RESPECTONOMY [RES] - A Decentralized Social Network
Respectonomy is a decentralized, self-moderated social network system that gives the user the freedom to share their thoughts without the fear of censorship while rewarding them for it. Though modern social networks provide a platform for free information exchange, it is just an illusion of freedom as some sort of moderation or censorship is often used.
Respectonomy began as a group of developers who wanted to make a community for content creators to earn money. This project aims to assign value to data, measuring the quality of inherent information, and to provide a mechanism for fairly compensating data bandwidth availability.
Respectonomy will be an open-source, browser based implementation, that utilizes the Bittorrent protocol for content sharing and a proof of work blockchain to determine the value of the RESPECT token that runs the system. Being an independent token, unlike colored coins, the PoW blockchain system that Respectonomy flows on, represents a closed network with dynamic membership of parties, and this determines its true value in a free-market.
An Economy of Respect
Free open-source decentralised code that runs in a web-browser.
A non-proprietary platform where the user is in control.
A system that justly prices the consumer while fairly rewarding content creators & curators.
Globally replicated decentralized bittorrent based content-storage.
No ads, spam or trolling. Less noise.
Proof-of-work mining ensures sybil-resistant fair distributio
The initial block reward is 16 RES per block. A block is generated every 2 minutes. This block reward reduces over time (see Halving) to give an incentive to early users of the platform. Eventually each block will have the same reward.
The block rewards are halved every 525800 blocks, which is approximately 2 years at an average time of 2 minutes per block. The block reward is halved till it is 1 RES and stays constant henceforth.
Proof of Work
To avoid an identity conflict, a Proof of Work (PoW) based SHA256 algorithm is used. The miner solves a computationally hard problem which is decided by the difficulty level to mine a block. The solution to the problem shows proof of the miner's work in obtaining the block and hence there is no conflict in the identity. The SHA256 algorithm is a one way hashing algorithm which provides security not only to the network, but also the transactions as everything is given a unique hash value.
The difficulty level of a block determines how hard it is for a miner to get the hash value of the block. Initially the difficulty will start at 1, which is the lowest possible value, and will increase with subsequent blocks. The difficulty level is calculated as a moving average of the past 2016 blocks. The difficulty may increase or decrease to ensure that the average block time is approximately 2 minutes.
Thanks for your interest in the project. Our ICO is scheduled to launch on February 6th 2017. To better understand Respectonomy, please read our Whitepaper. We are planning to come with an initial supply of 5 Million RES Tokens out of which 4 Million tokens will be offered in the crowdsale for raising maximum 2000 Bitcoins in the process. Detailed Terms will be announced soon. One Million tokens are reserved for bounuses, bounty giveaways and early adopters of RES tokens in ICO. Any remaining tokens will be distributed amongst developers, seed investors, marketers and further additions into development and marketing.
Most of the funds will be spent on developement and marketing of the platform. Utilization of ICO funds is as follows- Development would mostly include- Hiring new developers and Bug Bounties Marketing & Operations on the other hand would be spending on seminars, press releases, inviting bloggers, operating expenses, etc. If and only if needed, buy walls to safeguard ICO Investors, else remaining funds will be put in reserves to be used for any unforeseen expenses.
ICO Date has been decided.Our ICO will launch on February 1st, 2017
RESPECTONOMY Signature and Twitter Campaign has been announced
Follow us on Twitter for latest updates and retweet to your followers to gain rewards.
Sign up for the twitter campaign here - https://goo.gl/forms/AK8Re8ibnJvBIqvW2This Tweet. Retweets of tweets before This TweetSignature Campaign
Following are the rules for the RESPECTONOMY Signature campaign
1. Signature campaign begins Wednesday 18th January 2017 12 noon ICT (UTC 5am) and will continue till end of ICO period.
2. In order to provide a fair bounty distribution, register with this form - https://goo.gl/forms/cVulcCnUm...
3. This is a fixed rate campaign. Funds will be distributed in the following ratio:
- Junior Member: 1 RES/post
- Member: 1 RES/post
- Full Member: 2 RES/post
- Senior Member: 2 RES/post
- Hero Member: 3 RES/post
- Legendary Member: 3 RES/post
(1 BTC = 2000 RES)
4. Minimum 10 posts per week, including 2 mandatory posts on the ICO Announcement thread (link to thread will be updated here)
5. Maximum 20 posts per week.
6. Replies on this post will not be counted.
7. Only constructive, on-topic posts will be counted (100 characters or more)
8. No spam, flaming, single word (or image), short sentences – bump, “me too”, “thanks”, other forum(off-topic, meta, Politics & Society, Beginners & Help,Archival, Auctions, Lending, Games and round), posts on or other obviously crappy posts WILL NOT BE PAID.
9. You must use the provided signature code for your member level.
10. Rank at Wednesday 12 noon (UTC 5 am) will be considered for the week. If rank changes midweek, new rank will be considered for the next week starting Wednesday.
11. Signature code must remain in place for the entire duration of your participation in the campaign. No other signature code / advertising allowed in your signature while you are participating in this campaign.
12. Checks will be done during the signature campaign. Failure to comply with any of the rules will result in no reward for that week.
13. Progress of the signature campaign will be updated on the post weekly.
14. Newbies and Accounts with negative trust cannot join.
15. Change of rules/signature will be done in this post only (there will be no separate post). It is the responsibility of the participant to stay updated.
16. Signatures for the ranks are given below. Please keep the signature that corresponds to your rank.
center][url=https://bitcointalk.org/index.php?topic=1755823.0]▰▰★ [b]RESPECTONOMY[/b] ★▰▰
★ A Decentralized Social Network ★ ICO 1st Feb ★[/url]
[center][url=https://bitcointalk.org/index.php?topic=1755823.0][u] ▰▰▰▰ ★ [b]RESPECTONOMY[/b] ★ ▰▰▰▰ [/u]
★ A Decentrailized Social Network ★ ICO Launching 1st Feb ★[/url][/center]
[center][url=https://bitcointalk.org/index.php?topic=1755823.0][color=navy][u] ▰▰▰▰ ★ [b]RESPECTONOMY[/b] ★ ▰▰▰▰ [/u][/color]
[color=black]★ A Decentrailized Social Network ★[/color] [color=navy]ICO Launching 1st Feb[/color] [color=black]★[/color][/url][/center]
Senior to Legendary Member:
[center][url=https://bitcointalk.org/index.php?topic=1755823.0][color=navy][size=14pt][u] ★ [b]RESPECTONOMY[/b] ★ [/u][/size][/color]
[size=12pt][color=black]★ A Decentralized Social Network ★[/color][color=navy] ICO Launching 1st Feb [/color][color=black]★[/color][/size][/
There has been a small change in ICO Launch of Respectonomy. The ICO has been re-scheduled to 6th Feb 2017.
We are currently in the process of finalizing ESCROW
for the ICO. Details of the same will be updated shortly on the website
as well as the Social Links. If all goes well ESCROW will be available
else ICO will continue as it was.
Join our slacktwitter to stay updated.
Please visit respectonomy.com for more information.
RESPECTONOMY [RES] ICO Started
- ICO Period.
- Start Date: 6th February 2017 12 noon (5 a.m. UTC)
- End Date: 4th March 2017 12 noon (5 a.m. UTC)
- ICO Requirement
- Total requirement of ICO is 2000 BTC.
- Initial Rate
- Our Initial rate of Respect token will be 0.0005 BTC. (1 BTC = 2000 RES)
- Coin Distribution
Total supply of coins is technically infinite, out of which 5 million is the inital supply.
Note: Should ICO does not reach the target of 2000 BTC, only that many tokens will be mined as per the amount of BTCs raised.
eg- Suppose we were able to make it to say 1000 BTCs, that means only 3
Million RES will be mined out of which 2 Million goes to Investors and 1
Million as mentioned above.
- 4 million for participants in ICO
- 1 Million for Bounties,Campaigns,Translations and Bonuses for early adopters in ICOs and the Team.
- ICO Period.