Whitepaper version 1.0

Transcription

1 Whitepaper version 1.0 Whitepaper Ducat coin DUCAT COIN

2 Table of content Content I. First things first p. 3 II. Cryptocurrency p. 4 III. Proof of Stake p. 5 IV. Masternode p. 6 V. Ducat Coin p. 7 VI. Privacy Darksend technology p. 10 VII. Summarizing Ducat Coin p. 11 VIII. Coin specification p. 12 IX. A closer look at the reward structure p. 13 X. Roadmap p. 14 XI. Community & Marketing p. 15 p2

3 First things first First of all: thank you! Thank you for your interest in this coin and thank you for taking the time to read our whitepaper, the whitepaper of Ducat Coin! In this whitepaper we will pay attention to cryptocurrency, proof of stake, masternodes and of course Ducat Coin. We like to be straight and honest with you, we did not create this coin to write 25 pages of a whitepaper, no, we created this coin to make sure we can all benefit from it. So don t expect a long story about the history of cryptocurrency and other boring stuff. No, in this whitepaper we want to tell you a bit about why we created this coin, which place it takes in the landscape of cryptocurrency and why we think we all can benefit from it. At the end that is the purpose of Ducat Coin: benefit. p3

4 Cryptocurrency To understand the purpose of Ducat Coin you need to understand something about cryptocurrency. Cryptocurrency can also be named digital money. A currency is a good currency when it has the following 3 characteristics: 1) There must be supply and demand 2) It must be easy to trade 3) It must keep its value The money we know that we can hold in our hands matches all of these characteristics. The banks made that money digital. Cryptocurrency is money 2.0. If it is a good cryptocurrency it matches all of the above characteristics and the plus is that it is decentralized, so no bank or government needed. The specs of a coin is decided upfront, so no surprises along the way. Cryptocurrency is fast, easy to trade, decentralized and it has proven to keep its value over time. p4

5 Proof of Stake PoS We all know Bitcoin and its proof of work method: the one doing the most work will make the block at the blockchain and receives the reward for securing the blockchain. Proof of stake has the same purpose, creating a secure blockchain, but the method is different. The one with the most value will make the block and get the reward for that. PROOF OF STAKE Advantage of proof of stake is that stays far away from hard algorithms, so no expensive and heavy machinery is needed. You can practice proof of stake with your computer or laptop, or even at a virtual private server, vps. So proof of stake does not require big investments, which makes proof of stake an interesting method for a lot of people. p5

6 Masternode Dash. Well sorry about that. But when we start to explain what a masternode is and what a masternode does, we need to start with Dash. Dash made the idea of a masternode great and is still doing that, so credits to them! A masternode looks a lot like proof of stake. The purpose of a masternode is to be the backbone of a blockchain. It helps securing the blockchain even more than just proof of stake alone. To have or to be a masternode you need to have a certain amount of coins of that particular cryptocurrency. By locking the coins you help the blockchain with securing decentralized and instant transactions. Because the masternode is doing this task he gets an higher reward than proof of stake. Masternode and proof of stake can happily live together at the same blockchain. For every block that is created the Masternode and proof of stake share the reward, but the masternode will get the most of that reward. Along the way the price of the cryptocurrency can go up which will make the masternode more valuable and the rewards more interesting. We hope you understand the beauty of a masternode now. p6

7 Ducat Coin 1/3 So finally we arrived to our own wonderful coin: Ducat Coin, which is named after a currency out of old Europe. It was designed and used in the middle ages and kept its value till the 20 th century. We created Ducat Coin to be the best cryptocurrency of its time, therefore we paid extra attention to the three things that make a currency a good currency: 1) There must be supply and demand 2) It must be easy to trade 3) It must keep its value. p7

8 Ducat Coin 2/3 1) Supply and demand Of course we will take care of the start of the supply. We will have a flawless presale where we will promise you an awesome price for our early adopters. Next it is up to you, our awesome community to take control of the supply. By setting up a masternode or by staking this coin you will make sure there will be enough supply of this coin. But why will there be a demand? To make sure there will be demand we did a few important things. First of all we have thought of a reward structure that builds up nicely. No crazy things but also no low uninteresting things. We believe that the reward structure that we will present to you is the best at this moment and in the future. Second thing to secure that there will be demand for Ducat Coin: we found the best damn people to help build this coin. This will result in a wallet that will actually work. It will result in a masternode that is easy to setup. And it will result in a blockchain without any unnecessary forks. p8

9 Ducat Coin 3/3 2) Easy to trade A coin that is easy to trade, how do you do that? Well first of all we made a wallet that is easy to use. We made sure the blockchain is working properly. And we will make sure there are enough places where this coin can be traded. We all know that exchanges are important for the price, volume and health of a coin. That is why we will reserve a big sum of the presale for listing at exchanges. 3) It must keep its value Ok and how are you going to do this? Well of course this is a challenge, but we know we will manage this one for you. We told you before about our reward structure. It is different than you are used to. We will not start with a way to high reward % and then scale down. The problem of that order is that there will be to many coins owned by to little people, so people who are impatient will dump there coins. No we will do it the other way around. We start with a nice reward, that slowly increases. This way everyone can benefit, even if you missed this coin in early stage you did not miss the higher reward when you find this coin a month later. The best is yet to come! And because we didn t make the reward % high as hell the supply will not be to big. We believe that our reward structure will bring the perfect balance between demand and supply. p9

10 Privacy Darksend technology Besides fast and secure transactions, PRIVATE transactions are also a big thing in cryptocurrencies. Why should everyone in the whole world be able to track every transaction you make on the blockchain? Of course in normal transactions you do not see names, you only see numbers that can lead to and account. But for some people that does not provide enough anonymity. Therefore we aim to implement the Darksend technology from the start of this coin. When you download and open the wallet you will see the function is optional to use. When you choose to send a private transaction you only have to mark that and send the transaction. The wallet will take it from there. The wallet will take care of the private transaction using the mixing feature. By using coin mixing the transaction is hard to trace because your transaction is mixed with other transactions. At the end it is almost impossible to trace which transaction was sent from A to B. At the end you could compare coin mixing with browsing using the Tor network. We don t have to tell you the advantages of this feature, let s be honest, a lot of you are in crypto because of the anonymity it has. Only thing you should now is: there are fees involved using this option. p10

11 Summarizing Ducat Coin Easy to trade Supply & demand An awesome presale Speed in listing Rewards increasing slowly Supply & demand Great currency Keeps its value Easy to trade Keeps it value Listing at well-known exchanges Fast in transactions Private function Awesome reward structure Building BIG community Best marketing p11

12 Coin specifications Whitepaper Ducat coin Ducat Coin (DC) Algo: Scrypt Maturation 8 hours Min stake age 8 hours Block spacing seconds Max supply - 32 million Privacy Darksend technology BLOCK REWARD 70% Masternode/ 30% POS Block Premine Block DC Anti instamining protection Block DC Fair launch Block DC Block DC Block DC Block DC Block DC Block DC Block END 50 DC Halving every blocks to 3 DC Masternode collateral 3500 DC p12

13 Reward in Ducat Coin A closer look at the reward structure Reward per block Reward MN Reward PoS As mentioned before Ducat Coin is built with a game changing reward structure. In contrast to many other currencies we are building an upward reward structure. With this structure we make sure the circulating supply does no grow too fast. Doing it this way we believe that the ratio between supply and demand is a healthy one, which will be reflected in the price of Ducat Coin. p13

14 Roadmap p14

15 Community & Marketing Community With this coin we are aiming to build a big community. The Main platform will be Discord to give answers to community questions and help them setting up their masternode. We have made a big team of fantastic helpers. We selected people from all over the world, so that we can run Discord 24 hours a day and 7 days a week. If no helper is available to answer your question we count on our community. We are sure you are all willing to help each other out where needed. Besides Discord we will be active on Twitter and Reddit, we hope you are too! Marketing When you enter our Discord channel you will notice that we have a big marketing/awareness team. We believe that we have a fantastic product, a coin that can last for a long time. We want people to know that and therefore we only have the best people in our team. Besides the well-known marketing/awareness guys in the room we are aiming for some cool Youtube videos in Q We want to spread marketing during the next 1-12 months and do not want to put all marketing budget on fire in the first month. Therefore: suggestions by community are always welcome. Last but not least: we want to make sure, you, the community, is involved in marketing. We will have bounties for activity in the Discord channel and we know that you have hidden skills that can help us spread the word about Ducat Coin. Please let us know if you have special grahpic skills or whatsoever. We love your help, so that we can keep being that great cryptocurrency. p15