A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers.
Many people believe that cryptocurrencies are the hottest investment opportunity currently available.
About iGniter
iGniter token seeks to enable users to specify which type of Ethereum based token they would like to issue. We currently provide support for ERC20 and ERC223 based tokens as these are the most common and widely adopted token standards. In the future, as new token standards are developed we intend to implement them into our token creation service.In addition to token creation, our service allows users to transfer, burn and mint new tokens. We strive to make token management as user friendly as possible as we firmly believe user friendliness is one main factor that is currently limiting mainstream adoption.
At launch there will be 50 million iGniter tokens and initial token owners shall be rewarded with newly mined iGniter tokens. The maximum possible supply of iGniter will be reached in 40 years, and is estimated at 53 million. However, as tokens are burnt each time the token creation service is used, we expect this number to be lower.
Concept and Purpose
Over the last few years cryptocurrencies have started to gain more acceptance and interest around the world. As computer scientists, we are no strangers to individuals asking for assistance with computer related matters. With the growing interest in cryptocurrencies, we felt that improved ease of use in the creation and maintenance of Ethereum based tokens would lead to more mainstream adoption and understanding of the cryptocurrency space.Our team of developers also believes in protecting the environment and preserving it for future generations to come. This factor, in combination with our goal, led to us deciding to create a token which would be able to generate additional tokens over a period of time, demonstrating the concept of mining; without the environmental impact coming from Proof of Work mining.
Our token seeks to enable users to specify which type of Ethereum based token they would like to issue. We currently provide support for ERC20 and ERC223 based tokens as these are the most common and widely adopted token standards. In the future, as new token standards are developed we intend to implement them into our token creation service.
In addition to token creation, our service allows users to transfer, burn and mint new tokens. We strive to make token management as user friendly as possible as we firmly believe user friendliness is one main factor that is currently limiting mainstream adoption.
We envisage scenarios where any individual who is interested in the space can easily demonstrate how tokens can be created and sent to friends, family and coworkers.
Furthermore, we hope that companies and individuals who are desirous of launching their own cryptocurrency tokens will use our service to make the process much simpler. These scenarios can greatly lead to increased knowledge of the space and ideally increased adoption.
We are of the view that these scenarios are realistic as individuals have expressed to us on several occasions how likely it would be for them to develop their own token. Upon explanation of the steps required, they expressed that they were no computer experts and it would be difficult for them to perform the necessary programming steps to issue their own tokens.
How iGniter Works
To issue a new token using the iGniter service, users need to send the current value of INR (this is iGniters ticker) to the service payment function in the smart contract. After sending the required amount of INR, the user has a maximum of 5 blocks to generate tokens. Users should know that the price and maximum number of blocks is subject to change. Each time the iGniter Token Creation Service is used, iGniter tokens will be burnt as this is built into the iGniter service payment function. This will in turn reduce the total supply of iGniter. Users can specify whether they would like to issue an ERC20 or an ERC223 token. After, they specify the name and symbol of their token, along with the number of decimal points and its total supply.Users should also note that In order to transfer any newly mined INR, token holders need to call the claimINRDividends function. When this function is called, the number of INR tokens mined at that time are assigned to the calling address. If users try to transfer INR without calling this function, it is possible for a transfer error to occur.
Token Creation & Maintenance Service
iGniter provides a token creation service. To issue a new token using our service, users need to send the current value of INR to the service payment function in the smart contract. After sending the required amount of INR, the user has a maximum of 5 blocks to generate tokens. Note: The issuance price and maximum number of blocks is subject to change.Each time the iGniter Token Creation Service is used, iGniter tokens will be burnt as this is built into the iGniter service payment function. This will in turn reduce the total supply of iGniter.
Users can specify whether they would like to issue an ERC20 or an ERC223 token. After, they specify the name and symbol of their token, along with the number of decimal points and its total supply. Furthermore, one can also specify if the token should be mintable and burnable.
Token maintenance features at present are free. Our features allow token issuers to transfer, mint and burn tokens. This allows token management to be extremely user friendly, as we believe ease of use is critical for the end user.
Funding
Our team does not believe that our token requires the issuing of an initial coin offering (ICO). We are firmly of the view that it can be fully developed in house and therefore we are not conducting an ICO. However, we will accept donations to the following addresses:Bitcoin: 39VNgbYoV52nF7Ay5UgCieFFHX11acYfGH
Ethereum: 0xf23a483FE4F5734EfD5E50fC4821Cf3B86305dEA
Litecoin: MB3YD6ExbjxCATmg8t1mcbBo6z33YeWcV4
Dotcoin (Cryptopia): 0xbd6c93be74dccd5b466474428ed961f0c1352c0b
Note: Sending donations will not result in you being included in the token distribution or being sent any iGniter
tokens. These donations are established to ONLY be accepted as a method of payment for developing our
service OR if anyone desires to give us a friendly bonus/tip.
Issuance Rate and Methodology
At launch there will be 50 million iGniter tokens. Initial token owners and anyone who callsthe appropriate smart contract functions shall be rewarded with newly mined iGniter
tokens.
Currently, the Ethereum block time average is around 15 seconds. The following calculations
were made based on this assumption; however, it should be noted that future updates to
the Ethereum blockchain can dramatically change the block time and thus the rate of
issuance of new rewards.
Approximately, 2102400 blocks will be mined in a year. With a reward of 0.000007 per block
for each initial address, each address would generate 14.7168 INR tokens per year.
This would result in approximately 74000 new tokens being issued in total per year and just
under 3 million new tokens being issued at the end of the 40-year period. This would lead to
3 million tokens being mined for initial token holders.
However, our development team felt that it was necessary for anyone to be able to mine
new INR tokens. Our view was that it would be unfair for only initial address holders to be
able to mine INR.
Therefore, mining functions with different tiers were designed within the smart contract,
each generating differing rates of INR and being triggered by varying means.
These functions are:
• DividendRegistration
• HODLRegistration
• Tier_Starter_Registration
• Tier_Basic_Registration
• Tier_Classic_Registration
• Tier_Wildcat_Registration
• Tier_Rainmaker_Registration
Description of Functions
DividendRegistration – enables the caller to mine INR at a rate of 0.000007 INR per blockHODLRegistration – enables the caller to mine INR at a rate of 0.009 INR per block. However, the calling
address needs to hold 100k+ INR in order to be eligible to receive these rewards.
Tier_Starter_Registration – the caller needs to send at least 0.01 ether to access this function. They are then
able to mine at a rate of 0.00003 per block.
Tier_Basic_Registration – the caller needs to send at least 0.1 ether to access this function. They are then able
to mine at a rate of 0.00036 per block.
Tier_Classic_Registration – the caller needs to send at least 1 ether to access this function. They are then able
to mine at a rate of 0.0042 per block.
Tier_Wildcat_Registration – the caller needs to send at least 10 ether to access this function. They are then able
to mine at a rate of 0.06 per block.
Tier_Rainmaker_Registration – the caller needs to send at least 100 ether to access this function. They are then
able to mine at a rate of 1.200000 per block
Due to the design of the smart contract, there is no definite maximum supply for INR as this is dependent upon the number of people who call the additional mining functions.
Accessing INR
In order to transfer any newly mined INR, token holders need to call the claimINRDividends function. When this function is called, the number of INR tokens mined at THAT time are assigned to the calling address.If users try to transfer INR without calling this function, it is possible for a transfer error to occur.
e.g Alice owns 139.029 INR, according to the balanceOf function, however, when she last called the claimINRDividends function, her balance was 112.498 INR. Therefore, if she tries to transfer more than 112.498 INR, an error will occur. She would need to call the claimINRDividends function again in order to be able to transfer more than 112.498 INR.
Exchanges
As we are not conducting an ICO, there are no funds to pay exchanges to be listed.However, we shall be in touch with various exchanges in an effort to get iGniter listed.
Roadmap
2018/01/21Smart Contract Launch
2018/01/23
Token Creation & Management Service Launched
2018/01/23
Bounty Requirements Announced
2018/01/28
Beginning of Bounty Distribution
January 2018
First Exchange Listings
February – April 2018
Additional Exchange Listings
2018/04/30
Completion of Bounty Distribution
Bounty Methods:
There is a maximum of 5000 addresses.- [20% Supply] Group A: Initial Addresses claim the full reward of 10000 INR tokens
- [40% Supply] Group B: Joining our Discord, Telegram & Reddit pages (25%, 75%)
- [5% Supply] Group C: Social Media Promotions (25%, 75%)
- [5% Supply] Group D: Translations and Forum Signatures (25%, 75%)
- [10% Supply] Group E: YouTube Videos & Web Articles (25%, 75%)
- [20% Supply] Group F: Reserved for future bounties
stage of these type of bounty rewards, 25% of the bounty is claimed initially and upon completion the remaining
75% is issued.
Groups
Group ARequirements: Original holder of iGnite (iGn); provide iGn address.
To claim reward, join our Reddit page and our Telegram group. (100% bounty)
Group B
Requirements, Part 1: individuals need to join at least two of the following (Discord, Telegram,
Reddit) and make at least three satisfactory contributions over a period of one week. (25% bounty)
Requirements, Part 2: individuals need to be actively posting for a period of one month. Posts
need to be satisfactory; 20 posts are required over a period of one month (with a minimum of 5
weekly). (75% bounty)
Group C
Requirements, Part 1: individuals must share our posts OR create their own posts on either
Facebook or Twitter (at least 3 times). Accounts need to have at least 100 friends/followers. (25% bounty)
Requirements, Part 2: individuals must share our posts OR create their own posts on either
Facebook or Twitter (at least 10 times) over a period of two weeks. Accounts need to have at
least 100 friends/followers. (75% bounty)
Group D
Thread translations receive one address.
Whitepaper translations receive two addresses:
Roadmap translations receive one address.
Five addresses are assigned to approved individuals who complete combined translations of
our thread, Whitepaper and Roadmap. (100% bounty)
Group E
YouTube/Social media videos with 1000 to 5000 views can submit one addresses.
YouTube/Social media videos with 5000 to 20000 views can submit two addresses.
YouTube/Social media videos with over 20000 views can submit five addresses.
Web articles can be posted anywhere online. Articles with verified high traffic views can claim
between two to five addresses, depending on their performance.
For both YouTube/Social media videos & article bounties, the 25% bounty payment is based on when the video or
article is posted, and a claim is submitted.
The remaining 75% claim of the bounty is based on the performance of the content.
Group F
Reserved for future bounties.
Bounty Distribution Stages
The bounties will be completed as scheduled below. Tokens shall be distributed appropriatelyto qualifying addresses.
- Bounty Distribution 1: February 9 – February 14, 2018
- Bounty Distribution 2: February 20 – February 26, 2018
- Bounty Distribution 3: March 5 – March 12, 2018
- Bounty Distribution 4: March 19 – March 25, 2018
- Bounty Distribution 5: March 31 – April 6, 2018
- Bounty Distribution 6: April 11 – April 18, 2018
- Bounty Distribution 7: April 24 – April 30, 2018
- Bounty Distribution 8: May 5 – May 11, 2018
Token Info
Name: iGniterTicker: INR
ERC223 token
No ICO
Trustless, fair launch
Self Mining Smart Contract
Initial Addresses: 5000
Tokens per Address: 10000
Initial Supply: 50,000,000
Decimals: 6
Mining: Around 40 years
Visit iGniter on
Website - http://ignitetoken.com/Reddit - https://www.reddit.com/r/IgniteToken
Discord - https://discord.gg/SMU4fKa
Telegram - https://t.me/joinchat/HTy9cE0Z-FE3kXUTzzkEfw
Medium - https://medium.com/@iGniterToken
Ann Thread - https://bitcointalk.org/index.php?topic=2808192.0
Author by :
Bitcointalk Username: Kartika1Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1964049
ETH Address: 0x941C6ca63C1855a2c4B5aAC13B4729fF816f5fDb
No comments:
Post a Comment