Koinos Unified Whitepaper: The evolving blockchain with free-to-use dApps and proof-of-burn decentralization | by Andrew Levine | Koinos Group | July 2022 | Medium

Koinos Unified Whitepaper: The evolving blockchain with free-to-use dApps and proof-of-burn decentralization |  by Andrew Levine |  Koinos Group |  July 2022 |  Medium
Koinos Unified Whitepaper: The evolving blockchain with free-to-use dApps and proof-of-burn decentralization |  by Andrew Levine |  Koinos Group |  July 2022 |  Medium

We are proud to announce the release of Koino’s Unified Whitepaper! This white paper explains how proof-of-burn, Mana and the infinitely upgradable Koino blockchain framework combine to create the most accessible L1 ever!

Read whitepaper / Download pdf

After leaving Steemit, our goal was to build a company that would allow developers to build dApps like Steem and Hive, but on a truly decentralized and royalty-free blockchain. But when we analyzed the various available blockchains, we found that none had the features we needed. The “fee-free” blockchains were not really duty-free, requiring users to pay for RAM and / or accounts. Nor were they really decentralized as a result of their launch (ICOs) or their consensus algorithm, and often both.

Ultimately, we not only wanted to support the kind of royalty-free dApps that already existed, we wanted to take blockchain accessibility to the extreme by enabling, for the first time ever, free to use dApps which will require not only free transactions, but free accounts, free smart contract execution and network resource delegation. Delivering these properties required building a whole new blockchain from scratch.

Read whitepaper / Download pdf

We started by publishing white paper for Koino’s blockchain framework; the first blockchain that can development. The Koinos framework will act as the evolving “backbone” at the heart of the mainnet that will enable it to improve at a faster pace than any other blockchain out there. The same feature enabled the test network to evolve, and we eventually released several whitepapers to describe how it became more advanced. These whitepapers (framework, mana, proof-of-burn) addressed each component as if they were in a vacuum, but their whole purpose is to drive the most accessible blockchain ever: Koino’s core network.

See also  Everything you need to know about Helium, the blockchain hotspot network

This white paper not only unites all the previous white papers, it describes how they all work together to create a general blockchain that is more than just another Ethereum competitor; it is the first real option to Ethereum. While everyone else is trying to offer something like Ethereum, but with slightly lower fees or slightly faster, Koinos delivers something that is more than fee-free; it is free to use, efficient and really decentralized.

Read whitepaper / Download pdf

We would like to acknowledge the outstanding contributions of community members who have helped to make Koinos already more decentralized than most people are probably aware of. In addition to creating the Kondor online wallet and providing valuable feedback through the development of Koinos, Julian Gonzalez also provided insightful feedback on the unified white paper published today. Support Julian on GitHub!

After reading our original proof-of-burn whitepaper, Luke Willis proposed the idea of ‚Äč‚Äčeliminating NFT miners and instead using fungible tokens to quantify how much virtual hash power a user had acquired through token burns; the design discussed in this white paper. Subscribe to Luke’s amazing podcast and sign up for his insightful newsletter!

Of course, no community recognition would be complete without mentioning Roamin who developed the AssemblyScript SDK which not only makes free smart contract development available to JavaScript and TypeScript developers, it is now used by the Koinos Group to implement system contracts such as management contract and proof-of-burn. Because these contracts are so widely used by the blockchain, the much smaller size of the files generated by the AssemblyScript SDK dramatically increases the performance of the blockchain. Support Roamin on GitHub!

See also  COSMETA announces plans to bring first-time HR services into Blockchain and Metaverse

Koinos have already evolved into something that far exceeds our original expectations. We hope this white paper captures why we are so excited to complete mainnet development and see Koinos come to life. We hope you enjoy reading it!

Read whitepaper / Download pdf

LOAD
. . . comments & more!

Leave a Reply

Your email address will not be published.