DSTRA Coins are designed with future value by maximizing decentralization, opportunities for earnings, community-driven, and fair distribution starting from day zero.
Learn more at https://dstra.io
DSTRA is a cryptocurrency that implements the Proof of Stake (PoS) protocol. DSTRA strives to become the premier cryptocurrency by implementing the best aspects of current blockchain technology. Our diverse community is key in achieving our goals.
"We are but whirlpools in a river of ever-flowing water... We are not stuff that abides, but patterns that perpetuate themselves." Norbert Wiener, inventor of Cybernetics.
DSTRA is a Proof of Stake / Masternode hybrid coin that will be airdropped and is based on Proof of Community system. Sense of community will be measured via a variety of indicators which will incite community participation towards the greater good of DSTRA. DSTRA is built on the Bitcoin codebase and Masternode integration will be done via the DASH codebase.
We do not believe in a group of stakeholders, that does not share a vision, and are only motivated by profit and greed. We've seen this time and again: short-term gains can lull us into long-term losses. Processes such as innovation too often lose out in favor of cost cutting, as described in the research article by Mary J. Benner and Michael Tushman1.
Theoretically, when an economy is fully competitive, the profit motive ensures that resources are being allocated efficiently. However, we believe that when systems are solely designed for the profit motive, they tend to disregard morals or public safety in the pursuit of said profits.2
We will trust our community to maintain an "open culture". This is a concept according to which knowledge should be spread freely and its growth should come from developing, altering or enriching already existing works on the basis of sharing and collaboration, without being restricted.
Creating a culture that attracts, retains and inspires talent should always be a priority.
“We owe it this new generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one.” - CFTC Chairman Giancarlo3
SEC and CFTC Give Testimonies at Senate Hearing on Virtual Currencies The DSTRA network is built upon cutting edge technology with its community as the main foundation. Our culture is by far the biggest sustainable advantage we have in business today. Competitors can copy code overnight, but culture takes energy and commitment to build.
We believe in The Wisdom of Crowds as defined by James Surowiecki[^4]. He describes the aggregation of information in groups, resulting in decisions that, he argues, are often better than could have been made by any single member of the group.
In the opening anecdote of his book he relates his surprise that the crowd at a county fair accurately guessed the weight of an ox when their individual guesses were averaged (the average was closer to the ox's true butchered weight than the estimates of most crowd members).
As a broad community we should be well positioned to make decisions about our currency and the way we transfer value.
An initial coin offering (ICO) is a means of crowdfunding centered around cryptocurrency, which can be a source of capital for startup companies. In an ICO, a quantity of the crowdfunded cryptocurrency is preallocated to investors in the form of "tokens," in exchange for legal tender or other cryptocurrencies. These tokens become functional units of currency if or when the ICO's funding goal is met and the project launches.
An undesired side-effect of starting with an ICO for a coin that uses masternode technology is that often the value and voting power of the network ends up in the hands of a select group of individuals. Usually this group is split between the friends of the developers and people with deep pockets.
DSTRA will not close off its network to those with less disposable funds, as it would hurt our community by ignoring people from countries with developing economies. Let's embrace the opportunity to have an impact on these communities by developing a viable alternative to FIAT money together.
DSTRA values its global community over quick profits.
Instead of distributing the initial coins to our friends or wealthy partners, we decided to give the power of the masternode back to the people. Everyone, without being discriminated by race, social class, color, national or ethnic origin, age, religion, disability, sex, sexual orientation and gender identity can join our community and help to develop this coin.
DSTRA will be distributed for free amongst our contributors and supporters based on their participation in the community. We hope you join us on Discord or on the web.
In this sense DSTRA truly builds upon Satoshi Nakamoto's vision4 of a peer to peer electronic currency, free from the constraints of any government body, capital restrictions, or need for sacrificing one’s privacy to store wealth or transfer it across the globe over a frictionless network.
DSTRA leverages the wisdom of its community of stakeholders to achieve this vision.
- Coin Ticker: DST
- Mining Algorithm: Scrypt - POS Only
- Total Coin Supply : 40,000,000
- Mining: POS > 60%
- Premine: 24,000,000 DST (60% of max supply)
- Dev Fund: 1,200,000 DST
- Marketing Fund: 2,400,000 DST
- Team Fund: 1,200,000 DST
- Fund Raising: 1,200,000 DST
- Airdrop Pool: 18,000,000 DST
- Allocated for Coin Swap: 3,500,000 DST
- Block Time : 64 seconds* (Can Vary)
- Block Size: 1MB
- Staking Minimum: > 0.00000001 DST
- Staking Age: 12 hours ~ ∞
- Release Date: April 03, 2018
- Masternode Collateral: TBA
Having a low transaction confirmation time is important. Users want to see their coins travel across the globe instantly. Since Masternodes scale in a linear way, our network has the potential to support many thousands of transactions per second.
Instead of performing useless computations to mine the next block, Masternodes use transaction locking and consensus5 to maximise the use of every watt of electricity to enhance the speed and security of the network. The result is a nearly instantaneous transaction system that does not rely on a centralized authority.
”Virtual Currencies may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system.” - Ben Bernanke6, Congress address.
DSTRA will challenge the status quo of big payment processors in the competitive market of online and offline transactions.
We believe in the original vision: a cryptocurrency should perform well for all use cases. We want it to be fast, user friendly, practical, and above all, carry a low transaction cost. We need to be able to do micro-payments of a cent and big payments all the same. A study from 20117 asserts that the cost and inconveniences associated with a payment method discourage its use in online transactions.
First generation blockchains have scaling issues, making them unsuitable for many small transactions.
Privacy, both financial and personal, is a key component of life in a free society. Individuals need to have a private sphere free of government involvement, surveillance, and control. Financial privacy is essential because it can be the difference between survival and systematic suppression of opposition groups by authoritarian governments.9
Financial privacy allows people to protect their life savings when a third party tries to confiscate their wealth, whether for political, ethnic, religious, or “merely” economic reasons. Businesses need to protect their private financial information, intellectual property, and trade secrets from competitors in order to remain profitable.
'Privacy is not something that I'm merely entitled to, it's an absolute prerequisite.' Marlon Brando
DSTRA vows to employ many modern, tested and verified techniques to respect the privacy of it's community members. By incentivizing Masternodes we provide an off-chain path for completely private transactions. Community members can also utilise coin mixing technology to further ensure the anonymity of their transactions.
<style> .align-left { float: left; margin-right: 1em; } .align-right { float: right; margin-left: 1em; } .align-middle { text-align: center; } </style>DSTRA aims to have as much users as possible, the airdrop mechanism is one of the ways we achieve this.
First, some theory: Metcalfe's law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system
The value of a network (ie. a blockchain) increases a lot with ervery single user that joins. If the value of a network increases, then the value of each individual coins increase. This was and is still very noticeable with bitcoin.
Suppose we did 20 airdrops, and had only a growth factor of 5% then we would end up with only 1.400 users, granted, they'd have a lot of coins. These would also be worthless. And would probably die a silent death.
On the other hand, if we have a growth of 25% we'd end up with over 36.000 active users, which would make us one of the more popular currencies.
If a lot of users join the airdrops, everyone will get less coins, but each coin will be worth much more in comparison.
We should do as many as needed to grow to a decent size. Give less when there's no new users, so our users find new and innovative ways to spread the word. Give more to reward our users if the community has grown substantially.
The only thing that limits us is the budget of 13.300.000 DSTRA. If they are gone, no more airdrops. That's why, we present the Community Size Airdrop Mechanism.
We are still working out the specific numbers but I can give you the general idea.
First of all, the first airdrop planned WHEN? will be 550.000 DISTRA in total. At that airdrop we will count the number of valid participants. To be a valid participant you need to register correctly (details will follow later) and you need to engage with the community.
For the second airdrop, things will be different, there will be no fixed amount to drop but an expected growth percentage and a bounty attached to that.
Let me give you a fictional example:
- Target Growth: 10% What's the target for growth at each airdrop?
- Target Amount: 500.000DSTRA If the community grows with the target growth (10% in this example): 500.000 DSTRA
- Min airdrop amount:100.000 DSTRA *If the community stays the same size or gets smaller. *
- Max airdrop amount:1.000.000 DSTRA *Supposed the community grows by 1000%, we don't want to airdrop everything at once. *
- Suppose There where 1000 users last airdrop
- Suppose For ease of math there is a total 10.000.000 to be airdropped over all airdrops.
- If we grow 0 %, every time we give away 100.000 and after 100 airdrop it's over and we'll have 1000 users, with a lot of low-value coins. It would be hard to get listed let alone at a decent exchange.
- If we grow 10 %, we give away 500.000 and if that happens every time (doubtful) we'll only do 20 drops and have 3,325,257 users :-).
- Should we grow by more than 23% (in this example) we limit the drop to 1.000.000.
And with a maximum limit of the max airdrop amount.
Many airdrops rounds, more time to get more users and find innovative ideas to increase the value of the coin.
Airdrops will be over sooner because they are much bigger, the value of the coin will increase more than enough to make up for the fact that we have to split them between a larger group of people.
We know from experience that it is very hard to set clear rules without people gaming them. This has been an issue in previous drops and will stay problematic.
People who read those rules will immediatly set a strategy to score as much points with as little effort. This is an econoomical and game theoretical reality. We don't want to invent too complex algoritms to do the airdrop as well. We think it's neccesary that people are able to understand the numbers.
We need total transparancy.
We also need to be agile and nimble. If we see an influx of users on discord and that seems to be the place for us, then we need to provide more weight and airdrop to the discord activities.
If we include other channels, that should also be possible. Also, if (for example) we see a lot of abuse by our users on the bitcointalk then we should be able do decide to remove that incentive from the airdrop.
Within channels, we are faced with similar questions: how does one measure forum participation? Is it the numer of comments? The number of words? Should there be a bonus for thread starters with many replies. Do 'likes' count? If so for how many stakes?
On top of that there's an accounting issue, how to tally all these efforts to a single document, how to link the efforts together, present the results and do the airdrop?
From previous drops we've noticed that many helpfull suggestions on airdrops were quite influenced by personal motives.
Admins do not participate in the airdrop. Their motives are alligned with the success of the coin. The goal is clear: to have as much users as possible.
Efforts towards that goal should be rewarded, cheating and gaming the system discouraged. Since it's a game, the admins will be neutral game masters, solely motivated by getting as much players as possible.
People who get others involved and share with the community will get rewarded. Admins will try to discourage gaming, to their best abilities.
We do offer full transparency after each airdrop. A report will be published with how we divided the shares amongst the channels. People will be able to look up their score and see how it was calculated, if the rules of calculation where changed since last drop it will be notated in the report. The users are free to give their comments on the report and suggestions for improvement in the ususal suggestion channels, they will be processed by the airdrop team before next airdrop.
The ability to update and tweak these rules every airdrop should result in a process which is as fair as possible.
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How will we deal with cheating?
- To qualify for an airdrop, you need effort. Some people might be concerned that fake accounts will be counted as a real one. Since there will be a ladder system for dividing the drop, this would be a detterent to the cheater. The extra effort he/she puts into this will not go to contributing to the community. Their multiple small shares will not be worth as much as the share of a single profile user with higher contribution to the community. The cake will get bigger (it appears) but the cheaters share will be smaller. Nevertheless, we will monitor for fraudulent behaviour.
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When will we know the amounts?
- At every airdrop the targets for the next will be announced.
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How will you calculate growth?
- We will compare the number of participants between the current airdrop and the last.
DSTRA is a new coin based on PoC and will be distributed in the first phase as a coin swap for previous F0ME holders. We have taken steps to ensure that the snapshot of the previous coins has been properly reviewed. This allows us to eliminate ALL of the previous F0ME developer’s wallets from participating in the swap and in future airdrops.
In the best interest of the whole community, the following rules have to be determined for the swap:
- F0ME coins in stocks.exchange WILL NOT BE INCLUDED in the swap.
- ALL wallets holding F0ME at the snapshot will be eligible for swap.
- StakingLabs will honor all account holders of F0ME and will work with DSTRA team to do the swap automatically.
- SNAPSHOT of F0ME WALLETS
o Block #48975 on 23rd Feb 2018 22:02:19 GMT
o Swap 1 F0ME = 0.75 DSTRA
o Please ensure to keep your wallet.dat for the swap - it will be required to perform this activity!
STAKING will commence immediately with Masternodes implementation planned within 3 months of the LAUNCH of AIRDROP.
DSTRA uses airdrops to award the commitment of members of the community.
An airdrop is a free deposit of funds in your wallet. The amount of free tokens you will receive in your wallet depends on your BitcoinTalk activity, your Discord level, DSTRA forum rank and your contribution to the DSTRA project.
This includes tweeting, sharing, writing articles, helping out on the forums or discord channel and the creation of documentation, translations and tutorials.
Feel free to make suggestions... come over and share your ideas.
A large community will drive our market penetration, increase adoption, and access to larger exchanges. DSTRA plans to be a long-term project and our initial launch will help set our trajectory now and into the future. Get out there and encourage others to get in on DSTRA’s “Proof of Community” mining! The only special equipment required is your keyboard and your brain. Use them both and be rewarded!
To reiterate, this airdrop is free of cost and open to everyone willing to join our community and participate in whichever way he/she deems appropriate.
Bitcoin is a power glutton. Thanks to the coin’s proof of work distributed consensus algorithm, miners use up an estimated 29.05TWh of electricity annually. That’s 0.13% of the world’s annual energy consumption, which is more than 159 countries including nearly all of Africa.
By introducing Proof of Stake we plan to lower our carbon emissions by 99% compared to traditional mining operations. Our community respects the environment and wants to leave this planet a nice place to live for our children and their children.
Proof of stake enables anyone, rich or otherwise, to accumulate wealth by just staking the coins in their wallet. To put it simply: if you leave your coins in your wallet, you will get more coins over time.
DSTRA’s third phase will begin with the launch of Masternodes (15.000 DSTRA collateral requirement) and a reduction of the PoS interest. Masternodes will receive 100% of the block reward, provide important privacy coin functionality, and secure the network by validating transactions.
People willing to invest in the network can run a Masternode and contribute to securing the network by processing transactions.
Masternodes require 15.000 DSTRA as collateral to prevent Sybil attacks. That collateral can be spent at any time, but doing so removes the associated Masternode from the network.
Masternodes will be able at a future time to vote on proposals to improve the network.
Installing and operating these Masternodes is doable by moderately tech savvy users without investing in expensive hardware that depreciates in value very quickly. We see this as an optimum way to distribute the infrastructure of the network to as many people as possible.
DSTRA coin has one primary focus, and that is as a store of value, and that requires focus on fungibility, security, privacy, efficiency, low inflation, extreme decentralization and built-in lucrative opportunities incentivizing growth, which allow for participation in the network.
The expected use case is for those want want to store value securely for a long term, those who love the idea of bitcoin, but feel it is limited by constraints that will eventually inhibit its true potential. The DSTRA Network will allow anyone to be able to store value securely over time.
The coin can also be used as a very fast, very capable transaction and payments layer, with much larger transaction capacity and much faster speed than Bitcoin, Bitcoin Cash, or Litecoin, with lower fees of only 0.00001DST.
Development on DSTRA Coin and the DSTRA Network is supported by almost all current software that supports bitcoin integration, simply by changing a few parameters. Develop new software on top of the DSTRA Network as easily as Bitcoin!
DSTRA is engineered financial growth and sustainability.
- Website: https://dstra.io/
- Forum: https://forum.dstra.io/
- Twitter: https://twitter.com/dstra_io
- Facebook: https://www.facebook.com/dstra.io/
- Discord: https://discord.gg/FjdgTjs
- Telegram: https://t.me/dstraio
At the moment this is our roadmap:
- Social Media presence rollout
- Launching the coin
- Launching the DSTRA Forum / Website
- Blockchain Explorer
- First Airdrop - January 24th, 2018
- Last Airdrop - May 9th, 2018
- Initial Bounty Campaign
- DSTRA Captcha Faucet
- Exchange Listings
- Web Wallet
- Mobile Wallets
- Formal Whitepaper and Translations
- Masternode Launch
Footnotes
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Mary J. Benner and Michael Tushman. "Process Management and Technological Innovation: A Longitudinal Study of the Photography and Paint Industries", First Published December 1, 2002 ↩
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"Occupy Wall Street' Protests Give Voice to Anger Over Greed, Corporate Culture." PBS.com. PBS, 5 Oct. 2011. Web. 22 Apr. 2013. ↩
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Bitcoin Magazine. "SEC and CFTC Give Testimonies at Senate Hearing on Virtual Currencies ↩
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Satoshi Nakamoto. "Bitcoin: A Peer-to-Peer Electronic Cash System", published October 31st, 2008. ↩
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E. Duffield, H. Schinzel and F Gutierrez. "Transaction Locking and Masternode Consensus: A Mechanism for Mitigating Double Spending Attacks" , published September 22nd, 2014 ↩
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Ben Bernanke. "Letter to Congress" ↩
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Haizheng Li, Richard Ward, Han Zhang. "Risk, Convenience, Cost and Online Payment Choice: A Study of eBay Transactions", October 2011. ↩
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Source: https://bitinfocharts.com/comparison/bitcoin-transactionfees.html ↩
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David Burton and Norbert J. Michel. "Financial Privacy in a Free Society", September 23, 2016. ↩
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Carl Shapiro and Hal R. Varian (1999). Information Rules. Harvard Business Press. ISBN 0-87584-863-X. ↩
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Simeon Simeonov (July 26, 2006). "Metcalfe's Law: more misunderstood than wrong?". HighContrast: Innovation & venture capital in the post-broadband era. ↩
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James Hendler and Jennifer Golbeck (2008). "Metcalfe's Law, Web 2.0, and the Semantic Web" (PDF). ↩