OpenBazaar, an open-source market that allows buyers and sellers of goods to directly create shops and sell goods without fees, restrictions or accounts, is looking to layer multiple cryptocurrencies into its wallet in the interest of offering lower transaction fees. The online market already allows users to pay for purchases in multiple cryptocurrencies via an integration with the ShapeShift.io exchange.
With rising bitcoin fees, Mike Wolf, design lead at OpenBazaar, has proposed supporting multiple cryptocurrencies, noting there are details to be worked out.
"Bitcoin fees are getting high," Wolf tweeted. "Should @OpenBazaar support multiple cryptocurrencies?" The tweet directed readers to a Youtube video in which he presented an idea for how multiple currencies could layer into the OpenBazaar wallet.
"We have not thought about all of the functional aspects of it yet," Wolf said in the video. The team is looking for feedback as to whether the concept has value. "Let us know what coins you think are most useful," he said. "We'll definitely read through them."
Wolf also posted a survey on Twitter asking people to vote on whether OpenBazaar should support multiple currencies. With 443 votes cast and six days left, 87% wanted to see OpenBazaar accept multiple currencies.
"Relying 100% on bitcoin might not be realistic in the near future," Wolf said. "From the Open Bazaar perspective, we really want to keep fees as low as possible."
BOScoin is a new virtual currency created by the South Korean Fintech startup BlockChain OS. According to regional publication Pulse News, like existing virtual currencies, the new digital currency is also based on a blockchain. However, according to the Seoul-based company, the difference consists in the blockchain's ability to allow higher transaction speeds. BOScoin transaction speeds will reach up to 1000 transactions per second, in line with credit card processing speeds.
BlockchainOS has presented the concept of the BOScoin platform at meetups in London and Berlin/ The Foundation has been answering questions from the wider community on a wide range of interest areas including design, architecture, technical, operations applications, and governance.
BOScoin is designed as a platform for a self-evolving crypto currency, an improved version of other popular virtual currencies such as Ethereum and Bitcoin. BOScoin was developed to work with Trust Contracts that provide an approachable and decidable and framework for creating and executing blockchain contracts.
The decision making body for the new BOScoin digital currency is the Congress Network. Congress members have the right to decide on what proposals are eligible for Commons Budgets. They also have the right to decide the functions of the blockchain itself and the revision of the policies. The Congress Network aims to create a more productive and democratic decision making process. With its particular policy rules, BOScoin is expected to avoid the hard-forking and community separation of blockchain.
The official ICO invites the general public to participate in this international crypto currency platform. The pre-ICO funding has already raised US$3 million. According to a report from Korean publication DataNet, all code and tools used by the South Korean developers of BOScoin will be released as open-source. A next-generation smart contract solution powers BOScoin. The system is bases on an "inference engine".
The creators of BOScoin hope to overcome the operational and technical issues present in many other crypto currencies. While deterring the centralization of power, the issuance plan and the incentive scheme of the BOScoin cryptocurrency platform aims to create value for the coin. While being more energy efficient, low latency BOScoin transactions will be created with the help of the Modified Federated Byzantine Agreement algorithm.
A user or a machine is helped to decipher the contract by this core code and software engine. This approach is opposed to existing smart contracts that are currently written in program-level code. For most users, these existing smart contracts may prove difficult to understand. The South Korean developers of the BOScoin appear to aim, essentially, for a more-straightforward blockchain.
The BlockchainOS Foundation that issue and manage the token currency BOScoin is established in Switzerland. BlockchainOS has engaged EY's Asia-Pacific data and analytics capability called EYC3 in its efforts to support development of the BOScoin cryptocurrency. EY has a global experience in cryptocurrency and blockchain, reaching a footprint across 150 countries. The strategy behind the new BOScoin digital currency platform is taking advantage of the critical leading data and analytics capabilities of EYC3.
By utilizing their governance expertise, as well as their wide range of experience in working with private global companies, EY will be able to apply their known how to supporting the BOScoin platform's self-evolving governance system. The platform provides the foundations for a secure system where even non-technical users can create sharable and immutable blockchain contracts.
Large companies dominating the industry may think we're crazy; we think what we're doing is just right.
Let's start by getting the obvious out of the way; building a self-governed P2P marketplace is a complete paradigm shift. Today, shopping online requires three or more entities to be involved just to complete a sale. That's crazy! The market leaders have been perfecting customer retention, personalized recommendations and last minute deals for over two decades now. Online shopping has become so refined that buyers and sellers hardly even talk unless a problem arises, but at what cost?
Predicting what customers would like to buy isn't just a lucky guess; it's largely based on their personal shopping and browsing history. Customer metadata is collected, harvested and applied to algorithms built to maximize the bottom line. It may seem pretty cool and handy from the outside but the truth is that it is a trust-based system in which the customer usually has no choice but to accept in order to shop online. This trust extends all the way to each company's infrastructure (servers) and their ability to protect your personal data from bad actors. One could argue, "Doesn't this turn Me into the product?"
So why reinvent an entire industry that has perfected a good, logical and profit-generating business model that appears to have the customers' best interest in mind? Simple! Choice. At this time, every eCommerce platform is essentially the same. There is at least 1 payment processor who needs to be involved, collect data and charge a fee. Depending on the platform, there is at least 1 more company involved with listing the item, collecting data and charging a fee. Anytime you are not in control of your personal data and/or money, you run a huge risk of that information being manipulated, misused or hacked by a third-party. The latter can lead to embarrassing or precarious situations, for example the huge Ashley Madison leak.
Particl has a place in this industry and the time for us is now!
What is Particl?
This is a hard question to answer at first take.
"Hey, look everyone, here's a startup now taking on many Goliaths." Amazon and eBay have 20+ years head start on the team and multiple-times over many more resources. This is a battle every startup faces and history has shown that the public responds well when what you're doing is the right way to do it.
The best companies in the eCommerce sector have gotten to the top through stellar market analytics. However, these are only valuable to centralized companies. Strong market analytics are necessary to continually grow revenue and profits. Particl is a decentralized platform that barely collects fees to list or transact. We'll never be a bloated company with outrageous executive payrolls or lucrative stock options. The team is lean and focused on research and development in an open source environment. All fees generated on the platform are automatically redirected to the community of people keeping the network secure by running nodes and staking.
Product Recommendations
Another aspect of market analytics linked to customer retention is personalized recommendations. These added "features" rely 100% on user metadata. On Particl there is absolutely no way to collect user metadata for recommendations since everything is encrypted. Only the buyer and seller know that a transaction has ever taken place. On the public ledger, it reads like any other generic transaction. Anything from both the buyer and seller's data, the purchase history, the terms of a sale, and more are encrypted and private. We take metadata leakage very seriously, which adds a level of complexity to this project that traditional eCommerce platforms don't have to deal with.
Particl's overall competitiveness to mainstream marketplaces will take time and that's okay. Not only are we providing tools that give people a choice in an otherwise black and white 20+ year old industry, but we are also extending a helping hand to those who never did have such a choice.
Particl does offer benefits even the biggest industry leaders can't offer at this time and that is a positive way to start our journey. On top of working in an open source environment the project also offers:
passive income for users operating nodes and helping to secure the network.
This is a valid question and one that would be more applicable if we were building Particl from scratch. The MVP prototype was built on Bitcoin code along with upgrades and innovations from the Shadowcash code. The Bitcoin codebase isn't causing any issue or roadblock to the development of the platform and our upgrade to the latest bitcoin codebase is only going to enhance the performance and security of Particl, as well as add a bunch of new features. I appreciate Ryan X Charles' point of view when discussing jumping ship versus solving problems. While the protocol may be more advanced than Bitcoin, moving to Ethereum would produce additional problems to solveand slow the progress on bringing the Particl platform to market. For example: Ethereum still runs on a PoW consensus algorithm while Particl runs on PoS consensus, which is a value added feature to our network ownership, governance and reward structure.
Reports are emerging that an agent for an Indian law enforcement agency has been arrested for stealing bitcoins tied to a drug bust.
According to the Times of India, an officer for the Indian Narcotics Control Bureau (NCB) is alleged to helped steal more than 400 bitcoins originally confiscated during a 2015 seizure. Specifically, investigator Satyendra Kumar Singh is said to have been accused of unfreezing those funds at the behest of one of those arrested.
The media source claimed that it was the first such case in India – though the cryptocurrency world is no stranger to rogue agents siphoning bitcoins obtained during criminal investigations.
The NCB reportedly alleged that Singh consulted with Deepak Manguikya, one of the accused drug dealers, after he was released on bail in 2016. In July 2016, Singh then helped Manguikya forge documents which would allow for the unfreezing of the accounts where the bitcoins were stored. After being unfrozen, the accounts were emptied and liquidated with Singh allegedly receiving 50% of the proceeds.
Officials noticed the missing coins while working on a report regarding the status of the seized funds. Subsequently, the NCB moved to suspend and arrest Singh, and an investigation into his role in the heist is said to be ongoing.
Count yourself lucky if you are reading it right now. Lunyr is a platform which is gradually promoted with an octane team of experts - for next generation decentralized applications with artificial intelligence, virtual reality and augmented reality.
Lunyr is an open source base of information which is blockchain based.
Lunyr is a future oriented API; an open source platform for application developers is based on capturing authentic information of the reality world by offering LUN- to attract peer reviewing and pure information contribution on this platform by users.
What is LUN?
LUN is also known as Lunyr tokens. This is a very astounding concept for the anonymous. The LUN concept articulates around a business model where Lunyr tokens are granted applicable mandate for ads.
The Lunyr tokens are aimed to be endorsed to the users of this platform as their rewards for their honest review and information contribution to enable Lunyr attracts more traffic.
Lunyr Business Structure
A cleverly designed business program blockchain based. The open source computing system is Ethereum oriented to crowdsource genuine information of reality world to develop its API {app program interface} to create artificial intelligence, argumented reality and virtual reality.
The decentralized crowdsourced information works on next generation decentralized applications. The creation of decentralized applications need reality world information hence Lunyr has designed a model to attract reality global on this information.
The platform target ads business. The set protocols' of the platform is to attract high rise visiting audience like for example the Wiki platform so as to generate revenue from the ads since ads are purchased by using LUN{Lunyr tokens}.
LUN follows ERC20 token standard!
Lunyr Long Term Vision
Augmented Reality: a knowledge bank platform where all your curiosities are answered by just a tap of the knowledge base. The Lunyr platform API is developed with a decentralized distribution of Ethereum based crowdsourced information which generates augmented reality.
Virtual Reality; visceral vs. intimate is an experience generated and articulated by the decentralized applications based on factual information base. The Lunyr API is decentralized to design and paint the picture in your head anytime a user source a given virtual reality. Artificial intelligence; an art of designing a platform where the applications program interface are decentralized in nature with a global reality crowdsource information. Lunyr model is geared in the same league of amazon where reality, accurate and facts are gathered and reviewed so as to feed the users with meaningful information.
Lunyr Team
The Lunyr platform is created and supported by a solid team of common interest. The team is composed by a chain of different expertise ranging from technical administrators, successful advisors and serial investors working down and up to ensure growth and development of Lunyr prosper.
Final remarks
Let us cut to the chase and summarize it up by saying, Lunyr platform is a factual information bank targeting marketing audience. The API is decentralized with decentralized distribution of deeply crowdsourced and reviewed information to attract purchase of ads by using LUN.
However, by rewarding LUN for your reviews and information contribution, is aimed at creating next generation decentralized applications. The long term vision is manifested in achieving virtual reality, augmented reality and artificial intelligence.
Gone are the days when investors searched the web and newspaper for trustworthy clients. Welcome to 21st century where money makes the mare go and there's little time to waste on fraudulent scammers.
Presenting TaaS: A service which issues tokens based on a benefit sharing brilliant contract. TaaS presents an inventive plan of action which allows financial specialists to gain promising revenue, by the rise of digital blockchain markets without worrying about potential dangers related with owning and exchanging of cryptocurrencies. By using the sound technology of Ethereum blockchain and cryptographic audit toward it's financial specialists, TaaS promises to be a service the investors were in dire need of.
Fifty percent of quarterly benefits are gained by token holders. 25% of benefits will be reinvested again into the store to develop the capitol pool. This permits the Net Asset Value (NAV) of a token, to increment after some time, making TaaS the principal blockchain token to expressly fix towards the execution of a parent. Dispensing with section boundaries and permitting financial specialists to securely subscribe to the reserve's wage stream, TaaS presents a "Token-as-a-Service" (TaaS) plan of action.
TaaS formulates an in-house strategy of Cryptographic Audit (CA) -an innovation which offers a direct path for using resources into non-Ethereum tokens.CA is a composition of check and balance tools which let any public individual to effortlessly monitor and approve exchanging history of transactions and portfolio equalizations. Among different arrangements, it incorporates regular blockchain Snapshots, Proof of reserves and resources, and a complete log of API keys. Cryptographic Audit is worked to set high security targets for cash stream in blockchain ventures. TaaS considers it to be a huge turning point in fates of methodical approaches of future ICO's.
The key strength of TaaS lies in the public power of validating TaaS trading history, much similar to a peer to peer blockchain which offers a decentralized public ledger. In this case, service is being provided by a Cryptographic audit is a complex software which monitors trading activity and hashes data onto the block chain. TaaS takes the responsibility of providing authentic reserves and genuine non-exchange accounts. Specific transactions will determine the proof of ownerships. Since data in large quantities is already being transferred in cryptocurrency, this is not a security risk and quite a brilliant strategy by TaaS to provide a complete list of API keys and aggregate account information of dealings. In addition to that, daily snapshots would be taken to honor the permanent smart contract. This is done as a proof to the statement that no-one mismanages the data in between the dealings.
Initial coin offerings to interested parties will take place in March 2017 while beta version of Kepler is to be released in December 2017. Kepler will be surrounding the entire horizon of digital trade i.e. from keeping investments, towards successful management of orders and finally to outputs of probability analysis.
Built by a team of dedicated software experts and visionary entrepreneurs, TaaS invites potential investors to join them and become a part of global financial revolution.
While it may be early to say anything about the upcoming venture, the idea is certainly unique and looks promising. If the kind eye of potential investors falls upon this entrepreneurial gym, this may turn into a multi-million dollar global business.
Minexcoin (MNC) is a low volatile crypto currency payment system that is part of Minex ecosystem. Due to its stable exchange rate, the coin is a reliable means of exchange. The fact that its growth can be controlled makes it attractive choice of storage because its value increases every time Controlled by a central-bank like algorithm, the coin's volatility and price growth can be maintained. The exchange rate margin builds the coin instead of damaging it This has made the traders earn from it big time.
Minex platform allows simple and safe infrastructure to operate online payments and digital asset exchange. It also offers an investment platform.
Attractive Features of the MNC
Unlike other crypto-currencies, Minexcoin is a stable low volatile currency with a controlled annual growth. As per 2016 it has grown up to33.6% and it is not coming down for its value is controlled. It will be ever increasing. So, if you want to trade with it, carry out you daily financial activities or commit to a long term investment, you will always be gaining value.
Should they accept it as a means of payment, it will be an alternate coin that will never depreciate in value.
Since it is a stable currency, not only will everyone enjoy its profits but also those who are willing to use it for long and short term investments. This is specifically so because Minex coin has controlled annual growth that is always gaining value.
The entire algorithm governing Minexcoin is like that of central bank. it makes it stable and be of low volatile value.
How It Works
You should note that Minexcoin is the product of Minex bank that is responsible for its control. Therefore, the bank ensures low volatility of the currency through parking and interventions.
Parking is the temporary suspension of certain amounts of coin that you have deposited in your account or wallet as it is known. When that is done, you are able to receive interest whose rates change according to the chosen parking period supported by the current supply and demand curve. This functions as an incentive to the investors because the more they park the more the interests is to them.
An intervention on the other hand, is when Minex bank decides to conduct buying and selling in order to remove market pressure. It completely uses its own reserve to do this and not the traders investment on the currency.
The Future Of Minexcoin
Developers of the Minexcoin concept (economists), speculate that there will be a major drive to make the coin be in constant demand when certain functionalities are added to it This will create an ecosystem that will grow and feed Minexcoin forever. Such functionalities are applications like:
Minex market: - where buyers and sellers of the coin meet.
Minex exchange: - where traders will be able to earn through currency exchange program.
Minex platform: - where all the asset nature of Minex coin will be explored to gain its maximum potential.
Basically, the evolution of Minex coin will be as follows: Subscription IC0 - Minexcoin - Minex bank - Minex platform - Minex exchange - Minex market.
Want To Be Part Of This Exciting Adventure?
Then, be part of the performing team by joining the second round of ICO where only 150000 MNC will be sold after which the market price for Minex coin will be determined before its entry into the exchange. Follow their link, sign up and participate. You may be the lucky one to be rewarded.
The Asian country, Korea, developed a self-evolving cryptocurrency which will govern systems that are decentralized. The meaning of this is that BOScoin will utilize block chain and advanced technologies way of solving the underlying problem in systems that are decentralized. Set to begin operations on April 17, 2017, BOScoin will function through these two ways:
1. Trust contracts: The dawn of the internet era positively impacted everything and everyone, but it also came with the increase in cyber crimes. BOScoin has been able to come up with a new approach to dealing with this problem using its predefined programs known as trust contracts. Trust contracts were developed by carefully selected languages such as Web Ontology Language (OWL) and Timed Automata Language (TAL). Its purpose with this nature of languages is aimed at creating a general purpose language on the block chain to give access to an individual who wants to modify, upload or execute contracts. These well-known languages also verify mathematically that trust contracts are transparent in nature. Therefore, when the decentralized systems break or make a mistake then BOScoin will be there to ensure security for smart contracts on the block chain as it is.
2. The Congress Network: This refers to the governance body that makes all the decision in the house. When all or some of the decentralized systems break, chances of baseless decisions being made are very high. The congress network has all node operators that help the decentralized system continuously change according to change in the ecosystem. Therefore decisions will be well calculated, and risk analysis was done.
BOScoin has the following features
1. It has two languages which are very powerful when it comes to developing Trust Contracts. They are OWL and TAL. Another language is SDLang. 2. It has a Democratic Congress where one node is equal to one vote. Therefore, decisions are made by node owners who can either accept or deny a proposal brought up. Therefore, the process of making a decision is democratic therefore giving room for sustainability and growth of BOScoin. 3. When it comes to the consensus algorithm, BOScoin utilizes modified FBA (Federated Byzantine Agreement) to be able to do the following: • Give room for anyone who wants to participate in the decision-making process by eliminating any authority dictates • Use the most minimum time possible to be able to reach consensus at timescales • Making everything transparent such that the user will be able to interact with parties, trust each other and form partnerships. • Provides asymptotic security where to protect against cybercrimes • Ensure that the protocol is followed during governance 4. The target transaction speed is 1000tx/sec. 5. The block size is dynamic Conclusion BOScoin primary goal is to bring civilization to all corners of the world. It believes in the rights of every individual and proper governance for a human. Being cautious in the decentralized system is what BOScoin tends to figure out and replaced it with the calmness that created the excellent governance. BOScoin, therefore, strives to curb the cyber security menace when dealing digital assets or money kept in offshore accounts.
A scaling solution originally developed for the bitcoin blockchain may soon get its first trial run on litecoin.
The percentage of the litecoin network signaling to enact the Segregated Witness (SegWit) upgrade reached record highs today according to Litecoinblockhalf.com, climbing to 58.33% of nodes and miners operating the software.
The figures mark a notable jump from last week when only around 25% of devices keeping track of the network's history were signaling for activation. Much of the increase comes from large mining pool F2Pool's decision to signal.
According to Litecoinpool.org, F2Pool currently produces over one-third of the hashing power behind the litecoin network.
While the figure marks an impressive uptick, SegWit still requires 75% of the network agree to adopt the proposal, a figure that is 20% below bitcoin's required 95% threshhold. Because of this differential, many view litecoin as a potential "sandbox" for discovering potential bugs and vulnerabilities possibly hidden in the nascent software.
Originally proposed in December 2015, SegWit sought to boost the bitcoin blockchain's transaction capacity by cleverly altering how data was stored by the network. Still, it has become mired in controversy, as a small group of vocal bitcoin users have pushed for alternative solutions.
A February 2018 trial date has been set for a civil trial pitting the SEC against infamous cryptocurrency entrepreneur Homero "Josh" Garza, founder of controversial companies including GAW Miners and ZenMiner.
The update is the latest in a case that stems back to 2015, when the SEC alleges that Garza and GAW operated a Ponzi scheme in which investors were sold fraudulent "cloud mining contracts" with the promise of receiving profit distributions.
Thus far, Garza has refused to answer questions regarding the allegations, preferring to exercise his Fifth Amendment right to non-incrimination. The court has given Garza and his counsel Marjorie Peerce until 7th May to file any motions regarding the direction of the case.
Likewise, the SEC has until 7th August to gather evidence supporting the claims filed against Garza and his companies.
The SEC is now seeking a cease to all cryptocurrency related activities by Garza and his companies, as well as to disgorge profits from the scheme. Both the SEC and Garza will each provide up to 10 depositions for the case, including expert witness testimony regarding the actions of GAW Miners and ZenMiner.
At this point, there is still the possibility that Garza and his attorneys could decide to settle with the SEC outside of US District Court.
Notably, Garza is also a defendant in a separate civil lawsuit brought upon by disgruntled investors but he was recently dismissed, according to documents filed in District Court.
That suit claims Garza and co-defendant, Cantor Fitzgerald investment banker Stuart Fraser bilked investors out of nearly $10m through the cloud mining contract scheme.
A judge has denied a motion by Fraser to dismiss the suit.
TaaS or "Token as a Service" is the first ever tokenized closed-end fund (CEF) that enables its investors to profit from the rise of blockchain businesses. TaaS was designed to conquer the chances and technical difficulties of investing in the blockchain markets. It was built on a smart contract of profit-sharing relationship; TaaS introduces an innovative Token-as-a-Service business design, enabling investors to subscribe to the income stream of the fund.
In addition to that, TaaS also developed an innovative Cryptographic Audit technology in order to become the first and truly transparent fund committed to crypto currencies as well as tokens. With the use and employing of the Ethereum blockchain as well as TaaS' very own Cryptographic Audit technology, the firm was co-founded by the well-known Blockchain protagonists namely Konstantin Pysarenko, Dmytro Chupryna, Ruslan Gavrilyuk, and Maksym Muratov.
They are all together working as a team along with other representatives from different places of the world. They have people from the United States of America, China, South Africa Poland, and Ukraine. TaaS have offices in Kiev as well as in San Francisco, which intend to offer a different way to participate in and profit from capital fund management, rising, and crypto currency investing. The use of the ICO funds accumulated will be audited and reviewed by no channel of independent accounting companies and business advisors.
TaaS Cryptographic Audit The Cryptographic Audit (CA) of TaaS is a set of independent auditing techniques that traces, records and timestamps buying and selling activity. This system of technology was built originally by TaaS to make sure that all profits are properly viewed and recorded, the money movement is transparent, and the business is in possession of all certified funds from investors. It is also said that CA enables any member of the firm to validate all trading history as well as portfolio history.
The TaaS CA founders said that the design is intended to simplify due diligence of investors and provide accessories for maximum transparency. In order to achieve the CA, a certain number of processes will be launched, and those are the following list.
Proof of Reserves The choice will be given to working exchanges that will show implemented Proof of Solvency; cold storehouse reserves are prepared to be audited such with Kraken and Poloniex.
Accounts on Auditable Exchange be provided is where each account is used for negotiating on exchanges that will have an API key that is view-only and permits everyone to check as well as verify the trade history of the account and balance.
Proof of Reserves for all the Non-Exchange Accounts A cold storage that will be used for the funds of the firm is an example of a non-exchange account. According to TaaS, a proof of ownership should be provided here.
Fiat Accounts' Proof of Reserves Using the TLSNotary or any similar solution is necessary in order to produce a cryptographic proof of command currency in the bank or in exchange accounts.
Regular Blockchain Snapshots To achieve having a proof that no one overlooks data between the audits, a unique smart contract will be formed to retain the daily blockchain snapshots of audit data.
More information on http://www.taas.fund to retain the daily blockchain snapshots of audit data.
To begin with, Lunyr is a decentralized crowd sourced encyclopedia which has an Ethereum base and it rewards its users with tokens of apps that can be useful in contributing information and also peer reviewing. Lunyr is a next generation online encyclopedia which has an aim of being the starting point of the internet for finding accurate, reliable and useful information. Basically, Lunyr will just build upon the Wikipedia philosophy and then it will develop knowledge which will be next generation based on the block chain of Ethereum.
In other terms, Lunyr can simply be a knowledge layer of Ethereum which is driven by economic incentives and consensus in order to create or develop next generation applications that are decentralized. The long term vision that Lunyr has is to create an API which is knowledge based of which the developers can use to develop the next generation applications which will be decentralized in Virtual Reality, Augmented Reality and also Artificial Intelligence.
The decentralized applications through the Lunyr API will have the capability to grab accurate and precise data on events happening in the real world by tapping into the knowledge base. In life we require information which is something very crucial and currently the most valuable reference site for information is Wikipedia which is used by a lot of people in the world. A lot of articles on Wikipedia can be easily edited by somebody who has an internet connection and in the process one can easily manipulate the Wikipedia website and put false information although some of the errors can be rectified.
Lunyr will create a next generation knowledge base which will be able to solve the issue of inaccurate information and will push the boundaries of crowd sourced knowledge by using Ethereum. Ethereum will enable the creation of application tokens which will be used in a system that is incentive based in order to replace the intermediaries and the tokens will play a vital role in the provision of incentives. Apart from that, all the content submissions will go through a compulsory peer review process and will not be subjected to the knowledge base until they are validated for accuracy, reliability and also efficiency. An incentive system that is powerful which is enabled by application tokens will ensure that the peer reviewers perform best according to the ecosystem interests. This will result to information which is highly reliable and also accurate and there will also be rewards for the contributors and reliable information which will be useful for creating next generation decentralized applications.
Not to forget, the system of providing incentives for reviewing content and contribution by the users is a very nice method in having a hub that has decentralized information which is accurate and reliable and in the process facts that are irrelevant can be discarded with very bad reviews and only real and relevant content will go through by rewarding the good reviews and also good content. Lunyr will also have a site that contains paid advertising spots with the Lunyr tokens which will provide coin appreciation and also a natural buying pressure for actual use.
The Lunyr tokens will basically be used to advertise on the platform and the advertisements will be based on texts. On the other hand, the Ads will create a powerful demand for Lunyr tokens from the people with financial resources. They will provide that economic force which in turn drives network effect as many readers and the contributors will be joining the ecosystem which is very crucial. Lunyr will also implement machine learning mechanisms in order to identify familiar topics for the contributors and by using the contributors as the reviewers, then they will be able to support the entire system because they will be responsible for reviewing content which is submitted by other contributors.
Types of Lunyr tokens:
• Contribution tokens. (CBN) These will be used as a basis for calculation in order to identify the quantity of Lunyr tokens that will be given to a participant and will be consumed after the Lunyr tokens have been distributed which will be after a two weeks period.
• Honor tokens.(HNR) These tokens will be used for voting and proposing on the native resolution system for disputes and it will be consumed after it's used.
• Lunyr tokens. (LUN) These ones will be used to buy advertising posts on the Lunyr network and the contributors will be awarded Lunyr tokens in a period of two weeks.
Therefore, in short the Lunyr platform will basically be designed to align the rational behavior of network participants in order to be beneficial to the entire system. Also, the implementation degree will be in relation to the quantity of the ICO funds and in the case of a minimal amount of crowd funding, Lunyr will come up with basic functions and additional features will be developed in cases like that of maximal cap.
Lunyr Crowdsale Information
Market
A strategic component of the Lunyr platform is its advertising system, which allows for the purchase of advertising on the platform using Lunyr tokens ("LUN"). Although the Lunyr platform is unique in its design, decentralization, and vision, it can be compared to Wikipedia.
Wikipedia today ranks as the sixth most visited site in the world according to Alexa rankings. It attracts 470 million unique visitors who view over 19 billion pages per month. Estimating the amount of advertising revenue Wikipedia could generate if it allowed advertising on its pages provides clues to the potential demand for LUN:
In 2006, Jason Calcanis, the cofounder of Weblogs, Inc, which was acquired by AOL, published an article about Wikipedia estimating an annual advertising revenue potential of $100MM.
In 2008, BusinessInsider.com performed an analysis of Wikipedia and arrived at an annual advertising revenue potential of $350MM.
In 2011, Vincent Juhel published a thesis about Wikipedia for HEC Paris, and arrived at an annual advertising revenue potential of $1.6 billion dollars.
Vision
We will initially focus on fine-tuning the system to improve accuracy, increase content, and grow readership. Once the knowledge base matures, we will attract a wider audience by encouraging contributions of near real-time data on world events and translations in multiple languages. Ultimately, Lunyr intends to establish its brand globally as a reliable, accurate decentralized knowledge base.
Taking it a step further, we will grow the ecosystem by developing an API that will attract developers. This Lunyr API will allow developers to use the knowledge base as a backbone for creating next generation decentralized applications in Artificial Intelligence, Virtual Reality, Augmented Reality, and more.
Lunyr API The Lunyr API holds promise for significantly changing existing business models and creating new ones. The Ethereum blockchain currently has no knowledge of the real world, yet most useful applications require real world information. Through the Lunyr API, decentralized applications will be able to tap into the knowledge base and grab accurate data on real world events and information. This leads to immediate benefits for Artificial Intelligence, Virtual Reality and Augmented Reality applications.
Artificial Intelligence Artificial Intelligence projects similar to Siri or Amazon Echo are enhanced with the Lunyr API. When users ask fact-based questions, the decentralized application can dig through the Lunyr knowledge base and provide users with reliable, accurate answers.
Virtual Reality The Lunyr API will enhance the intimate and visceral experience of interactive virtual worlds. Imagine putting on a virtual reality headset that lets you experience walking on the surface of Mars. As you walk along the cold, red-dusted ground, information about key landmarks and giant dust storms appear. All of this information is drawn from the knowledge base.
Augmented Reality The Lunyr API can be the foundation for learning-based applications in Augmented Reality. Imagine you are at the beach on a sunny day and you see beautiful flowers by the seashore. You want to know what they are so you put on augmented reality glasses, which will identify the flowers, tap into the knowledge base, and give you all the information you need to satisfy your curiosity.
