Vialcoin. How are we a different cryptocurrency?
Our cryptocurrency’s distribution model can be viewed as a universal basic income system, because it’s really designed to give on a regular basis, and to spread the wealth evenly, constantly, logically, among all it’s users.
One Registered wallet per user can take part in our interest payout program while we are in Alpha phase. At this stage we can have some control over who joins, and how much they earn each month. Many Vialcoins still available for free from our initial pre-ICO giveaway.
Unique features when our coin will be complete
Mining will not work like BTC model at all, that’s why it’s still difficult to create our coin, even with thousands of bitcoin clones out there.
We want to link all mining into a single pool that greatly improves the chances of mining for registered users, tracks each miner’s work and pays our regularly, once a week.
In addition we will impose restrictions to the max Cpu/Gpu each registered device can mine with, set at an affordable price. To keep up with technological advances the set limit will increase by 5% per 1 million blocks.
We will try to make the rewards stay fairly even throughout the entire mining process, giving only a slight advantage to early adopters. The rewards will only grow as the network matures and no of transaction increases, with a slight hiccup when the last coin has been mined. By that stage, the fee rewards should overtake the drop rate by enough for this not to cause an issue. We will try to implement some measures to ease the drop in miners income. Other than that, because our fees are a %, the miner’s rewards will always mirror the market’s true value (volume).
After all the coins have been mined, the network will sustain it’self out of transaction fees. The more transactions, the greater the rewards, and at this stage the beauty of our distribution design will really kick into 6-th gear, because our fees are a %, rather than nominal fee. Some say this is utopia, but we consider it just fair wealth distribution in the cryptocurrency world.
Built as a true democracy, each wallet having the same voting power in a network that has a socialist distribution model. Literally the best of both worlds.
All will be written in code and set in stone, once the system is complete and set, no human intervention should be required. However, if any proposed features get an 51% + votes in it’s favor, that feature will be happening.
Why do you have to identify yourself?
Because we strive towards a fairly even distribution, and we want to make sure nobody can earn more than the interest rate dedicated per registered user until we’re ready to launch.
We’re building an honest network, and because the blockchain is ridiculously secure, among thousands of anonymous cryptocurrencies, we can be the “show offs”. In addition, we will be in the best place to survive when authorities start regulating this digital wild-wild-west.
We are considering several options for making registering just as appealing after our coin goes life and can be mined, but as long as mining is restricted per wallet, our network should be very secure from a 51% attack.
If you buy ViC and prefer to remain anonymous, you are totally free to do so at this stage. We’re aiming for a fully transparent cryptocurrency, but if we can not remove the option of anonymity, we will offer registered users have too many advantages to ignore.
In the end, this will be a legit company, owned by all the miners.(I.e.: 1.000.000 people mine at max allowed power = 1.000.000 people own 100% of all the Vialcoin business). Hierarchy, organisation and revenue distribution to be established.