We present our contribution to the evolution of blockchain technology: Gravity Protocol — a Graphene based blockchain protocol built on Delegated Proof-of-Importance Consensus with dynamic emission, for human-centric economy data.
Gravity Protocol has established as its foundation a Delegated-Proof-of-Importance (DPoI) consensus algorithm, which takes into account not only ownership stake, but also conducts measurement of activity, giving additional advantages to active users and nodes. To accomplish this, Gravity Protocol uses its own Gravity Index parameter. The Gravity Index is assigned both to the entire network and each individual user. It takes into account the activity of each participant and supports their active engagement by emitting tokens according to the user’s contributions. In turn, this stimulates users to utilize their tokens within the network, and discourages the passive holding of their assets.
This in turn will incentivize actual growth of the network and its value for participants, in correlation to the number of communications within the network, as according to Metcalfe’s law, the value of a network is proportional to the square of the number of the network’s participants.
Simply put, the more coins held in one’s account and the more active the network user becomes, the higher one’s rank becomes in the voting system, and thus, the greater his or her reward. We believe that user activity is the greatest value of blockchain which will support its economic growth and should be fairly rewarded. Active users and nodes will receive additional bonuses to that of passive token holders. However, the later also receive gains, as the overall growth of the ecosystem increases the value of all of the user’s investments.
The Gravity coin (ZGV) will be emitted as soon as the Main net is launched and emission will be spread right after Genesis block is generated (accordingly to the pools we have defined in the table below). 1% of the emission (10 000 000 ZGV) will be among NEM token holders.
However, first we’d like to address the principles of our emission:
We consider the Gravity network to be a network of activity. The Index of Importance, that we have implemented into the protocol, incentivizes network participants to use Gravity Protocol for business and transaction activity, instead of just holding a token and selling afterward. That’s why we will not conduct an ICO or introduce public token sales. This is to help avoid having holders who buy new coins purely for speculative value.
We believe that, according to Metcalfe’s law, the value of any network (including a blockchain network) is proportional to the number of network users. Therefore, we aim to spread our initial distribution evenly among a maximum number of interested users.
That is why we will reward involvement in protocol development as well as conduct an active faucet and airdrop distribution.
Here is the table of Gravity Protocol initial distribution:
Some pools will be released as soon as we launch the mainnet and some will be kept for a while until certain elements of the system are integrated. As an example, IPFS distribution pool will be kept until IPFS is integrated into Gravity Protocol.
Gravity Foundation pool will be frozen for a while and reserved as a basis for future research and protocol development, carried out by Gravity Foundation, an independent and non-profit entity.
You can find more information about the pools on our blog or official site.
We’ve already launched the public testnet. You can join it, create a wallet and earn a reward for some simple actions:
- Just launching a node will earn you 1,000 ZGV
- Reporting issues on our github with found vulnerabilities, interface improvement suggestions, etc can earn you 1,000 to 10,000 ZGV
- Protocol improvement suggestions can earn you between 10,000 and 50,000 ZGV
- Rewards for reporting issues with the economic model, Gravity Index and dynamic emission will earn you between 50,000 and 100,000 ZGV
And finally, to make things exciting here is the superprize:
- Grand Gravity Grail for taking over the network by being able to assign 2/3+1 witnesses 500,000 ZGV
How to participate
To participate, you need to do the following:
- Register an account on the testnet portal for participants
- Join the Telegram group
- For the first step you require a BitShares account and a github account.
- Bitshares account is required, because the rewards will be paid out in GRAVITY.WORK token on Bitshares network, that you would be able to exchange 1:1 for real ZGV tokens after the main net launch.
If you need any help with problems that you encounter, or something is unclear in the guides that we provide, please ask questions in our Telegram group.