Project X Union Currency is meant to bring as many crypto users as possible under one banner. It stands as a refinement to the Antimatter initiative i started long back here:-
https://bitcointalk.org/index.php?topic=223454.0 as a clone of the thought experiment Abstract Coin. Some of the ideas are discussed here :-
https://bitcointalk.org/index.php?topic=247585.0 On it's functions. The inital implementation was nevercarried out as i lacked the necessary skills to execute the project.
The idea was to bring the holders of coins into a single coin, that has been refined to the following
1) Coin must be traded
2) Coin must have a huge following
3) Coin dev/community must agree
How will it be done?
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The proposed implementation is to parse the blockchains of selected participating coins and create a snapshot of the balances. Then relative to their price at date of snapshot each blockchains allocation will be calculated and entered into the genesis block of XUC. So one maintains the value of their coins relative to other participating currencies, but gains the benefit of having huge user base and wide spread initial dispersal.
When will XUC be launched?
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Tentative Expected Launch date is 15/10/14, this allows for time to select participating coins, get accurate snapshots and acquire realistic price snapshots.
Why XUC?
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XUC is chance to bring together as many current crypto users into one unified coin with immense benefits from user and developer interest.
Overall, as some coins have had stalled development due to technical constraints or developers abandoning them , it offers holders of those coins a chance to move under a new banner while maintaining their relative stake in the crypto sphere.
XUC also offers a rough method of combining ones entire crypto holding into one single wallet allowing greter simple personal control of your finances in a single application.
XUC uses a crowdfunding platform adapted from MMC 2.0 to ensure that developers are always on call and any under performing ones get fired. This means that instead of developers abandoning projects, they will be lining up and competing for the job. This will encourage innovation and dedication to the currency.
How to get your Coins
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There will be
no IPO or ICO, the community has already done all of that in advance by participating in any of the
selected currencies.
When the Wallet is made public simply go into your wallet of any and all of the selected currencies and
HELP--> DEBUG WINDOW --> CONSOLE
type dumpprivkey "insertyouraddresshere" and copy the result.
Then in the
XUC wallet
HELP--> DEBUG WINDOW --> CONSOLE
type importprivkey "yourprivatekeyhere",
Your balance should show up immediately.
How to Help
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I need help identifying any and all possible coins that can be added to XUC to ensure that as many people as possible can have a stake. If the coin is dying then i may need a copy of the blockchain data.
Why Help and why participate?
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A lot of coins depend of the cost of mining to prop them up or have a lot of money thrown at them, this coins value will be based off community acceptance and how each individual values their share.
Does this affect my holdings in the participating coins?
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No, your coins remain yours in all the currencies, you just have a stake in a "commons" currency that you can do with as you wish.
XUC Specifications
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**Coin Generation**:50% of total Money supply is allocated in the genesis block
1% is allocated to me personally.
(Premine)49% is allocated via PoW
**Proof of Work Algorithm**:
CPU Only Memory hard Algorithm
**Total Number of Coins**: 21 million
**PoW Block Reward**:
20 coins per block (standard reward)
with random multipliers.
Block XXXXX:- reward is 999 tokens (this will be expected Launchdate)
**PoW Target Blocktime**: 3 minutes
**Time to Maturity**: 150 Confirmations
If you wish to have a coin added, just say so, everyone is invited.
