ARRIVED AT 23 SEPT 2017:
* INSTAPAY *
* PRIVATEPAY *
* MASTERNODES *
* FAIR MINING *
Pura’s next-generation peer-to-peer payments network doesn’t leave transactions hanging or leave anything to chance. Pura is hard-coded to financially reward incentivised individuals who actively protect the Pura network. So called MasterNode owners, these individuals operate servers that remain online, performant, and on call at all times, all over the world, in order to guarantee that Pura transactions execute instantly, privately and safely.
Unlike single layer systems like bitcoin, where miners voluntarily support the network as long as their equipment is competitively performant and profitable, and where changes to the code need lengthy periods of time and complicated risky processes between parties who do not always agree, Pura’s paid masternode layer, a derivative from Dash, means Pura can scale more efficiently and deploy services more quickly than a blockchain run entirely by unpaid volunteers.
Furthermore, the Pura network rewards masternode owners more frequently and generously that any other network today, so there is no risk of not having enough masternodes, and by having an entire incentivised distributed network of servers each holding a full copy of the blockchain and working for Pura 24×7, the developers can rely on them to quickly deploy any additional new feature they wish, as well as ensure that the performance of advanced features like PrivatePay and InstaPay is guaranteed.
EMERGING MARKET READY
Because of the profitable nature of running a masternode, owning one is attractive, and in order to avoid bloating the network with unnecessary masternodes or encouraging reckless masternode operators, one condition must be fulfilled in order to become a masternode owner – proof of ownership of a certain number of coins.
While the coins don’t need to be in the masternode itself, meaning the owner can sell them anytime, proof of ownership is achieved by keeping the coins in a certain way that makes them transparent to the entire network. And so, the number of coins needed for a masternode must be chosen carefully because coins locked in masternodes means they are no longer available to end-users.
Pura is a digital cash movement for the common good with a strategic focus on global growth and mass-adoption. To achieve this Pura has chosen a high total coin supply of approx. 350 million Pura, as well as a high available coin supply of approx. 175 million Pura currently in circulation, with around another 175 million yet to be mined.
As the price per coin increases over time, in order to remain accessible, attractive and useful in emerging markets and be successfully adopted there, Pura must sustain a high number of coins in circulation. In order to avoid unnecessary masternodes locking up the coin supply, Pura achieves this by setting proof of ownership for a masternode at 100 thousand Pura.
For comparison let us take the current situation with Dash (using approximate numbers for simplicity):
A Dash masternode requires 1000 Dash. Dash has a total coin supply of 22 million, where 7.5 million is already mined and available out of which 4.6 million is already locked up in 4666 masternodes. This leaves just 2.9 million Dash to go around the world. Buying 1000 Dash today is not cheap, but the number of masternodes continues to rise, which can affect the coin supply available to end-users further.
A Pura masternode on the other hand requires 100000 Pura. Pura has a total coin supply of approx 350 million, where 175 million is already mined and available. While unlikely, if we assume a case where the same ratio of masternodes occurs, then around 109 million Pura would be locked up in 1088 masternodes. This leaves 66 million Pura to go around the world – a significant and attractive difference, especially for emerging market adoption.
PRICE STABILISING EFFECT
Another major benefit of a 100 thousand coins per masternode size is the stabilising effect it has on the coin price. Pura’s highly attractive masternode rewards structure makes buying the high number of coins needed attractive and worthwhile. Many masternodes will be formed by quick investors and enthusiastic supporters, each time removing 100k coins from the market, while increasing the value of the remaining coins. The high number of coins per masternode implies a higher commitment level and with each masternode being valued more, the turnover of masternode ownerships remains relatively low as owners tend to stay invested over the longer-term. The combined effect is the circulating coin supply, it’s growth rate and the value of each coin is to a certain degree stabilised, helping to create the price stability conditions needed for mass-market adoption.
So what are the rewards and how frequently are masternodes paid?
Imagine masternode rewards working like a queue for the cashier at the supermarket. You step into the line, wait for your reward and go back to the end of the line once you’ve received it for the next round, repeating the process over and over again.
The number of people in the queue, or the number of masternodes is the determining factor in how frequently you get paid, but the amount you get paid, unlike miners who are affected by competing hashpower and mining difficulty, does not change.
The eventual target distribution for Pura is that 40% of the block reward goes to masternodes. Using round numbers for simplicity, the block reward for Pura is approx. 25 Pura per block found (actually 25.16), meaning 10 Pura per block for masternodes.
With an average block time of one block found appx. every 2.5 minutes, at present 576 blocks are mined on average per day (86400 seconds/150) paying 576 masternodes per day.
EARLY INVESTOR ADVANTAGES
If you’re an early investor owning a masternode before the 1088 masternodes used in the above example you’ll stand to profit the most. Using the analogy of the supermarket, there will be less people in the queue ahead of you each time, so you’ll get through the cashier line several times more in the same amount of time. Instead of getting rewarded every 2 days, you can be rewarded as frequently as every single day or even every few hours if you’re early enough.
September 21st-22nd 2017 marks the dawn of the Pura eco-system, through it’s “DAWN” release, making masternodes possible.
From this moment onwards, until future releases implement the 40% target reward for masternodes, early masternode investors will enjoy massive 60% of the block reward. (Valid until the 10% distribution for PuraPlanet and the 10% distribution for the Development budget is implemented).
Investors who take advantage of this time-limited situation, taking the example of 250 masternodes in existence, would receive 15 Pura approximately every 10 hours, working out at 12593 Pura per year. For comparison…
@ 1 USD per Pura; 1.049 USD per months
Therefore while this period, dubbed “the dawn of the masternodes” is temporary and valid between releases only, investors who seize the opportunity stand to make more rewards than normal.
RUNNING A MASTERNODE
Investors may choose to run their own masternode, or have a hosting provider handle everything for them for a small monthly fee, allowing investors with no technical background a chance to profit from one of the most interesting passive income investments opportunities available in the cryptosphere today.
FAIR MINING FOR ALL
Pura implements “fair mining” code, empowering individual miners to receive a fairer share of the mining rewards by enabling them to better compete with large mining pools without needing to invest large sums of money in specialised mining equipment.
FAIR MINING FOR THE COMMON GOOD
By making the Pura network more attractive to higher volumes of individual miners Pura seeks to ensure greater democratic freedom through more evenly distributed and therefore decentralised mining power, and enhance network performance through a more consistent and therefore stable level of network hashpower.
It achieves this by applying an innovative mining difficulty retargeting algorithm known as DeltaDiff, that ensures a smoother and fairer adjustment in difficulty levels regarding the finding of blocks by miners, normally distorted by the arrival of large hashing power to the network (e.g. multipools) as well as ensuring a similar adjustment upon their usually sudden and “dumping” departure.
Smoothing is achieved by adjusting mining difficulty based on a moving average of time taken to find blocks over the last 24 hours, eliminating much of the effect caused by miners hopping onto and off of the network based solely on when a coin is easiest to mine.
Benefits of a more consistent and stable level of network hashpower include:
- The avoidance of unconfirmed transactions left hanging in the network
- Better performance of advanced transaction features such as PrivatePay and InstantPay
Benefits of more evenly distributed and therefore decentralised mining power include:
- The empowerment of the many over the few, thereby supporting the pursuit of the common good
- The avoidance of a specialised mining equipment “arms race” making mining inaccessible to individual miners (e.g. Bitcoin mining)
- A fairer distribution of mining rewards and therefore wealth in society
- Greater democratic freedom with regards to network changes and the avoidance of contentious hard forks caused by conflicting concentrations of power (e.g. Bitcoin Cash)
Pura is a digital cash movement for the common good, set to become a leader in responsible decentralised living.
This innovative “fair mining” code not only immediately benefits individual miners and the Pura network, but forms part of a greater strategic and technical enabling of upcoming features yet to be announced related to empowering “the average Joe”.
Combined, they drive a powerful component of Pura’s mass-adoption strategy and position Pura as a world leader in “fair-mining”
OFFICIAL UPDATE FIGURES:
Swaped amount: 168.217.506
Left amount: 6.782.494 on this adress transparent:
from this amount reserved for the initial PURA Bounty Programme:
reserved for the PURA PLANET (Foundation – Start 1st Quarter 2018):
PURA IS A 100% TRANSPARENT CRYPTOCURRENCY FOR THE COMMON GOOD!