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| Pigeoncoin | ||
| A digital peer to peer network for the facilitation of asset transfer. | ||
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| In the fictional world of Westeros, pigeons are used as messengers who carry statements of truth. Pigeoncoin is a use case specific blockchain designed to carry statements of truth about who owns what assets. | ||
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| Thank you to the Bitcoin developers. | ||
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| The Pigeoncoin project is launched based on the hard work and continuous effort of over 400 Bitcoin developers who made over 14,000 commits over the life to date of the Bitcoin project. We are eternally grateful to you for your efforts and diligence in making a secure network and for their support of free and open source software development. The Pigeoncoin experiment is made on the foundation you built. | ||
| Pigeoncoin - Ending data collection in social media | ||
| Official Website: https://pigeoncoin.org | ||
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| Official Discord Channel: https://discord.gg/SZcf63h | ||
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| Abstract | ||
| Pigeoncoin aims to implement a blockchain which is optimized specifically for the use case of transferring assets such as securities from one holder to another. Based on the extensive development and testing of Bitcoin, Pigeoncoin is built on a fork of the Bitcoin code. Key changes include a faster block reward time and a change in the number, but not weighed distribution schedule, of coins. Pigeoncoin is free and open source and will be issued and mined transparently with no pre-mine, developer allocation or any other similar set aside. Pigeoncoin is intended to prioritize user control, privacy and censorship resistance and be jurisdiction agnostic while allowing simple optional additional features for users based on need. | ||
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| Pigeoncoin aims to implement a blockchain which is optimized specifically to complete an altruistic goal: to end data collection in social media. | ||
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| Pigeoncoin is free and open source and will be issued and mined transparently with no pre-mine, developer allocation or any other similar set aside. Pigeoncoin is intended to prioritize user control, privacy and censorship resistance and be jurisdiction agnostic while allowing simple optional additional features for users based on their need. | ||
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| A blockchain is a ledger showing the value of something and allowing it to be transferred to someone else. Of all the possible uses for blockchains, the reporting of who owns what is one of the core uses of the technology. This is why the first and most successful use case for blockchain technology to date has been Bitcoin. | ||
| What is Pigeoncoin? | ||
| Pigeoncoin pioneered the X16S (shuffle) algorithm built from the X16R algorithm to provide an open-source decentralized data layer platform for the development of decentralized community applications - such as our own social media application. | ||
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| The success of the Etherium ERC 20 token shows the demand for tokenized assets that use another blockchain. Tokens offer many advantages to traditional shares or other participation mechanisms such as faster transfer, possibly increased user control and censorship resistance and reduction or elimination of the need for trusted third parties. | ||
| Pigeoncoin is an experimental digital currency that enables instant payments to anyone, anywhere in the world. Pigeoncoin is the proof-of-concept network for the X16S algorithm. We thank the Ravencoin team for their hard work on innovating the X16R algorithm and hope that our efforts are useful to them as well. | ||
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| Bitcoin also has the capability of serving as the rails for tokens by using projects such as Omnilayer, RSK or Counterparty. However, neither Bitcoin nor Ethereum was specifically designed for facilitating ownership of other assets. | ||
| Previous to our efforts, the X16R (random) algorithm was launched on the Ravencoin network in early 2018. This new algorithm provided an innovative method of ASIC resistance. Since our new algorithm is building on the Ravencoin team's work, it's important to first understand how it works. X16S randomizes the order based on the previous block hash, but no algorithms are repeated or omitted. This provides all the benefits of X16R while vastly improving the hashrate and power consistency. This makes it much better for small miners, further promoting decentralization. To dig in further for those that are more technically minded, check out our whitepaper for a more technical presentation at: https://github.com/Pigeoncoin/brand/blob/master/X16S-whitepaper.pdf | ||
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| Pigeoncoin is designed to be a use case specific blockchain designed to efficiently handle one specific function: the transfer of assets from one party to another. | ||
| Data Nodes - A Future Development | ||
| To ensure that we have a strong network we will be building a layer on top of the blockchain for data caching; as such we need a platform for this layer. To that end we will use nodes built and hosted by the community to support the data caching. They will be decentralized data storage nodes for decentralized apps (DAPPS), with a sufficient level of redundancy because the data will be spanned and duplicated across nodes. Rather than data being stored in the chain, data will be stored on the nodes. The chain itself will contain meta data about the data on the nodes, like data type, time to live, etc. Writes to the chain will be minimal so that the speed of the data node layer will not be hindered. Basically we aim to have a fast, second layer data node network for DAPPS to run on. These data nodes will be community built and so we will implement a reward base similar to masternodes. However, their primary purpose will be as a data caching layer. By using a similar model like masternodes, we are utilizing an already existing technology for easier implementation with a reward mechanism already built into it. The data nodes will provide a fast and decentralized data layer that reward the data node operator for hosting data. Once the data caching layer is operational, we will then introduce our social media app to run on it. Our social media app will be our first pilot “proof of concept” DAPP and the data node will facilitate the storage of all the assets needed to run the social network. The open source, decentralized data caching layer will be the real innovation and provide a platform for many other possibilities. | ||
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| Bitcoin is and always should be focused on its goals of being a better form of money. Bitcoin developers will unlikely prioritize improvements or features which are specifically beneficial to the facilitation of token transfers. One goal of the Pigeoncoin project is to see if a use case specific blockchain and development effort can create code which can either improve existing structures like Bitcoin or provide advantages for specific use cases. | ||
| For more information, as well as an immediately useable compiled version of the Pigeoncoin Core software, checkout https://pigeoncoin.org or navigate to our releases tab at https://github.com/Pigeoncoin/pigeoncoin/releases for up-to-date releases and patches of the software. | ||
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| In the new global economy, borders and jurisdictions will be less relevant as more assets are tradable and trade across borders is increasingly frictionless. In an age where people can move significant amounts of wealth instantly using Bitcoin, global consumers will likely demand the same efficiency for their securities and similar asset holdings. | ||
| License | ||
| Pigeoncoin Core is released under the terms of the MIT license. See COPYING for more information or see https://opensource.org/licenses/MIT. | ||
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| For such a global system to work it will need to be independent of regulatory jurisdictions. This is not due to ideological belief but practicality: if the rails for blockchain asset transfer are not censorship resistance and jurisdiction agnostic, any given jurisdiction may be in conflict with another. In legacy systems, wealth was generally confined in the jurisdiction of the holder and therefor easy to control based on the policies of that jurisdiction. Because of the global nature of blockchain technology any protocol level ability to control wealth would potentially place jurisdictions in conflict and will not be able to operate fairly. | ||
| A Quick Overview of Blockchain Technology | ||
| A blockchain is a ledger showing all transactions made with a currency, including a coin or transaction's value - as well as the ability for that currency to be transferred to other parties. Of all the possible ways that the blockchain can be used, the reporting of who owns what and when and when that ownership was acquired is one of the core uses of the technology. | ||
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| In the new global economy, physical borders and defined jurisdictions will be less relevant and frictionless transfer of assets and value between parties and individuals anywhere in the world at anytime of the day will be increasingly more important. This means that global consumers will likely demand the same efficiency for their less tangible assets: their information and their privacy. | ||
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| For such a global social network to work it will need to be independent of regulatory jurisdictions. It will need to be decentralized and not controlled by one entity or organization. In the old days, pigeons were agents of truth literally in that they were used to send messages just as ravens were. Pigeoncoin will be a blockchain where information can be trusted because of consensus. That information is owned and controlled by whoever created it; without worry about whether that information is being accessed by an authorized third party whose aims and intentions are less than noble and good. This is not due to ideological belief but practicality: if the rails for blockchain value and information transfer are not censorship resistant and jurisdiction agnostic, any given jurisdiction may be in conflict with another. Because of the global nature of blockchain technology any protocol level ability to control wealth would potentially place jurisdictions in conflict and will not be able to operate fairly. That is the goal and the vision of Pigeoncoin: to end data collection in social media on a decentralized blockchain that is jurisdiction agnostic and censorship resistant. Join us to build this together! | ||
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| Rewritten by Xrawe5885 |