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Nov 19, 01 / Nov 23, 17 15:24 UTC

Re: Solar (SOL/XSO) (Asgardian Cryptocurrency)  

The currency is being worked on i suppose, the name is Solar.

Grtz, Dirk.

Nov 20, 01 / Nov 24, 17 10:24 UTC

In response to the recommendation by @sleipnir1981 about using the Ethereum network as a base and issuing the currency as an Ethereum smart contract, I would recommend against the use of Ethereum for several reasons. While the Ethereum block-chain is superior to others in production where the support for complex contracts is concerned, it is slower than other available options like the Stellar block-chain and the cost per transaction is significantly higher. Additionally if not properly designed, an Ethereum smart contract could lead to disastrous consequences as has been the case with several ethereum-based ICOs this past year.

As recommended by @cedced999 the Stellar block-chain is in fact a superior choice for issuing a new token, not only because it's faster and easier but as a developer who has chosen Stellar's block-chain over the likes of NXT, the Ethereum virtual machine and others, I can offer my professional recommendation that we use the Stellar block-chain based on the built-in support for a decentralized exchange, a faster more scalable network and a host of built-in security and authentication features that make it easier and safer to manage newly issued tokens.

Furthermore, my company will be launching a new neo-banking and payments platform in 2018 in 26 countries with support for 29 currencies including 14 crypto-currencies. As a citizen of Asgardia, I would like to contribute my skilset to the development of the Sol and when it is ready, we can add support for it as the 15th crypto currency bringing the number of supported currencies to 30.

-hatter.glass

Nov 22, 01 / Nov 26, 17 01:31 UTC

How I can obtain this criptocurrency ? 

Nov 25, 01 / Nov 29, 17 04:41 UTC

I've noticed existing coin SOL also known as Solaris coin, this would prevent us from using SOL for our cryptocurrency Solars, So would suggest sticking with something like ASOL  for Asgardia Solar.

Nov 25, 01 / Nov 29, 17 10:09 UTC

Hi,

It seems that it is very quiet on this front.

I would however, recommend to base the coin of off the Verium/Vericoin network.
You may ask, why on earth would you do that? well.... Vericoin is the currency and Verium is the "reserve"

Also, this coin is only minable by CPU and not GPU, which makes it more stable and everyone can participate with their laptops/pc's, without having to have phat GPU videocards.

Naming it SOLAR as a currency and something else for the reserve, in which only the reserve is mineable and the currency can be staked.

To obtain SOLAR, you's either have to convert your reserve, which you mined, into SOLAR or buy SOLAR with Tether(money) or other crypto's

This can work, but we need active coin designers that know what they are doing....right now, nothing is happening, lol

Dec 10, 01 / Dec 12, 17 05:17 UTC

me interesaría apoyar, podríamos generar la moneda con paneles solares, contribuir para armar un generador de energia solar que se este almacenando y que sirva como fuente de alimentación a futuro para una posible estación espacial asgardianas

Jul 19, 02 / Aug 3, 18 21:24 UTC

Don't know how far along this project is but here is some thoughts.

I think to create a stable base for the currency, you(the developers) should base it on 3 pillars.

1 The value of gold.(gives it a connection to the "old" world economy and gold will probably be somewhat stable a long time yet)

2 The value of Bitcoin.(if you believe that Bitcoin will continue to be something like digital gold)

3 Mechanic of your own choosing/design.(to give room for some monetary control?)

With this foundation it would be less prone to manipulation and speculation (unlike many currencies today). This will help build trust which is key

Distribution should start with Citizens (a one-time give away or maybe even some sort of basic income(very very basic)

Also a scalable and very secure tech. You don't want to hit a wall in number of transactions. And all currencies need security to maintain trust.

I think it would be the wrong way to go if you base it solely on existing chain like etherum, Stellar or ripple. But those three should surely be inspiration (also the maybe the matrix.ai project could be interesting to look at later this year if it holds up)

 I think with the above in consideration a Asgardia currency would help a lot in bringing an Asgardia economy to life. It could bring serious business opportunities for citizens that could help further fund the progress of Asgardia.



  Last edited by:  Mariya Kudryavtseva (Asgardian)  on Jan 11, 03 / Jan 11, 19 09:20 UTC, edited 1 time in total.

Jul 26, 02 / Aug 10, 18 12:17 UTC

Personally, I'm not a big fan of gold-backed currencies, for a quick "pros and cons", see the associated wikipedia page: https://en.wikipedia.org/wiki/Gold_standard#Theory


As for the noted advantages of backing a currency with gold, there are ways to gain the same advantages without some of the disadvantages, especially given that we're talking about a cryptocurrency:


  1. Long-term stability: Most modern blockchain-based cryptocurrencies have a built-in function that determines how fast new currency is produced, for Proof of Work (PoW) based cryptocurrencies, difficulty (https://en.bitcoin.it/wiki/Difficulty) is the most common way to manage inflation/deflation.
  2. Fixed exchange rates: This is a result of backing the currency with a commodity, not especially by backing it with gold, find a commodity that has the desired stability, without the disadvantages of gold, and you'll have a better candidate for commodity backing than gold.
  3. Disallowing financial repression: Again, accepting that we're acting within the confines of a cryptocurrency, this is easily achieved, as you can, mathematically and programmatically, link "interst rates" (which can be embedded in the core logic of the currency, especially in Proof of Stake (PoS) currencies) and inflation (by means of controlling the rate of issuance).

There are some of the listed disadvantages of gold-backing that CAN also apply to cryptocurrencies, as they are usually implemented, but if we base the new currency on a well-functioning chain and allow ourselves the freedom to change that source, there are programmatical solutions to most of these, I have included a single, cherry-picked example below:


Limit on economic growth: Given that we limit the inflation by providing a stable rate of issuance, we also have put a fixed upper limit on the growth of the economic growth (i.e. we can set the rate of issuance (and by extension, the inflation) at, as a completely fabricated example, 10% per year, but then it turns out that our economic growth has a potential of more than 10% per year, and then we're, more or less, in the same predicament as if we'd been using a gold-backed currency). This can, however, be remedied by sacrificing some transparency. The maximum "rate of issuance" of gold is the rate at which the physical gold can be mined, but we can control the rate of issuance of the cryptocurrency programmatically, letting it be dynamic rather than static, that way, if needed, we can exert some control over rate of issuance, at the price of lowered trust in the currency, as it is now controlled by people instead of computer. This could, again, to some extent, be countered by making these adjustments difficult, for instance, requiring a public vote or 80% unanimity in parliament.

Aug 2, 02 / Aug 14, 18 22:50 UTC

I would suggest looking into RChain.  It has the same abilities as ETH but the speed of XRP.  For now there isn't another crypto anywhere near touring that could fulfill all of our citizens current and future needs. 

Jan 11, 03 / Jan 11, 19 03:01 UTC

dont collaborate with minergate!!! they rip you off by limiting your hash rates