Reserve Share

Main ideology
PoR Block Generation Method
2014
Content
1. Reserve Share Mission Statement
2. PoR block generation method
3. Reserve Share Features
1. Reserve Share Mission Statement
Reserve Share is a brand new cryptocurrency
which is based on Proof of Reserve block generation
method, with Unique source code, which allows the
users to keep their units in reserves by which they
can increase their Shares.
2. PoR block generation method
As the PoR is a reinterpreted and re-built PoS
method we can find some similarities but mostly it
has it's own features. With Proof Of Reseve method
we simulate a DECENTRALIZED bank system, where
the shareholders can keep their units in reserves. In
this case simulating a banking system means that
the shareholders decides the longevity of staking.
This means if the shareholder puts his balance in
Reserve for longer time he will get more return, or
if he chooses a shorter period he will get less
return. To get a clearer vision over the method here
is the basics of the PoR :
I. Proof of Reserve, as the name suggests itself
is a method of securing the network based on coin
reserves held by users of the network.
II. Reserves are vaulted balances, for a specified
timeframe, having a specified return option.
III. Returns are calculated by the network and
paid every 6 hours to active balance. The amount of
the return is decided by the longevity of the
ReserveRate you choose.
IV. ReserveRates are as it follows:
7.5% per year for a Reserve of 3 days
8% per year for a Reserve of 7 days
8.5% per year for a Reserve of 10 days
9% per year for a Reserve of 15 days
9.9% per year for a Reserve of 30 days
Reserve rates will be reduced most likely to
maximum 5% once the coin is estabilished, but not
earlier than 08/2015.
V. Reserved coins can be released from Reserve
for a fee of 0.5% of the Reserved amount. The fee is
sent to a burn address so it helps in balancing the
inflation.
VI. In the unlikely situation when no active
reserves are found by the network, a function called
Auto Reserving takes place when 10% of the active
balance is Reserved for 6 hours at a rate of 3% per
annum.
VII. When reserving takes place it is broadcasted
to the network, so offline block generation is possible
by other peers, no need for keeping the wallet online
to get the return. A generated block will be signed by
other peers. Example of offline block generating: A
puts in reserve X amount, and the reserving is
brodcast to B, C, D, E, F, G, H, J peers. D generates a
block for A, that is accepted only if B, C, E, F, G, H
signs the transaction as valid.
VIII. A new block will be generated by the
network every 60 seconds
3. Reserve Share Features
Before we decided to release Reserve Share,
weve analysed the current cryptocurrency market.
During our analysis weve discovered different
projects with different type of distribution and block
generation methods. As a conclusion weve decide to
use the best and fairest method to increase the
number of persons included in the cryptocurrencies
world. By making a 100% free distribution we can
give the chance to everybody to get a share. We
decided to issue 1,000 shares and each share
contains 1,000 units. This means a total supply of
1,000,000 units.
Our intention is to make a
total egalitarian and
descentralized system. By
using a well developed
system we can decrease
massively the number of
sockpuppets, which can
heavily influence the life cycle of Reserve Share. Our
main objective is to insure a long life cycle for
Reserve Share.
If we would like to ilustrate the intended life cycle
of Reserve Share, it would be like this. We can divide
it in 4 main phases. In the first phase we announce
Reserve Share and the registration period begins. At
the same time the Code development is started by
lead developer badam. This will be a unique code
developed from scratch. The block generating
method is inspired by Proof of Stake, but we are
implenting new features, by which the whole method
will be reinterpreted and modified.
The first phase ends on 25
th
of August, or when
1000 individual shareholder gets admitted to the
Shareholders List.
The second phase contains the distribution and
the first massive wave of transactions. By making a
fair and total egalitarian distribution we can
decrease the chances of massive dumping. After the
first massive wave of transaction we can expect the
third phase when the market stabilises and Reserve
Share reaches a stable and steady price on the
market.
As a long term strategy, in the third, and fourth
phase well start to develop different business and
investment options. This contains project like building
a website, where you can invest your Reserve Share
Units in different investment options, fundraiser
projects, start-up busineses. Also at these
investments there will be a base ROI. These
procents will be determined or by the starter of the
fundraise requester or by the founder. The main
ideology is to make Reserve Share a stabile
cryptocurrency which will be used for investment
and start-up busineses. Also in the fourth phase well
introduce new innovations in matter of technology
which will elongates and extends Reserve Shares life
cycle.