[ANN] KingsCoin- Glocal Digital Cash That Will Transform The Livelihood of Native Islanders
KingsCoin last edited by
At present, many cryptocurrencies serve only one purpose: to transact. This is a very narrow approach that overshadows the true value of cryptocurrencies. KingsCoin (KGS) aims to expand its utility beyond mere transactions. By increasing the sociability of KingsCoin, we can cater to a great number of audience. We believe that cryptocurrencies can become a useful instrument for everyone.
Our vision is to create a Masternode and a reliable cryptocurrency with a real use case in a real trade market. KingsCoin aims to help improve transactions at native islands by establishing itself as an alternative mode of payment. On top of giving value to local fiat currency, KingsCoin also acts as an alternative trading currency that may ease the problems of inflation among all traders and consumers at native islands.
We also aim to expand KGS utility to assist and improve government administration by delivering the FOUR (4) main benefits:
- Transparent governance
- Financial accountability
- Contract and tender management
- Identity management
To achieve the said vision, we have carefully laid out THREE (3) viable missions aligned with our real-world business model to back up the value of KingsCoin.
- To implement KGS into a viable business model by introducing real services, merchants, pegging, etc.
- To offer a secure, fast and easy transactional PoS services to every investors, merchants, and consumers.
- To offer a highly efficient platform for project owners to manage their investment in the cryptomarket.
We are also happy to introduce to you our THREE (3) flagship products that will help expand our finances:
- Translation service
- Dubbing service
- Voiceover service
KGS masternode network that donates processing power to confirm transactions instantly by utilizing the SwiftTX technology inherited by PIVX. A healthy Masternode network relies heavily on the financial tools enabled by the network. That is why Masternode owners are incentivized by helping the network grow.
Return on Investment
The value of KingsCoin lies in its use case, tied strongly to the real world environment. Having a real use case in merchant trading and assisting government administration helps create glocal digital cash demands for KGS in its real environment.
We have conducted extensive calculations and simulations to ensure that KGS does not experience devaluation through inflation. Our Board of Trustees of True Riches also contribute to this cause (discover more in the next section).
The remuneration for the block will be distributed with careful calculations by our expert to avoid inflations. The block time of KGS is set at 150 seconds, instead of the commonly found 60 seconds block time in most Masternode systems. A longer block time avoids frequent forkings, high mining wastage and overpaying, ensuring a healthy Masternode network.
KingsCoin uses a SuperBlock system that pays out once a month. SuperBlock has an increased difficulty that requires more time to mine control the volume of KingsCoin on exchange platforms, which also helps prevent pump and dump.
Board of Trustees of True Riches
KingsCoin also plans to get investors, known as the Board of Trustees of True Riches, who hold a large amount of KGS to control pump and dump by stabilizing the overall coin price. When KGS coins are dumped, the board of trustees readily buys over the coins, so that the coins are held by a board of trustees, instead of letting the coins switch hands to individuals who we do not know nor trust. The coin switch minimizes dumping impacts and controls coin inflation, ensuring that our coin value is consistently on the rise.
The Treasury System holds a wallet funded by our network. At the end of every month, 5% of coins mined at each month will be allocated to the Treasury wallet. Project funds to implement plans of expansion work on the basis of a general consensus. Projects proposed, either by our team or individual Masternode owner, complete with its budgetary requirements will be viewed and voted with a Yes or No. Each Masternode owner gets one vote. The Treasury fund may also be used to donate to charitable causes and natural disaster needs. A project that obtains the majority vote of approval from our network then gets its fund from the Treasury wallet at the next SuperBlock (in the next month).
Nov 2018 (Completed)
- New blockchain starts
- Website and wallet launch
Dec 2018 (Completed)
- Crex24 applied
- Cryptobridge applied
- KingsPosPool trial run
Q1 2019 (On-going)
- Create marketing company to launch a marketing campaign to attract and register local merchants
- List on CoinMarketCap
- White Paper will be completed
- Launching of KingsPoSPool
- Launching of KGS Mobile Wallet for iOS and Android
- Integrate KGS coin using KGS Mobile Wallet with local merchant stores