ProzCoin[PROZ] : Proof of Action (PoA)
http://gryfx.com/logo/prozcoin.png
Click on Logo to go to C-Cex and Purchase ProzCoins
New cryptocurrency - ProzCoin[PROZ]
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
Press 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.
Proof of Action White Paper
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.
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Click this GIF to see the official CoinProz video !
Merchant accepting Proz Coin From Day 1:
1. Coin Proz - advertising, promotional articles, sponsor page, paid troll box
2. Cryptoshoppers – Unique clothing, art, and accessories
3. Left Turn Only - video productions
4. Elblaus Design – Graphic Design, UI design
5. Altcoin Agent- PR, videos
6. Future Media Management and design – PR, Marketing, website building
7. Altcointoday - Promotional articles
If you want to read more in depth about Coin Proz, visit: http://www.coinproz.com/
http://i.imgur.com/ONrT0D1.png
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
ProzCoin Developer Interview:
http://www.cryptotycoons.com
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Edit:
As per request, this as an addendum to more accurately explain the PoA/PoW merged mining that team is planning.
Quote:
And as for the way we plan on implementing mining, the idea is that we will add PoW coins to the CoinProz mining pool, and monitor the activity so that completed mining hours are what get counted towards the score, and not the "hashing power" of the miner.
So if you PoW mine "Dogecoin" through the Coin Proz pool, you will get your regular PoW payout in Doge, but in addition you will get a PoA payout in ProzCoin for "participation" in PoW mining. This way we can bring people into the mining pools, not force them to mine a specific coin, and then reward their activity ProzCoin, which could really be seen as a "bonus".
Our model is about trying to get the alternative currency communities to work in the same direction. PoA allows individual communities to thrive, then CoinProz also gives an unbiased home for information distribution, forum particpation, mining, and an all inclusive reward system for involvement.
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/\ click on logo to see video
Bitcointalk Official Thread: https://bitcointalk.org/index.php?topic=740383.0
Official Website: http://www.coinproz.com
