What is Taraxa (TARA) | What is Taraxa token | What is TARA token

What is Taraxa?

Taraxa is a purpose-built, fast, scalable, and device-friendly public ledger designed to help businesses make better and more responsive decisions.

Why build Taraxa?

It is our firm belief that technologies are meant to solve real world problems, and cannot be developed in isolation. The applications we build, will build, and will enable our community to build, will (and do) have concrete functionality implications to how the public ledger infrastructural layer is designed and implemented. To this end, the application and the ledger need to be tightly coupled to create the most optimized outcomes.

This is why we created Taraxa, a purpose-built public ledger to enable us to specifically solve challenges caused by friction in business coordination & decision-making processes.

Economics

Note: this is a preliminary outline of the overall intent for the Taraxa network’s economics. These designs will be finalized at network launch via the governance process by stakeholders from the community, and they are subject to alterations via the same process.

The native digital cryptographically-secured utility token of Taraxa (Taraxa token) is a transferable representation of attributed functions specified in the protocol/code of Taraxa, which is designed to play a major role in the functioning of the ecosystem on Taraxa and intended to be used solely as the primary utility token on the network.

Taraxa token is a non-refundable functional utility token which will be used as the medium of exchange between participants on Taraxa. The goal of introducing Taraxa token is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on Taraxa, and it is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. Taraxa token does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will Taraxa token entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. Taraxa token may only be utilized on Taraxa, and ownership of Taraxa token carries no rights, express or implied, other than the right to use Taraxa token as a means to enable usage of and interaction within Taraxa.

Taraxa token would also provide the economic incentives which will be distributed to encourage users to contribute and maintain the ecosystem on Taraxa, thereby creating a win-win system where every participant is fairly compensated for its efforts. Taraxa token is an integral and indispensable part of Taraxa, because without Taraxa token, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on Taraxa. Given that additional Taraxa token will be awarded to a user based only on its actual usage, activity and contribution on Taraxa, users of Taraxa and/or holders of Taraxa token which did not actively participate will not receive any Taraxa token incentives.

Token Supply

The overall Taraxa token supply is 10 billion tokens, with all tokens minted in the genesis block at network launch.

There will be inflation (see the section on Rewards) which comes in the form of block rewards providing staking yield, but will only inflate upon stakes that are in and meant for circulation - i.e., any network stakes held by the Foundation will not receive any such yield and thereby no inflation.

This means that whatever the Foundation holds to help secure the network will be a constantly diminishing portion of the overall token supply, over time minimizing any centralizing effect this may have on the network.

Token Distribution

The target tokens distribution will be as follows,
Private sales: 24.1%
Community: 40.9%
Team: 15%
Foundation: 20%

  • Private sales took place and has ended in 2018.
  • Community refers to a collection of tokens reserved to ensure the ongoing health and sustainability of the Taraxa ecosystem, including funding for development grants, bug bounties, driving application adoption, and raising awareness
  • Taraxa’s founding team members are committed to the long-term success of the network and will hold their token allocations for an extended period.
  • The Foundation intends to keep a certain number of tokens to continue contributing to the Taraxa ecosystem and to participate in the decentralized network operations.

Token Utility

Transaction Fees

Taraxa token holders may use the token to initiate and pay for the cost of processing transactions, and these transaction fees are paid to the validators of the network. More on transaction fees in the Rewards section.

Validator Eligibility

Taraxa token holders may choose to stake their tokens via bonding to become an eligible validator of the network, responsible for processing the network’s transactions and maintaining the network’s overall security and integrity. As an indication of commitment to the system and service standard assurance, users would be required to place an amount of Taraxa token as security deposit before it may participate in mining for the benefit of the network.

To become a validator, a fixed number of Taraxa tokens will need to be staked. Since the total token supply in the network is fixed, the maximum number of validators is also fixed. These rules will be set at network launch and are subject to change per stakeholders’ voting.

Staking

Staking is a mechanism for stakeholders to signal their commitment to help maintain and grow the Taraxa network, and they are rewarded (see Rewards section) accordingly. To stake, the stakeholder needs to bond Taraxa tokens for a period, in return gaining additional weight in voting in governance-related decisions and become eligible to participate in the Taraxa network’s consensus process and earning rewards. Staking Period

For simplicity, the staking period will be based on a fixed timeframe to be determined at network launch. The actual timeframe (as all time-related metrics) are governed by the number of Periods elapsed on the Taraxa network.

At network launch there may a special set of launch nodes that have a longer staking period with greater rewards. Details are to be determined. Staking via Bonding

Bonding of Taraxa tokens is needed in staking in order to provide stable expectations for eligibility. To bond a token is to lock a token into a fixed period of time (as determined by the number of Periods on chain), during which the bonded token is not tradeable or usable – besides granting the privileges in validation eligibility and access to current state storage on the network. Stake Delegation

Not everyone who wishes to help secure the Taraxa network wishes to deal with the actual operational details of running a node. These stakeholders can choose to bond their stake and then delegate it to another entity to operate a node on its behalf. How the proceeds from the stake are divide may be negotiated between the stakeholder and the node operator, via secondary smart contracts on the Taraxa network. Stake Alterations

When a stakeholder wishes to bond or withdraw (at the end of the staking period) his / her stake, there is a buffer period (e.g., a few days) before such changes take effect. Since the staking amount is fixed, fractional stake alterations aren’t possible. The reasoning behind this buffer period is two-fold.

The first consideration is security. Because staking endows critical privileges on the network, namely the right to validate transactions, it is critical that the network has full understanding for eligibility. The network and the community need to be given ample time to note any such changes and be confident in their determination of any changes in eligibility resulting from the staking alterations.

The second consideration is economic. When large quantities of tokens are either added or removed from the staking pool, it could have an impact on the secondary markets for both the tokens themselves as well as the storage rentals (i.e., those with bonded stakes could rent out the storage they’re entitled to DApp developers). Having a buffer period will give the community ample notice to react to the change.

Target Staking Rate

The network will have a target staking rate the entire token supply to be determined at network launch. This is the “desired” number of tokens in the overall supply that is locked into stake, leaving the remaining tokens used for fees on the network. Having a target staking rate is meant to encourage the community to stake their coins and help secure the network.

The target staking rate is tentatively set at 67%, which if reached will deny the 1/3 attack vector.

Rewards

Rewards in Taraxa are made up of block rewards and transaction fees.

Block Rewards

Block rewards (Taraxa tokens) will be distributed to incentivize stakeholders to help secure the network by participating in validation by driving up the overall network’s staking rate. Computational resources are required for validation and verification of blockchain information, so providers of these services / resources would require payment for the consumption of these resources to maintain network security, and Taraxa token will be used as the network currency to quantify and pay the costs of the consumed computational resources. This is especially important in the early days of the network where distributed fees may not be sufficient to attract node operators to secure the network.

Block rewards come in the form of inflation on top of the staked tokens. Since only nodes with sufficient staking or have received sufficient delegated stake are eligible to produce blocks, the amount of block rewards can be thought of as a direct yield which will be added to the total staked token supply.

To incentivize the community to reach the target staking rate, the yield will be progressively increasing until it peaks at the target rate, then falls down as the network exceeds the target rate.

We tentatively set the maximum staking yield to be 20%.

Block rewards are dispersed to staked validators the successful completion of these activities,

  • Proposing valid blocks in the Block DAG
  • Proposing valid consensus blocks on the PBFT chain

Transaction Fees

Taraxa will make use of the same first-price auction mechanism currently being used in BTC, ETH, and almost all other blockchain systems.

The primary criticism against the fees in classic systems such as BTC and ETH are that, they are 1) too high, and 2) too volatile. However, these symptoms are primarily driven not by the pricing mechanism itself, but rather by the throughput limitations of these networks. To put it simply, if the system is not at its maximum throughput limit, the block proposer has no incentive to prioritize between which pending transactions to include in a block – they’d simply place all available (and eligible) pending transactions into the next block.

As a sidebar, this isn’t entirely true in practice, as the network propagation speed consideration during competitive mining could adversely impact inclusion as well. In the Taraxa network however, there is no competition between the staking nodes so this adverse incentive should not exist.

Because of the very low maximum throughput in systems such as BTC and ETH, these networks are almost always operating at their maximum throughput, forcing users into constantly paying premiums to be included in blocks earlier, driving up both fee prices as well as fee volatility. In a far higher-throughput system such as Taraxa, we expect this to be far less of a consideration.

Just like block rewards, fees are going to be dispersed to staked validators for the successful completion of same activities,

  • Proposing valid blocks in the Block DAG
  • Proposing valid consensus blocks on the PBFT chain

No Slashing

Taraxa will not implement a slashing or punishment mechanisms at this moment.

It is incredibly difficult to design economic incentive schemes that properly motivate players in a system to behave in ways that are deemed constructive. As a rule, such mechanisms need to be as simple as possible, as more complexity creates more opportunities to game these mechanisms.

Reward mechanisms are already difficult to design and get “right”, punishment mechanisms are even harder, as a faulty punishment mechanism generating false positives is far more likely to incite a backlash and inject vitriol into the ecosystem.

At this point in time, we believe the lack of a reward should be sufficient “punishment” without the need to add further complexity.

Governance

For the Taraxa network to remain healthy and viable in the long-term, it must be adaptable and responsive to the network stakeholders’ demands over time. To that end we propose the following governance model, and welcome feedback from the broader community. For the avoidance of doubt, the right to vote does not entitle Taraxa token holders to vote on the operation and management of the Foundation, its affiliates, or their assets, and does not constitute any equity interest in any of these entities.

Council

Since voter turnout is a persistent problem in almost all electoral systems – including decentralized ecosystems – a council will be elected to represent the interests of passive stakeholders in the Taraxa network. These Council Members may determine features and/or parameters of Taraxa as well as protocol improvements and new product development, or even changes to the governance process itself.

The size of the council will increase as the network size increases. The size of the council will be determined at network launch, starting with a relatively smaller number and then scaling upward as the network matures.

Councils’ Purview

The council will vote on decisions that impact all aspects of the Taraxa network, including anything from code upgrades to adjustments to the reward mechanism. These changes will eventually be encoded into each node’s codebase that will automatically enact approved decisions.

Council Election

The council will be elected via a single transferable vote (STV) system, with the number of votes determined by the number of Taraxa tokens held by each voter with a bonding time modifier (see below). This is a widely used voting system to achieve proportional representation through ranked voting for multi-seat organizations. Here’s a simple description of the STV system with a Droop quota.

Premises

  • N seats are available
  • V valid votes are cast
  • T is the minimum threshold of votes necessary to win any given seat, with T = ceil (valid votes cast / (seats to fill + 1))

Voting steps

  1. Council candidates nominate themselves
  2. Stakeholders cast their votes for their most preferred N candidates ranking from most to least preferred
  3. Starting from all stakeholders’ first choice votes
  4. Any candidate receiving votes greater than T is elected into the council
  5. The elected candidates’ received votes in excess of T are transferred to those voter’s next choice
  6. If no candidate receives votes in excess of T, eliminate the candidate with the least number of votes and transfer those votes to the voter’s next preferred candidate
  7. Repeat steps 4-6 until we have either elected a candidate for every seat, or the number of remaining seats equal to the number of remaining candidates – in which case those remaining candidates are elected

Council Member Terms

Each council member has a term of approximately 12 weeks. In actual implementation, the term will be determined by counting the number of periods that have elapsed. As the network grows and council expands, we will try to stagger the terms to make sure only a portion of the council members are up for reelection at any given election cycle.

Proposals Any users holding Taraxa tokens may make proposals, but for a proposal to be heard by the council, it needs to reach at least a minimum percentage (to be determined at network launch) of the entire Taraxa token supply.

Governance

For the Taraxa network to remain healthy and viable in the long-term, it must be adaptable and responsive to the network stakeholders’ demands over time. To that end we propose the following governance model, and welcome feedback from the broader community. For the avoidance of doubt, the right to vote does not entitle Taraxa token holders to vote on the operation and management of the Foundation, its affiliates, or their assets, and does not constitute any equity interest in any of these entities.

Council

Since voter turnout is a persistent problem in almost all electoral systems – including decentralized ecosystems – a council will be elected to represent the interests of passive stakeholders in the Taraxa network. These Council Members may determine features and/or parameters of Taraxa as well as protocol improvements and new product development, or even changes to the governance process itself.

The size of the council will increase as the network size increases. The size of the council will be determined at network launch, starting with a relatively smaller number and then scaling upward as the network matures.

Councils’ Purview

The council will vote on decisions that impact all aspects of the Taraxa network, including anything from code upgrades to adjustments to the reward mechanism. These changes will eventually be encoded into each node’s codebase that will automatically enact approved decisions.

Council Election

The council will be elected via a single transferable vote (STV) system, with the number of votes determined by the number of Taraxa tokens held by each voter with a bonding time modifier (see below). This is a widely used voting system to achieve proportional representation through ranked voting for multi-seat organizations. Here’s a simple description of the STV system with a Droop quota.

Premises

  • N seats are available
  • V valid votes are cast
  • T is the minimum threshold of votes necessary to win any given seat, with T = ceil (valid votes cast / (seats to fill + 1))

Voting steps

  1. Council candidates nominate themselves
  2. Stakeholders cast their votes for their most preferred N candidates ranking from most to least preferred
  3. Starting from all stakeholders’ first choice votes
  4. Any candidate receiving votes greater than T is elected into the council
  5. The elected candidates’ received votes in excess of T are transferred to those voter’s next choice
  6. If no candidate receives votes in excess of T, eliminate the candidate with the least number of votes and transfer those votes to the voter’s next preferred candidate
  7. Repeat steps 4-6 until we have either elected a candidate for every seat, or the number of remaining seats equal to the number of remaining candidates – in which case those remaining candidates are elected

Council Member Terms

Each council member has a term of approximately 12 weeks. In actual implementation, the term will be determined by counting the number of periods that have elapsed. As the network grows and council expands, we will try to stagger the terms to make sure only a portion of the council members are up for reelection at any given election cycle.

Proposals Any users holding Taraxa tokens may make proposals, but for a proposal to be heard by the council, it needs to reach at least a minimum percentage (to be determined at network launch) of the entire Taraxa token supply.

Would you like to earn TOKEN right now! ☞ CLICK HERE

How and Where to Buy Taraxa (TARA)?

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

After the deposit is confirmed you may then purchase TARA from the: https://www.taraxa.io

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once TARA gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money
https://www.binance.com
https://www.bittrex.com
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Find more information TARA

WebsiteExplorerSource CodeSocial ChannelSocial Channel 2Social Channel 3Coinmarketcap

🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds

Learn about Cryptocurrency in this article ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner

I hope this post will help you. If you liked this, please sharing it with others. Thank you!

#blockchain #bitcoin #taraxa #tara

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What is Taraxa (TARA) | What is Taraxa token | What is TARA token

What is Taraxa (TARA) | What is Taraxa token | What is TARA token

What is Taraxa?

Taraxa is a purpose-built, fast, scalable, and device-friendly public ledger designed to help businesses make better and more responsive decisions.

Why build Taraxa?

It is our firm belief that technologies are meant to solve real world problems, and cannot be developed in isolation. The applications we build, will build, and will enable our community to build, will (and do) have concrete functionality implications to how the public ledger infrastructural layer is designed and implemented. To this end, the application and the ledger need to be tightly coupled to create the most optimized outcomes.

This is why we created Taraxa, a purpose-built public ledger to enable us to specifically solve challenges caused by friction in business coordination & decision-making processes.

Economics

Note: this is a preliminary outline of the overall intent for the Taraxa network’s economics. These designs will be finalized at network launch via the governance process by stakeholders from the community, and they are subject to alterations via the same process.

The native digital cryptographically-secured utility token of Taraxa (Taraxa token) is a transferable representation of attributed functions specified in the protocol/code of Taraxa, which is designed to play a major role in the functioning of the ecosystem on Taraxa and intended to be used solely as the primary utility token on the network.

Taraxa token is a non-refundable functional utility token which will be used as the medium of exchange between participants on Taraxa. The goal of introducing Taraxa token is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on Taraxa, and it is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. Taraxa token does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will Taraxa token entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any relevant jurisdiction. Taraxa token may only be utilized on Taraxa, and ownership of Taraxa token carries no rights, express or implied, other than the right to use Taraxa token as a means to enable usage of and interaction within Taraxa.

Taraxa token would also provide the economic incentives which will be distributed to encourage users to contribute and maintain the ecosystem on Taraxa, thereby creating a win-win system where every participant is fairly compensated for its efforts. Taraxa token is an integral and indispensable part of Taraxa, because without Taraxa token, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on Taraxa. Given that additional Taraxa token will be awarded to a user based only on its actual usage, activity and contribution on Taraxa, users of Taraxa and/or holders of Taraxa token which did not actively participate will not receive any Taraxa token incentives.

Token Supply

The overall Taraxa token supply is 10 billion tokens, with all tokens minted in the genesis block at network launch.

There will be inflation (see the section on Rewards) which comes in the form of block rewards providing staking yield, but will only inflate upon stakes that are in and meant for circulation - i.e., any network stakes held by the Foundation will not receive any such yield and thereby no inflation.

This means that whatever the Foundation holds to help secure the network will be a constantly diminishing portion of the overall token supply, over time minimizing any centralizing effect this may have on the network.

Token Distribution

The target tokens distribution will be as follows,
Private sales: 24.1%
Community: 40.9%
Team: 15%
Foundation: 20%

  • Private sales took place and has ended in 2018.
  • Community refers to a collection of tokens reserved to ensure the ongoing health and sustainability of the Taraxa ecosystem, including funding for development grants, bug bounties, driving application adoption, and raising awareness
  • Taraxa’s founding team members are committed to the long-term success of the network and will hold their token allocations for an extended period.
  • The Foundation intends to keep a certain number of tokens to continue contributing to the Taraxa ecosystem and to participate in the decentralized network operations.

Token Utility

Transaction Fees

Taraxa token holders may use the token to initiate and pay for the cost of processing transactions, and these transaction fees are paid to the validators of the network. More on transaction fees in the Rewards section.

Validator Eligibility

Taraxa token holders may choose to stake their tokens via bonding to become an eligible validator of the network, responsible for processing the network’s transactions and maintaining the network’s overall security and integrity. As an indication of commitment to the system and service standard assurance, users would be required to place an amount of Taraxa token as security deposit before it may participate in mining for the benefit of the network.

To become a validator, a fixed number of Taraxa tokens will need to be staked. Since the total token supply in the network is fixed, the maximum number of validators is also fixed. These rules will be set at network launch and are subject to change per stakeholders’ voting.

Staking

Staking is a mechanism for stakeholders to signal their commitment to help maintain and grow the Taraxa network, and they are rewarded (see Rewards section) accordingly. To stake, the stakeholder needs to bond Taraxa tokens for a period, in return gaining additional weight in voting in governance-related decisions and become eligible to participate in the Taraxa network’s consensus process and earning rewards. Staking Period

For simplicity, the staking period will be based on a fixed timeframe to be determined at network launch. The actual timeframe (as all time-related metrics) are governed by the number of Periods elapsed on the Taraxa network.

At network launch there may a special set of launch nodes that have a longer staking period with greater rewards. Details are to be determined. Staking via Bonding

Bonding of Taraxa tokens is needed in staking in order to provide stable expectations for eligibility. To bond a token is to lock a token into a fixed period of time (as determined by the number of Periods on chain), during which the bonded token is not tradeable or usable – besides granting the privileges in validation eligibility and access to current state storage on the network. Stake Delegation

Not everyone who wishes to help secure the Taraxa network wishes to deal with the actual operational details of running a node. These stakeholders can choose to bond their stake and then delegate it to another entity to operate a node on its behalf. How the proceeds from the stake are divide may be negotiated between the stakeholder and the node operator, via secondary smart contracts on the Taraxa network. Stake Alterations

When a stakeholder wishes to bond or withdraw (at the end of the staking period) his / her stake, there is a buffer period (e.g., a few days) before such changes take effect. Since the staking amount is fixed, fractional stake alterations aren’t possible. The reasoning behind this buffer period is two-fold.

The first consideration is security. Because staking endows critical privileges on the network, namely the right to validate transactions, it is critical that the network has full understanding for eligibility. The network and the community need to be given ample time to note any such changes and be confident in their determination of any changes in eligibility resulting from the staking alterations.

The second consideration is economic. When large quantities of tokens are either added or removed from the staking pool, it could have an impact on the secondary markets for both the tokens themselves as well as the storage rentals (i.e., those with bonded stakes could rent out the storage they’re entitled to DApp developers). Having a buffer period will give the community ample notice to react to the change.

Target Staking Rate

The network will have a target staking rate the entire token supply to be determined at network launch. This is the “desired” number of tokens in the overall supply that is locked into stake, leaving the remaining tokens used for fees on the network. Having a target staking rate is meant to encourage the community to stake their coins and help secure the network.

The target staking rate is tentatively set at 67%, which if reached will deny the 1/3 attack vector.

Rewards

Rewards in Taraxa are made up of block rewards and transaction fees.

Block Rewards

Block rewards (Taraxa tokens) will be distributed to incentivize stakeholders to help secure the network by participating in validation by driving up the overall network’s staking rate. Computational resources are required for validation and verification of blockchain information, so providers of these services / resources would require payment for the consumption of these resources to maintain network security, and Taraxa token will be used as the network currency to quantify and pay the costs of the consumed computational resources. This is especially important in the early days of the network where distributed fees may not be sufficient to attract node operators to secure the network.

Block rewards come in the form of inflation on top of the staked tokens. Since only nodes with sufficient staking or have received sufficient delegated stake are eligible to produce blocks, the amount of block rewards can be thought of as a direct yield which will be added to the total staked token supply.

To incentivize the community to reach the target staking rate, the yield will be progressively increasing until it peaks at the target rate, then falls down as the network exceeds the target rate.

We tentatively set the maximum staking yield to be 20%.

Block rewards are dispersed to staked validators the successful completion of these activities,

  • Proposing valid blocks in the Block DAG
  • Proposing valid consensus blocks on the PBFT chain

Transaction Fees

Taraxa will make use of the same first-price auction mechanism currently being used in BTC, ETH, and almost all other blockchain systems.

The primary criticism against the fees in classic systems such as BTC and ETH are that, they are 1) too high, and 2) too volatile. However, these symptoms are primarily driven not by the pricing mechanism itself, but rather by the throughput limitations of these networks. To put it simply, if the system is not at its maximum throughput limit, the block proposer has no incentive to prioritize between which pending transactions to include in a block – they’d simply place all available (and eligible) pending transactions into the next block.

As a sidebar, this isn’t entirely true in practice, as the network propagation speed consideration during competitive mining could adversely impact inclusion as well. In the Taraxa network however, there is no competition between the staking nodes so this adverse incentive should not exist.

Because of the very low maximum throughput in systems such as BTC and ETH, these networks are almost always operating at their maximum throughput, forcing users into constantly paying premiums to be included in blocks earlier, driving up both fee prices as well as fee volatility. In a far higher-throughput system such as Taraxa, we expect this to be far less of a consideration.

Just like block rewards, fees are going to be dispersed to staked validators for the successful completion of same activities,

  • Proposing valid blocks in the Block DAG
  • Proposing valid consensus blocks on the PBFT chain

No Slashing

Taraxa will not implement a slashing or punishment mechanisms at this moment.

It is incredibly difficult to design economic incentive schemes that properly motivate players in a system to behave in ways that are deemed constructive. As a rule, such mechanisms need to be as simple as possible, as more complexity creates more opportunities to game these mechanisms.

Reward mechanisms are already difficult to design and get “right”, punishment mechanisms are even harder, as a faulty punishment mechanism generating false positives is far more likely to incite a backlash and inject vitriol into the ecosystem.

At this point in time, we believe the lack of a reward should be sufficient “punishment” without the need to add further complexity.

Governance

For the Taraxa network to remain healthy and viable in the long-term, it must be adaptable and responsive to the network stakeholders’ demands over time. To that end we propose the following governance model, and welcome feedback from the broader community. For the avoidance of doubt, the right to vote does not entitle Taraxa token holders to vote on the operation and management of the Foundation, its affiliates, or their assets, and does not constitute any equity interest in any of these entities.

Council

Since voter turnout is a persistent problem in almost all electoral systems – including decentralized ecosystems – a council will be elected to represent the interests of passive stakeholders in the Taraxa network. These Council Members may determine features and/or parameters of Taraxa as well as protocol improvements and new product development, or even changes to the governance process itself.

The size of the council will increase as the network size increases. The size of the council will be determined at network launch, starting with a relatively smaller number and then scaling upward as the network matures.

Councils’ Purview

The council will vote on decisions that impact all aspects of the Taraxa network, including anything from code upgrades to adjustments to the reward mechanism. These changes will eventually be encoded into each node’s codebase that will automatically enact approved decisions.

Council Election

The council will be elected via a single transferable vote (STV) system, with the number of votes determined by the number of Taraxa tokens held by each voter with a bonding time modifier (see below). This is a widely used voting system to achieve proportional representation through ranked voting for multi-seat organizations. Here’s a simple description of the STV system with a Droop quota.

Premises

  • N seats are available
  • V valid votes are cast
  • T is the minimum threshold of votes necessary to win any given seat, with T = ceil (valid votes cast / (seats to fill + 1))

Voting steps

  1. Council candidates nominate themselves
  2. Stakeholders cast their votes for their most preferred N candidates ranking from most to least preferred
  3. Starting from all stakeholders’ first choice votes
  4. Any candidate receiving votes greater than T is elected into the council
  5. The elected candidates’ received votes in excess of T are transferred to those voter’s next choice
  6. If no candidate receives votes in excess of T, eliminate the candidate with the least number of votes and transfer those votes to the voter’s next preferred candidate
  7. Repeat steps 4-6 until we have either elected a candidate for every seat, or the number of remaining seats equal to the number of remaining candidates – in which case those remaining candidates are elected

Council Member Terms

Each council member has a term of approximately 12 weeks. In actual implementation, the term will be determined by counting the number of periods that have elapsed. As the network grows and council expands, we will try to stagger the terms to make sure only a portion of the council members are up for reelection at any given election cycle.

Proposals Any users holding Taraxa tokens may make proposals, but for a proposal to be heard by the council, it needs to reach at least a minimum percentage (to be determined at network launch) of the entire Taraxa token supply.

Governance

For the Taraxa network to remain healthy and viable in the long-term, it must be adaptable and responsive to the network stakeholders’ demands over time. To that end we propose the following governance model, and welcome feedback from the broader community. For the avoidance of doubt, the right to vote does not entitle Taraxa token holders to vote on the operation and management of the Foundation, its affiliates, or their assets, and does not constitute any equity interest in any of these entities.

Council

Since voter turnout is a persistent problem in almost all electoral systems – including decentralized ecosystems – a council will be elected to represent the interests of passive stakeholders in the Taraxa network. These Council Members may determine features and/or parameters of Taraxa as well as protocol improvements and new product development, or even changes to the governance process itself.

The size of the council will increase as the network size increases. The size of the council will be determined at network launch, starting with a relatively smaller number and then scaling upward as the network matures.

Councils’ Purview

The council will vote on decisions that impact all aspects of the Taraxa network, including anything from code upgrades to adjustments to the reward mechanism. These changes will eventually be encoded into each node’s codebase that will automatically enact approved decisions.

Council Election

The council will be elected via a single transferable vote (STV) system, with the number of votes determined by the number of Taraxa tokens held by each voter with a bonding time modifier (see below). This is a widely used voting system to achieve proportional representation through ranked voting for multi-seat organizations. Here’s a simple description of the STV system with a Droop quota.

Premises

  • N seats are available
  • V valid votes are cast
  • T is the minimum threshold of votes necessary to win any given seat, with T = ceil (valid votes cast / (seats to fill + 1))

Voting steps

  1. Council candidates nominate themselves
  2. Stakeholders cast their votes for their most preferred N candidates ranking from most to least preferred
  3. Starting from all stakeholders’ first choice votes
  4. Any candidate receiving votes greater than T is elected into the council
  5. The elected candidates’ received votes in excess of T are transferred to those voter’s next choice
  6. If no candidate receives votes in excess of T, eliminate the candidate with the least number of votes and transfer those votes to the voter’s next preferred candidate
  7. Repeat steps 4-6 until we have either elected a candidate for every seat, or the number of remaining seats equal to the number of remaining candidates – in which case those remaining candidates are elected

Council Member Terms

Each council member has a term of approximately 12 weeks. In actual implementation, the term will be determined by counting the number of periods that have elapsed. As the network grows and council expands, we will try to stagger the terms to make sure only a portion of the council members are up for reelection at any given election cycle.

Proposals Any users holding Taraxa tokens may make proposals, but for a proposal to be heard by the council, it needs to reach at least a minimum percentage (to be determined at network launch) of the entire Taraxa token supply.

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How and Where to Buy Taraxa (TARA)?

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

After the deposit is confirmed you may then purchase TARA from the: https://www.taraxa.io

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once TARA gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

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Find more information TARA

WebsiteExplorerSource CodeSocial ChannelSocial Channel 2Social Channel 3Coinmarketcap

🔺DISCLAIMER: Trading Cryptocurrency is VERY risky. Make sure that you understand these risks if you are a beginner. The Information in the post is my OPINION and not financial advice. You are responsible for what you do with your funds

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aaron silva

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SafeMoon Clone | Create A DeFi Token Like SafeMoon | DeFi token like SafeMoon

SafeMoon is a decentralized finance (DeFi) token. This token consists of RFI tokenomics and auto-liquidity generating protocol. A DeFi token like SafeMoon has reached the mainstream standards under the Binance Smart Chain. Its success and popularity have been immense, thus, making the majority of the business firms adopt this style of cryptocurrency as an alternative.

A DeFi token like SafeMoon is almost similar to the other crypto-token, but the only difference being that it charges a 10% transaction fee from the users who sell their tokens, in which 5% of the fee is distributed to the remaining SafeMoon owners. This feature rewards the owners for holding onto their tokens.

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SafeMoon Clone | SafeMoon Token Clone | SafeMoon Token Clone Development

The SafeMoon Token Clone Development is the new trendsetter in the digital world that brought significant changes to benefit the growth of investors’ business in a short period. The SafeMoon token clone is the most widely discussed topic among global users for its value soaring high in the marketplace. The SafeMoon token development is a combination of RFI tokenomics and the auto-liquidity generating process. The SafeMoon token is a replica of decentralized finance (DeFi) tokens that are highly scalable and implemented with tamper-proof security.

The SafeMoon tokens execute efficient functionalities like RFI Static Rewards, Automated Liquidity Provisions, and Automatic Token Burns. The SafeMoon token is considered the most advanced stable coin in the crypto market. It gained global audience attention for managing the stability of asset value without any fluctuations in the marketplace. The SafeMoon token clone is completely decentralized that eliminates the need for intermediaries and benefits the users with less transaction fee and wait time to overtake the traditional banking process.

Reasons to invest in SafeMoon Token Clone :

  • The SafeMoon token clone benefits the investors with Automated Liquidity Pool as a unique feature since it adds more revenue for their business growth in less time. The traders can experience instant trade round the clock for reaping profits with less investment towards the SafeMoon token.
  • It is integrated with high-end security protocols like two-factor authentication and signature process to prevent various hacks and vulnerable activities. The Smart Contract system in SafeMoon token development manages the overall operation of transactions without any delay,
  • The users can obtain a reward amount based on the volume of SafeMoon tokens traded in the marketplace. The efficient trading mechanism allows the users to trade the SafeMoon tokens at the best price for farming. The user can earn higher rewards based on the staking volume of tokens by users in the trade market.
  • It allows the token holders to gain complete ownership over their SafeMoon tokens after purchasing from DeFi exchanges. The SafeMoon community governs the token distribution, price fluctuations, staking, and every other token activity. The community boosts the value of SafeMoon tokens.
  • The Automated Burning tokens result in the community no longer having control over the SafeMoon tokens. Instead, the community can control the burn of the tokens efficiently for promoting its value in the marketplace. The transaction of SafeMoon tokens on the blockchain platform is fast, safe, and secure.

The SafeMoon Token Clone Development is a promising future for upcoming investors and startups to increase their business revenue in less time. The SafeMoon token clone has great demand in the real world among millions of users for its value in the market. Investors can contact leading Infinite Block Tech to gain proper assistance in developing a world-class SafeMoon token clone that increases the business growth in less time.

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How to Buy FEG Token - The EASIEST Method 2021. JUST IN A FEW MINUTES!!!

How to Buy FEG Token - The EASIEST Method 2021
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The origin of the article: https://www.youtube.com/watch?v=LAVwpiEN6bg
🔺 DISCLAIMER: The article is for information sharing. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Not investment advice or legal advice.
Cryptocurrency trading is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money
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aviana farren

aviana farren

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Embrace the growth of DeFi Token Development Like SafeMoon in real-world

“The DeFi token development like SafeMoon was initially launched in March 2021 and created huge hype among global users. It is noted that more than 2 million holders have adopted this SafeMoon token in recent times after its launch in the market. The DeFi token like SafeMoon has hit the market cap for about $2.5 billion. This digital currency has experienced a steady increase in its price value to top the crypto list in the trade market. The future of cryptocurrency is expanding wide opportunities for upcoming investors and startups to make their investments worthy.”

The SafeMoon like token development is becoming more popular in the real world, making investors go crazy over these digital currencies since their value is soaring high in the marketplace. The DeFi like SafeMoon token has grabbed users attention in less time when compared to other crypto tokens in the market. The SafeMoon like token exists on the blockchain for the long run and does not rely on any intermediaries like financial institutions or exchanges. It has a peer-to-peer (P2P) network that benefits global users from experiencing fast and secure transactions.

What is SafeMoon?

SafeMoon is considered a decentralized finance (DeFi) token with great demand and value in the crypto market. It is mainly known for its functionalities like Reflection, LP Acquisition and burning. The DeFi token like SafeMoon functions exactly like tokenomics of the reflected finance, and it is operated through the Binance Smart Chain framework. It is a combination of liquidity generating protocol and RFI tokenomics in the blockchain platform. The launch of the SafeMoon token eliminates the need for central authority like banks or governments to benefit the users with secure processing at high speed without any interruption.

SafeMoon Tokenomics :

The SafeMoon tokenomics describes the economic status of the crypto tokens and has a more sound monetary policy than other competitors in the market. However, it is figured that investment towards DeFi like SafeMoon tokens has a higher potential for returns to benefit the investors in future and the risk associated with it is less. The total supply of SafeMoon tokens is estimated at 1,000,000,000,000,000, and 600,000,000,000 of these tokens are still in circulation. Burned Dev tokens supply is calculated as 223,000,000,000,000, and the shorthand is 223 Trillion. The Fair launch supply is closed around 777,000,000,000,000, and it is circulated for about 777 Trillion.

SafeMoon Specification :

The SafeMoon like DeFi token development is currently the fast-moving cryptos and struck the market cap for about $2,965,367,638. The SafeMoon token price value is found to be $0.000005065 that lured a wide range of audience attention in a short period. The total supply of tokens in the present is one quadrillion tokens.

SafeMoon Protocol :

The SafeMoon Protocol is considered as community-driven DeFi token that focuses on reflection, LP acquisition, and burn in each trade where the transaction is taxed into 5% fee redistributed to all existing holders, 5% fee is split into 50/50 where the half is sold by the contract into BNB and another half of SafeMoon tokens pairs with BNB and added as liquidity pair on PancakeSwap.

Safety: A step by step plan for ensuring 100% safety.

  • Dev burned all tokens in the wallet before the launch.
  • Fair launch on DxSale.
  • LP locked on DxLocker for four years
  • LP generated with every trade and locked on Pancake

Why is there a need for reflection & static?

The reflect mechanism effectively allows token holders to hang on their tokens based on percentages carried out and relying upon total tokens held by owners. The static rewards play a significant role in solving a host of problems to benefit the investors with profits based on the volume of tokens being traded in the market. This mechanism focuses on satisfying the early adopters selling their tokens after farming high APYs.

What is the role of Manual Burns?

The manual burns do matter at times, and sometimes they don’t. The continuous burn on any protocol is efficient for a shorter period, which means there is no possibility of controlling it in any way. It is necessary to have the SafeMoon like token burns controlled and promoted for further achievements over community rewards. It is possible that even manual burns and the amounts to be tracked down easily and advertised. The burn strategy of DeFi like SafeMoon token, is beneficial and rewarding for users engaged over the long term.

How efficient is Automatic Liquidity Pool (LP)?

The SafeMoon protocol ensures to take the assets automatically from token holders and locks them for liquidity. The main intention is to keep the holder in touch with the performance of the SafeMoon token by preventing the dips from whales when they are adopted for the mass trade-off.
The DeFi like SafeMoon token, has great price value in the trade market with fewer fluctuations.

Attractive features present in DeFi like SafeMoon token platform :

  • Stable Rewards
  • Manual Burning
  • LP Acquisition
  • Community Governed Tokens
  • RFI Staking Rewards
  • Automated Liquidity Pool
  • Automated Market Making

What are the benefits offered in SafeMoon like Token Development?

  • The SafeMoon like token development maintains high transparency over user transaction details to gain their trust.
  • It eliminates the need for intermediaries in DeFi token like SafeMoon platform to benefit the users with less gas fee, wait time and faster transaction speed.
  • The DeFi token development like SafeMoon supports borderless transactions for users to transfer funds from anywhere and anytime.
  • It benefits the token holders from gaining exclusive ownership rights over their purchased DeFi like SafeMoon tokens from the marketplace.
  • The smart contracts present in DeFi like SafeMoon token platform manages to operate the overall flow of transactions without any delay.
  • Investors can generate immediate liquidity from DeFi like SafeMoon tokens to increase their business revenue in a short period.

Summing Up :

The DeFi token development like SafeMoon is the next game-changer for the upcoming generation to explore the benefits for their business growth. The investments towards DeFi like SafeMoon token has excellent value in the long run that benefits the investors with high returns. It is highly efficient for trade, buy/sell and transaction. Investors can connect with any reputed blockchain company with professional experience developing a world-class DeFi like SafeMoon token platform with high-end features cost-effectively.

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