Straks - Lyra2rev2 | Open Source , E-Commerce , Decentralized | SegWit: Active



  • Introducing STRAKS

    Introducing a new decentralised, open source, community driven digital currency, focusing on e-commerce utility.

    The name is a Danish word, that has never been used in any cryptocurrency context until now. It means quick/immediate - referring to the focus that we have on ensuring that transactions are as fast as can be and to be the most efficient cryptocurrency for e-commerce utility in the sector. The currency unit of account is STAK, along with its exchange ticker.

    E-Commerce

    Global e-commerce sales are projected to reach $2.2 trillion for 2017 and to increase two-fold by 2021 to $4.4 trillion. STRAKS seeks to position itself as a competitive altcoin for e-commerce application. This will be achieved through developing and implementing relevant technology that facilitates e-commerce transactions as smoothly as possible. We will always strive to create partnerships and increase real-world utilisation.

    Open Source

    STRAKS is open source. Anyone is free to contribute to STRAKS’ development and make a pull request through Github. Further details making community contributions as smooth as possible, will become available in the future on the new website.

    Decentralized Ownership

    Ownership and access rights are decentralized. This ensures that the long-term application and longevity is not dependent on a single individual any longer. This safeguards not only STRAKS' future, but also your investment and partnerships.

    Community Orientated

    One of STRAKS core values is being community oriented. Rest assured knowing that the STRAKS foundation team will always strive to collect feedback and suggestions from the community and evaluate the input.

    With the upcoming STRAKS-vote you will be able to not only propose ideas publicly to all STRAKS holders but also vote on what needs developing or prioritising next. Look out for STRAKS-vote on the Roadmap.

    Speed & Privacy

    Speed and privacy are core concerns for users today as well as e-commerce businesses. To ensure that STRAKS is as effective as possible for e-commerce application, STRAKS will maintain a high focus on increasing anonymity and most important on increasing speed of transactions - to always be at the forefront.

    Specifications

    Version: 1.14.5.0 (Initial)

    Block Size: 4 MB

    Max Block Size Serialized Size: 16 MB

    Proof-of-Work Algorithm: Lyra2rev2

    Block Time: ~60 seconds

    Coin Maturity: 100 blocks

    Transactions Per Second: 133 (Bitcoin: 3, Bitcoin Cash: 27, Dash: 13)

    Transactions Per 24 hours: 11,520,000

    Difficulty Retargeting: New D106 Algorithm

    Maxmium Coin Supply: 150 Million

    Treasury Funding: 5% Per Block

    SegWit: Active

    SegWit2x: Active

    SegWit4x: Active

    Lightning Network: Compatible

    Atomic Swaps: Compatible

    Masternodes: Enabled

    Masternodes Collateral: 50,000 STAK

    Masternode Reward: Rebalancing via New Reactive Equilibria (REV1) Algorithm

    ZSMR: Explicit Masternode Decentralisation Promotion [Zero Reward to Block 50400]

    ZSIP: Zero Start Instamine Protection [7 Days: 10080 Blocks]

    Roadmap:

    The STRAKS Roadmap extending into Q1 2019 has been published. The deliverables seeks to strengthen the core ecommerce utility focus. Due to the cryptocurrency market being fast phased, we reserve the right to change the roadmap as new opportunities or threats are discovered.


    STRAKS Comparison with Leading Digital Currencies

    There is only one digital currency on this list that is designed - from the bottom up - to be scalable, fast, low cost, secure, decentralized and provide for instant utility, and that is STRAKS, the alternative conclusion is simply an escalation of commitment. As part of STRAKS' decentralization manifesto, we fully support a diverse crypto-currency sector - with the caveat that we are strictly against the concentration of hashing power, through the use of asic hardware.

    Escalation of commitment refers to a pattern of behavior in which an individual or group will continue to rationalize their decisions, actions, and investments when faced with increasingly negative outcomes rather than alter their course

    Alt text

    Coinbase Transactions, Pool Mining and Wallet Mining

    IMPORTANT

    Due to the unique combination of SegWit, treasury reward, miner reward and Masternode payments, as of this writing, mining software and pools do not yet support STRAKS' coinbasetxn configuration. The only way to mine at the moment is via STRAKS' wallet, as follows:

    Approach 1 (Local):
    (1) Start straksd locally
    (2) Run: "./straks-cli generate 1"
    
    Approach 2 (Remote):
    (1) Start straksd on remote server and local server
    (2) On your local server run: "./straks-cli getaccountaddress 0"
    (3) On Your remote server run: "./straks-cli generatetoaddress 1 <address from step2>"
    (4) Shutdown local wallet
    
    Approach 3 (QT Wallet):
    (1) Start straks-qt
    (2) On the menu bar; Help -> Debug Window -> Console
    (3) Run: "getaccountaddress 0"
    (4) Run: "generatetoaddress 1 <address from step3>"
    (5) Repeat step 4, as many times as desired.
    

    We find ourselves in an attractive position of having a low barrier to mining entry at launch, which allows anyone and everyone to start mining from the outset. You are only limited by the number of wallets that can be run simultaneously. The latter is comparatively cheaper than setting up a multi-gpu mining rig.

    We are curently working with mining pools to ensure that we can enable GPU/CPU pool mining as soon as practicable.

    Zero Start Instamine Protection (ZSIP)

    STRAKS blockchain has been set to issue a 0 block subsidy up to block height 10080. At 1440 blocks per day, this is approximately 7 days. During this time, community members will be informed of launch and will be able to configure their setups for mining. During this period there are no Treasury payments, either.

    Maximum Coin Supply and Block Reward

    STRAKS will be capped at a maxium supply of 150 million coins. This target supports a managed inflation rate that allows for a constant block reward of 10 STAKs.

    The constant block reward prevents event cliffs related to expected "halvings" and will support a more consistent and stable participation rate over a long time horizon.

    More information will be available on the STRAKS' website

    STRAKS Foundation Team

    Links



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