Sparkle is the first "2.0" variation based upon Proof of Work. Ripple, Nxt, BitShares, and potentially Ethereum are all Proof of Stake systems. Sparkle will add some shine to proof of work chains.
Sparkle replaces the Delegated Proof of Stake of BitShares with good old fashioned proof of work. The "delegates" retain the role of producing price feeds for BitAssets (market pegged, 3x collateralized, block chain enforced assets pegged to Gold, Silver, the Dollar and Bitcoin).
Currency Unit: SPK (Spark)
Mining Algorithm: SHA512 (initial, may change subject to delegate vote.)
Initial Supply: 100M SPK (Divided among AGS, PTS, and BTS holders)
Mining Reward: 50 SPK / block, linearlly decreasing to 0 over 100 years.
Workers Reward: 50 SPK / block, linearlly decreasing to 0 over 100 years.
Block Interval: 20 seconds
Maximum Spark Supply: 7,984,000,000 SPK after 100 years.
Precision: 5 decimal places
http://thetruesparkles.wix.com/sparklehttps://github.com/sparkle5/SparkleSubForum Available on BitSharesTalk
https://bitsharestalk.org/index.php?board=80.0Sparkle is under testing right now and has a working implementation. Mining will begin as soon as we can merge the next stable release of BitShares into the code base.
Sparkle inherits all of the great innovations in BitShares including:
TITAN - transfer invisibly to any name.
Self Funding - Elected workers can grow and promote Sparkle without having to do a crowd sale.
BitAssets - Market pegged assets.
Escrow - simple, easy to use escrow payments
User Assets - Users can issue their own currencies
Sparkle will adapt and evolve to follow the feature set of BitShares including:
Auctions
KeyGraph
Scripting (turing complete)
Gateways
If you couldn't get on board with BitShares because of Proof of Stake, now is your chance to get what you always wanted.
I will do the snapshot on December 14th, the anniversary of the American Revolution:
The first military encounter of the American Revolution occurred, when on the report of news carried by Paul Revere that the British intended to station a garrison at Portsmouth, New Hampshire; Major John Sullivan led a band of militia to Fort William and Mary, broke into its arsenal, and carried off arms and ammunition, 1774
This applies for BTS and PTS. BitAssets will not be honored, shorts will gain 2x and this is intentional because I want to reward those most heavily invested in BTS.
This will be the LAST block produced on December 14th UTC. I will not ask any exchanges to honor the snapshot and will ask everyone who wants to participate in it to remove it from the exchanges. In fact I will go so far as to declare that the exchanges OWN the snapshot of funds deposited in them as an incentive for them to list Sparkle and to reward them for supporting the BitShares ecosystem.
Lets make life easy on the exchanges and NOT ask them to honor this snapshot, but DO ask them to list it after we launch.
