[ANN][CRON] CRONCOIN - JavaScript SMART CONTRACTS, DECENTRALIZED MARKETPLACE

[CronCoin]

Hi, I’m very proud to announce my new crypto-currency CronCoin:




What is CronCoin?
CronCoin is the first crypto-currency that implements an easy-to-use and extensible decentralized Smart Contracting environment which is completely integrated in the blockchain.

Users are able to create their own sophisticated contracts via CronCoin’s scripting system using JavaScript enabling everyone to create his first contract or decentralized service in minutes.

CronMarket, CronCoin’s decentralized marketplace utilizes CronCoin’s Smart Contracting feature, enabling trustless powerfulness to its users by using standardized contracts without requiring them to review each contract script and care about the complicated parts of the Smart Contracting system.

Due to CronCoin’s extensible environment, definition and implementation of new Smart Contracts and CronMarket features can take place without changing its underlying technology.

What are smart contracts?
Smart contracts are entries in the blockchain containing variables lists accessible by scripts stored in the contract. Within the script you can use normal JavaScript syntax (if, for, while, …) and have access to built-in sophisticated methods, for example creation of new payment transactions referring to this contract.
Like CronCoin addresses, contracts act as tx-in sources and tx-out destinations of transactions in the CronCoin network. Therefore CronCoin Smart Contracts are fully integrated in the blockchain and accessible through transactions.

CronMarket – a decentralized marketplace built on top of CronCoin Smart Contracts
CronMarket is a decentralized peer-to-peer marketplace where users can sell goods in exchange for CronCoins and vice versa.

Basically CronMarket is the first high-end application that utilizes the CronCoin Smart Contracting system. CronMarket uses standardized contract patterns implemented in the client's software to assure trust between its participants.

Users can easily and trustless buy and sell goods without having to concern about all the technical stuff of smart contracts like tx-out destinations.

CronMarket provides an easy to use UI that handles all the sophisticated parts of the CronCoin Smart Contracting system, so users can solely concentrate on their businesses.

Easy enhancement
As CronCoin’s Smart Contracting core structure is simple, but powerful, various kinds of anon-contracts and anon-systems can be built on top of it without changing its underlying protocol.

New standardized contract patterns used in the CronMarket marketplace can easily be created and implemented in new wallet releases to assure trust between all participants of CronMarket.

Example script
To show you how Smart Contracts scripts work in general, here is a basic script that implements a default contracting workflow:

Please keep in mind that this script was just created for preview purposes allowing potential investors, miners and contributors to get in touch with CronCoin’s Smart Contracting scripts. At time of release, there will be a scripting guide available containing documentation of all functions and example scripts.



Technical details:
Algorithm: scrypt
Block generation time: 2.5 minutes
Total coins: 2,000,000 CRON

Distribution:
•   10 % (200,000 CRON) is used for CronCoin development and bounties. The coins are sent to a public development address
•   40 % (800,000 CRON): IPO, see details below
•   40 % (800,000 CRON): PoW up to block 8000 (approx. 14 days)
    Block reward:

from block	to block	Reward
1	2000	130 CRON
2001	4000	110 CRON
4001	8000	80 CRON

    no block reward for blocks 8001+
•   10 % PoS (200,000 CRON, starting at block 4001 (after 7 days))

IPO Details:
800,000 CRON will be distributed to investors as follows:
2,500 CRON can be purchased for 0.25 BTC (= 0.125 % of all coins).
Please only purchase "even" amounts of CRON dividable by 2,500 (2,500 – 5,000 – 7,500 – 10,000 –  …).

Investors List (updated at least daily): coming soon...

The IPO ends as soon as 800,000 CRON are distributed.

The BTC address for CRON purchases is:
1Mq4m4wGJBmyJtT95SoHBY2wgLBx9bb9Ld



Please send me a PM containing your tx-id after your purchase. Anonymous investments are also possible. In this case your BCT username won’t appear in the investor’s list.

You should keep access of your BTC wallet.dat file (or your address’ private key). If multiple users are claiming to have sent a certain transaction to the address stated above you will need to sign a message using the private key of the address the transaction came from.

Purchased IPO coins will be sent to investor’s CronCoin addresses after the launch (I will send you a PM with instructions).

The BTC collected during IPO will also be used for CronCoin development. (because a lot of devs only accept BTC)

Current development progress
I'm working hard to make CronCoin the first real widely-adopted crypto currency implementing smart contracts and a decentralized marketplace.

CronCoin’s features (Smart Contracts and CronMarket P2P marketplace) will be ready at launch. Due to CronCoin’s interoperable core system new standardized contract patterns requested by users can be easily added at any time later as described in the enhancement section of the whitepaper.

[SecondsOld]

With a newbie account, you're going to have to accept escrow for the IPO to have a chance.

[ugethit1]

In addition, DarkChain will launch a decentralized market using anonymous P2P payments in DC with no central jurisdiction involved. Merchants can buy sell goods at their leisure without outside influence. This will also serve as a testing grounds for the smart contract technology we're releasing.
 
That was launched today. Without asking for IPO and without taking a premine.  Why do you think people should invest into your IPO and your huge premine when there is a coin working on this idea today asking them for nothing?  I think you just want BTC for free.

Offer innovation first ask for money second.  Not the other way around.

[J9901]

LOL just LOOOOOL

[Depredation]

Why so many IPO lately?

[origin12]

Will there be a beta available before the end of the IPO?

[CronCoin]

In addition, DarkChain will launch a decentralized market using anonymous P2P payments in DC with no central jurisdiction involved. Merchants can buy sell goods at their leisure without outside influence. This will also serve as a testing grounds for the smart contract technology we're releasing.
 
That was launched today. Without asking for IPO and without taking a premine.  Why do you think people should invest into your IPO and your huge premine when there is a coin working on this idea today asking them for nothing?  I think you just want BTC for free.

Offer innovation first ask for money second.  Not the other way around.

Well, first of all there is no premine at all.
As stated in the OP, 10 % of the coins are used solely for development traceable through a Cron address.

The IPO is needed to cover some expenses (mainly time and new developers, of course no one wants to work for free). Also, I want to give believers in smart contracting and in CronCoin a chance to get coins early without mining.

I have a clear idea how to make CronCoin the best smart contracting coin. But in the end it's always a decision of investors if they believe in your coin or not.

The main difference between CronCoin and any other coin claiming it will implement smart-contracting and marketplace features is extensibility:
If others want to change things or implement new features, they need to change the protocol. That's why I chose JavaScript as scripting language for contracts. You are not bound to restrictions inside a contract and can use all pre-defined methods provided by the contract's framework - and that's all you need to build anon-contracts nobody can think about today. That's why CronCoin's core contracting system is simple, but powerful, preparing a framework where you can build nearly anything you want on top of CronCoin.

The same goes for the decentralized marketplace: No change of the protocol and no change of the contracting system are required to enhance contract patterns, only a new wallet needs to be released that implements the new script to assure trust.

As for the DarkChain launch: They didn't release any whitepaper yet, so I can't discuss if they try to implement similar features or not.

Regards,

CronCoin

[CronCoin]

Will there be a beta available before the end of the IPO?

Hi origin12,

there will be a beta test for sure. Currently there is no specific time for this, but it will be around 1 October, 2014.

I will update the OP with more details when it's time to invite users to the beta test.

Regards,

CronCoin

[ugethit1]

Well, first of all there is no premine at all.
As stated in the OP, 10 % of the coins are used solely for development traceable through a Cron address.
  

You are taking coins prior to PoW for development correct?  That's a premine.  If that 10% premine is for bounties and development what is the other BTC for your going to get from an IPO?  Where do you guys come up with this horseshit?  And why make a post 48 days before your launch?  So you can sell some bullshit IPO?  Then run off?

If your so stupid you don't know what a premine is there is no reason to trust you with BTC.

[CronCoin]

Well, first of all there is no premine at all.
As stated in the OP, 10 % of the coins are used solely for development traceable through a Cron address.
  

You are taking coins prior to PoW for development correct?  That's a premine.  If that 10% premine is for bounties and development what is the other BTC for your going to get from an IPO?  Where do you guys come up with this horseshit?  And why make a post 48 days before your launch?  So you can sell some bullshit IPO?  Then run off?

If your so stupid you don't know what a premine is there is no reason to trust you with BTC.

With "there is no premine" I meant that there is no hidden premine noone knows about or hidden blocks like in some other coins. The total distribution of the coins is traceable from the beginning.

How will the "premined" coins be used:
10 % only for bounties and development (sent to an development address in the genesis block)

The 800,000 CRON to be purchased in the POI are an investment. Of course, nearly all of the BTC sent to the investment address are used for CronCoin development, because most devs only accept BTC. I will update the OP to make that clear.

I really want to make CronCoin big and widely-adopted. That's also the reason why I posted the announcement 48 days before the release: To make sure investors who believe in this coin have enough time to buy it, because there are a lot of them who don't want or can't mine them.

I will also do PoD soon to proof I'm serious. (Even if I don't think PoD is that important).

Regards,

CronCoin

[ugethit1]

 You need a 10% premine for development and a 40% IPO for development.  Sounds like you need a lot of help.

[CronCoin]

You need a 10% premine for development and a 40% IPO for development.  Sounds like you need a lot of help.

Development does not only mean writing code. It's also about spreading information about this new coin to the world. That's why I think that this usage of the coins is reasonable to reach a lot of people and make them become active in the community.

[Litoshi]

10,000 satoshi per coin!!!!! 

You have to be kidding.

Try 100 satoshi per coin and maybe you can get some Chinese buyers to invest.  They will pump it up to 200 satoshi and dump it on the first exchange dumb enough to accept this kaka. 

[ugethit1]

Your premine is 55.5% of the PoW coin,  200000 + 800000 = 1000000. 1000000 divided by the 1800000 PoW coin = 55.5% premine.

My question is this.  Why should anyone invest in your coin? Most coins only need like 1 or 2% for development.  You must be a fucking shitty dev if you need a 55.5% premine for development.

[CronCoin]

You are also taking 55.5% of the PoW coin for your premine,  200000 + 800000 = 1000000. 1000000 divided   by the 1800000 PoW coin = 55.5% premine.

My question is this.  Most coins only need like 1 or 2% for development.  You must be a fucking shitty dev if you need such a large premine.  Why should anyone invest in your coin?

Only some of the 800,000 CRON valued BTC in the IPO (= 80 BTC) and 200,000 CRON are used for development, bounties, spreading info about this coin, websites, articles...

So the 800,000 CRON of the IPO don't belong to this calculation directly. Btw what elso should be done with the BTCs collected during the IPO? I won't spend them all for me.

In the end, we can still discuss the distribution of CRON and premine for days. But the only thing that really counts is the product, is CronCoin. Just look at NXT and their distribution. With an IPO valuing 40 % of total coins we can even reach a fair distribution for people not involved in mining as well as for miners.

[butany]

No escrow! Scam!

[xibeijan]

Sounds interesting and innovative, though I have heard of similar work.

[ugethit1]

How about you show us something new and innovated first then run your IPO?  Instead of offering vaporware and fake promises.  Show us the beta version then ask for money.  Your words are hallow, it looks like your trying to get people to give you BTC for free.

[SnjafSnjaf]

USE coin dev again in action of stealing?

[-Greed-]

How about escrow? No one will invest without it these days.