Quote from: GCOX_Official on July 29, 2018, 03:53:31 PM

Quote from: jakezyrus00 on July 29, 2018, 06:04:36 AM

Actually there are already a lot of crypto token exchange and I just want to know what makes this project different from others. By the way, what do you mean celebrities? Is it the real celebrities who showed on television? Please help me to understand. Thanks

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"what makes this project different from others."

Whitepaper page. 38 Section 6
ACCLAIM BLOCKCHAIN
The native on-chain DEX will continue to showcase the best features of decentralised and centralised exchanges. Privacy, process integrity, transparency, and immutability are provided out of the box by storing buy / sell orders on the blockchain as normally implemented in other DEXs. However, unlike other DEXs but similar to centralised exchanges, there will be no transaction fee for placing buy, sell or cancel orders. There will be a transaction fee only when orders are filled. The in-built native DEX offers a higher performance compared to smart contract-based DEX implementations as matching logic is executed natively instead of being run at a slower pace on all virtual machines in the network.

Whitepaper page. 40 Section 6.5

Future Developments on the ACCLAIM Blockchain

Proof of Trade Concept and Trade Mining
Proof of Trade was conceptualised from a rebate model that rewards users for trading on the GCOX platform. The Applause Tokens (APL) are gas tokens that control the utilisation of GCOX platform resources. The APL tokens allow users to transact on the ACCLAIM Blockchain. With a total supply of 1 billion APL tokens, 20% (equivalent to 200 million tokens) are pre-mined during the Genesis block and the remaining 80% are currently generated through a decay algorithm as explained under Section 6.2. We intend for the Applause generation model described under Section 6.2 to eventually transition to the trade mining model as further described below. The Proof of Trade utilises trade mining and rewards traders and users for their trades on the GCOXs decentralised exchange (DEX).
Trade Mining
Trade mining is an innovative concept that rewards users who trade mine on the DEX, based on their trading value. In addition to incentivising traders on the DEX, this concept allows them to participate in the generation process of the remaining APL tokens.

Block rewards from trade mining serve two functions and will be distributed in the ecosystem via the following manner:
1) Trading Fees & Trade Mining Block Rewards
APL tokens in the block rewards will be generated and awarded to Trade Miners trading on the DEX instead of to the Speaker Node. This reward system continues until 1 billion APL tokens have been reached, including the 200 million APL tokens pre-mined in the genesis block. The number of APL tokens awarded will be equivalent to the ACM value of the trading fees incurred by each trader on the DEX. APL will be awarded each time a new block is created based on the trades to be recorded in that new block.
Trading Fees on DEX
On the DEX, all trades will be subject to a 0.01% trading fee in addition to the 0.01 APL network fee. The minimum trading fee is equivalent to the smallest quantity of the respective tokens, in 8 decimal places. This 0.01% fee will be awarded to the Speaker Node that validates the transactions during block generation.
Trade Mining Block Rewards
For every 1 ACM value of trading fee incurred, users will receive a block reward or trademining reward of 1 APL, in a one-to-one (1:1) ratio. For example:
In a trade of 50 ACM tokens for 20 PAC tokens:
Buyer will incur a trading fee of 0.005 ACM tokens (0.01% of 50 ACM)
Seller will incur a trading fee of 0.002 PAC tokens (0.01% of 20 PAC)
The 0.005 ACM and 0.002 PAC trading fees (0.01%) will be awarded to the Speaker Node that validates the transactions during that block.
Both buyer and seller (trade miners) will be rewarded based on the above-mentioned 1:1 ratio. Given that the trading fee incurred is 0.005 ACM, they will each receive 0.005 APL.
This trade mining rewards system continues to be the mechanism that releases the remaining 800 million APL tokens until the maximum supply is reached.
2) Network Fees
The total network fees incurred during each block interval of 15-20 seconds will be awarded to trade miners of the largest single trade, i.e. the trade in each block with the highest ACM trade value. This will be similarly subject to 8 decimal places.
For example:
If total network fees in the block is 0.01000001 APL, the buyer and seller will receive 0.00500001 APL and 0.00500000 APL respectively. In a scenario where equal division will result in more than 8 decimal places, the additional 0.00000001 APL (or any other odd number) of network fees will be rewarded to the buyer.
If there are multiple trades with the same largest trade value, the earlier trade within the block will receive the reward. If there are no trades on the DEX, the Speaker Node will receive the total network fees for the block.
In the event where no network fees are incurred, the block will still be created and a miner transaction will be recorded for the creation of the block which simply indicates which consensus node created the block.
This revised Network Fees allocation ensures the continuity of the Trade-Mining rewards, once the full supply of Applause tokens (APL) has been trade-mined.

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what do you mean celebrities? Is it the real celebrities who showed on television?

No celebrities do not have to be on television they can be an author, Youtuber, Twitch Streamer anyone with a monetized following looking to expand its revenue streams and celebrity lifecycle.

Whitepaper page. 7 Section 1.3

Value Proposition
Celebrities are not just people they are their own brands. Whether they make music, star in blockbusters, write award-winning novels or score the most goals in the World Cup tournament, they capitalise on their brand image for monetary purposes. Many celebrities are also the faces of other brands in their sponsored tweets and Facebook posts.
As rules of engagement constantly change, celebrities can now capitalise on social media endorsements to rapidly grow their popularity and stardom. The birth of blockchain allows them to leverage on their popularity by listing on a decentralised popularity index.

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Well this section almost explain all, there lots of exchanges out there yes it's true but i guess the thing that makes this platform is the mechanics which allows celebrities to capitalise on many things, like social media endorsement which results to rapid growth of the platform. Which i think will result to very large money inputs to crypto industry.