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Posted on August 16, 2014 at 5:36 AM
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Posted on August 16, 2014 at 5:43 AM
Last Edited: December 27, 2015 at 10:36 PM0 likes -
Posted on August 16, 2014 at 5:45 AM
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Posted on August 20, 2014 at 8:59 AM
About
The Coin Proz team is creating “ProzCoin” to generate capital and create a debt free start up, a coin that has multiple merchant acceptance from day one, and also creating a way to pay users for content submission and Platform participation. Coin Proz Oy recognizes the talented people within the cryptocurrency community constantly create new intellectual property. Participants will have an opportunity to get paid in ProzCoin for cryptocurrency related activity via the revolutionary Proof of Action algorithm which will be unique to the Coin Proz Platform.
Specifications
Algorithm: Mastercoin protocol for base, PoA/PoW Hybrid mining for future
Max Coins: 100 million
Distribution Model: All 100 million coins will be mined in 1 block
10% coins will be evenly distributed to the founding team over 3 years.
20% ProzCoins will be sold initially on exchanges. All sold ProzCoins will go 100% to Coin Proz Oy. The revenue generated from the sale will go to the further advancement of the site and keep as reserves for our merchants who accept Prozcoin.
10% Will be reallocated for PoA/PoW mining rewards
10% for Proof of Action (PoA)
20 % Discretionary spending to have reserves for exchanges/merchants
30 % Unallocated for future plans Cold Stored with multi-sig founder verification for wallet release
Project Scope
The Research and Development team led by Shannon Code intends to use capital generated from the sale of Proz Coins to create innovative software and hardware. The creations developed with/for the Coin Proz Network will be tested and hardened throughout the digital infrastructure. These innovations will come in a variety of flavors, from open sourced to commercial.
Coin Proz Marketing Department will be doing direct marketing on rival sites on twitter, Reddit, and other social media sites that are not crypto-centric. In addition to being head of R & D for Coin Proz, Mr. Code serves as a Developer Evangelist for the Mastercoin team. He is in a unique position to help the Mastercoin Team and the Coin Proz team cross promote and expand the networks of both organizations. Coin Proz has created many allies in the crypto world that see the need for a more cooperative approach to information sharing, and they will help spread the message of the Coin Proz Network all throughout the crypto communities.
The team has developed strong relationships with many coin developers who will bring their communities to Coin Proz. Merchant acceptance will allow those involved to always have a venue that accepts ProzCoins, and in the process of using ProzCoins, users contribute to the constant improvement and development that the organization aims to deliver.
Proof of Action
What is Proof of Action: (POA) is going to be system designed for the Coin Proz Platform. It will use individualized difficulty increase based on upper/lower limits. POA pays users for article submission, moderating forums, participating on forums. POA adjusts to pay out higher rates for higher quality content based on user ratings. Algorithm has internal limits to logarithmically reduce payout if user continues to go past upper limit to discourage system abuse. Payouts once per week to user/wallet address. POA will be implemented into Coin Proz Platform Wallet after completion.
Coin Proz is proud to announce that Lazycoins Exchange will host the launch of ProzCoin, as their new platform is the perfect new exchange to bring a fresh platform to cryptos. In addition, the Mastercoin exchange will be another home of ProzCoin. 1 million ProzCoin will be offered through Cryptoshoppers at an introductory 250 Satoshi.
Merchant accepting Proz Coin From Day 1
- Coin Proz - advertising, promotional articles, sponsor page, paid troll box
- Cryptoshoppers – Unique clothing, art, and accessories
- Left Turn Only - video productions
- Elblaus Design – Graphic Design, UI design
- Altcoin Agent- PR, videos
- Future Media Management and design – PR, Marketing, website building
If you want to read more in depth about Coin Proz, please visit: http://www.coinproz.com/
Tim Frost: http://fi.linkedin.com/pub/tim-frost/75/924/b93
Chris Bates: https://iub.academia.edu/ChrisBates
Shannon Code: http://iamafreakingninja.strikingly.com/
Erko Elblaus: http://www.elblausdesign.com
Josh Wilmoth: http://www.linkedin.com/pub/josh-wilmoth/47/4/993
Its concept and approach as similarities with LTBC except of course i did not read it properly.
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Posted on August 20, 2014 at 9:44 AM
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Posted on August 20, 2014 at 1:36 PM
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Posted on August 20, 2014 at 1:54 PM
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Posted on August 20, 2014 at 4:10 PM
Last Edited: December 27, 2015 at 10:37 PM0 likes
