities! It adds a lot of value to your coin! Do you have any concerns with going public with your identity? Are there any risks involved In your opinion why don’t more coin developers do it?
We wanted to embrace transparency as part of our main tenet of the Coin Proz organization, so releasing our identities was never an issue. No more risk involved than having a public record as far as I am concerned. I believe a lot of developers are afraid of the public backlash at the prospect of failure, and would rather not have any failures associated with their name. I understand on one hand, but feel it’s a hindrance to actual development if you can’t trust the developer to be who they claim to be.
What inspired you to create ProzCoin?
The Coin Proz team is focused on making cryptocurrency accessible to the masses. Our network is built around focusing multiple crypto communities in the same direction, and ProzCoin is the main currency that will be used within the economic infrastructure. We have established a network of merchants, websites, and services that accept our coin from day one, and plan to create payment software and hardware to bring cryptocurrency to businesses and citizens, and in the process our community will give them access to all the different communities in crypto through our portal.
Are you, or your team affiliated with any of the merchants that agreed to pick up your coin immediately?
All of the initial merchants are official affiliates of the Coin Proz network. Myself(Chris Bates) and Tim Frost are co-founders of Cryptoshoppers, and I also have been handling some PR and Social media for Left Turn Only Tv. Erko Elblaus who is the lead UI/graphic designer for Coin Proz is the owner of Elblaus Designs.
Some people are worried about how many coins the developers will have on hand at any given time. How will you put to side these concerns?
We have already planned on putting any unallocated coins into a publicly visible escrow account, and plan on having complete transparency for every coin
How does the POA system work to increase the value of ProzCoin?
The idea of PoA is that By creating a reward system that takes a set of given “actions”(PoA), whether posting on a forum, writing an article about your favorite coin, or even mining, and quantifies the action relative to some metric of user feedback to “prove” that the action had merit and quality. So users won’t simply get rewarded for posting on the forum, but only if you make posts that get upvoted will you get a reward. By having this reward system that encourages the involvement of EVERY coin community, the limited number of coins should theoretically increase in value as the ProzCoin infrastructure grows larger, and the limited supply is further distributed.
Which coins will have a ProzCoin POA pool at launch time?
The PoA/PoW mining pool is still in development for CoinProz.com. Upon completion the system will allow any coin that has the capacity to have PoW mining give a dual PoA/PoW score in our pool. The merged mining pool is one of the projects that we hope to complete within the next few months with the capital from the ICO.
Do you, or any of your team have experience with developing for any other coins? Care to share which ones?
Shannon Code is a developer evangelist for the Mastercoin Team. I did PR for Marinecoin, and commissioned Left Turn Only Tv for one of their Promo videos:
https://www.youtube.com/watch?v=tbItDaNNAZUWhat can the community do to help this coin succeed?
There is a limited supply being sold through Cryptoshoppers, and then the rest of the coins allocated for raising capital will be sold on exchanges. When PoA is implemented in the first round, the community will then be able to help by participating in any way they feel and get rewarded in ProzCoin!
Is there anything else you would like to say?
The Coin Proz team wants to be at the forefront of innovation and community involvement. Our long term goal is to establish a positive environment for the entire crypto community. No coin is excluded. We also want to develop software and hardware that will make cryptos more safe, accessible, and bring greater worldwide adoption.
