Article out about the team:
http://thecoinfront.com/chris-bates-talks-coinproz-prozcoin-proof-of-action-and-more/CHRIS BATES TALKS COINPROZ, PROZCOIN, PROOF OF ACTION, AND MORE
People in the cryptocurrency world often wear several hats, and Chris Bates is one of them. In between all his other duties (including the occasional article for The CoinFront!), Chris is co-founder of CoinProz, a new online endeavor that will provide an entirely virtual alt currency exchange using second generation software, among other things.
Chris sat down with The CoinFront to discuss his project and what he’s been up to.
Tell me a little more about yourself Chris
I am a technophile. I have a M.S. in Telecommunications from Indiana University, as well as a B.A. in Psychology from there. I enjoy finding the common ground between technology, sociology, psychology, economics, physics and ethics. I want to see efficiency and progress at the foundation of everything.
How did you come to be the Chief Communications Officer at CoinProz , and what are you doing there exactly?
I am a co-founder of CoinProz, so we decided that I would best fit as the Chief Communications Officer, since that would allow me to do marketing, but also assist in some research for R & D in the process. I help with developing the scope of the projects, help in laying out the plan, and then assist in process management where necessary.
I read that the software used by CoinProz is second generation. So, I wondered, what is second generation software in this arena, and how is it better than what went before it?
Protocol is a 2.0 coin, which means it is built on top of the Bitcoin blockchain. While there are many alternative coins that have their own blockchains, 2.0 coins use the premise that people who are already contributing their computing power to Bitcoin security could also be used to secure coins built on top of Bitcoin. Essentially, this saves energy, and creates a more unified front from cryptocurrency, while it also allows for variation within the individual coins themselves. An economic ecosystem with the capacity for mutation.
I’ve looked at the CoinProz website and it is under construction, so I was not able to find out much about what you and your colleagues will be offering to the public. What can you tell me about what the website will offer when it goes live?
Using our Proof of Action algorithm , The CoinProz website will track user actions and pay out rewards in Prozcoin based on “community rated” quality participation. The idea is that Proof of Action will promote positive interactions, and dissuade spammers and trolls. We ran a test trial with tremendous success in spreading information, and also showing where the spammers were located. We had to readjust our model to figure out how to avoid spammers without punishing people who happened to be near the spammers, so that has been the issue behind delaying the launch. We want to make sure everything is fair to people who aren’t trying to game the system, and the reward incentive structure stays intact.
And when will that be?
I have been testing the site on IOS and Android within the past 24 hours, so the release should be any time now. A few minor bugs just need to be ironed out.
What would you like people to know about CoinProz and what it will offer?
CoinProz wants to create an environment which highlights the most promising projects in cryptocurrency. We also want to promote positive participation to help educate more people about cryptocurrency. We feel that one of the major issues needed to be addressed is bringing education to the physical world, and out of the digital space. We are working on making crypto more accessible and understandable.
I noticed that CoinProz has been positioning itself as the go to location for social media interaction related to all things alt coin. How have you and your colleagues decided to create an online virtual currency exchange?
We are not an actual “currency” exchange, but in that regard, our platform is meant to reward participation for ANY coin, because that way it consolidates the information into a place where we aren’t deciding for the user what to look at. Bringing the most promising projects to the front page insures that those who put in hard work and effort get highlighted, but rewarding new users for participation with any coin keeps a reward incentive so that the learning process is actually worth something immediately.
And where can people contact you if they want more information about what you are working on?
Email me at
Chrisbates01@gmail.com, or come chat on the CoinProz Facebook page.
