Qortal
Nonprofit Organization Management - Phoenix, Arizona, United States
Qortal Employees
Qortal Senior Management
Qortal Details
More information regarding the launch will be posted on the project's wiki page (wiki link can be found at the top of the page). QORA users will be able to obtain either a 'minting account' or coin on Qortal chain via providing proof of their previously minted blocks or coins.Only users that can prove access to the existing chain private keys will be accepted.Users who staked blocks on QORA will be provided with minting accounts.Users who were previous holders of QORA coins, will be burning those coins, to be included in the genesis block of Qortal, the information will entitle them to 'QORA' asset on the Qortal chain. The asset will get them a steady 'transition' into Qortal Coin at a 250:1 QORA:Qortal Coin ratio. Every block, each previous holder will be rewarded based on the size of the held QORA they burned. If a user previously held 1000 QORA, they will obtain 4 Qortal Coin over a set timeframe which is given to them every block (regardless of being a minter or not).The 'transition' is different from the idea of a 'swap' usually used in the case a coin needs to change to a new chain. The transition method utilizes information in the genesis block to determine rewards including those given from 25% of every block's reward (to give previous holders their tokens on the new chain).The total amount of Qortal Coin will be not capped, however, the ratio at which the new coins are created will be governed and decided upon via votes of the community inside the system. Initially, a reward of 5 Qortal Coin per block will be initiated.Qortal chain will start from block ZERO with ZERO tokens (coins).No pre-mine or dev fund will be required.Only minting accounts and users with QORA balances that are then part of the transition will obtain coins through the distribution system. The trade portal will allow direct BTC trading and will be implemented in 'phase 2' of the planned multi-phase platform launch.Poloniex and OpenLedger will not be allowed to obtain coins.
Qortal Technologies
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Apache
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