Post
Topic
Board Announcements (Altcoins)
Re: Cryptix Your Digital Currency for the Future Launch Now !!!
by
Cryptix-Network
on 01/02/2025, 23:02:38 UTC
Here is the part about this Topic in our Whitepaper, was written BEFORE the first Genesis was mined allready:



What is Premining?

Premining refers to the creation or distribution of coins before the official launch of the blockchain or network, without offering the community equal access to them. This typically involves the coins being allocated through the genesis block or mined before the community or users have access to the source code. Premining is often seen as unfair or centralized, as it allows certain individuals (like developers, early investors, or project teams) to hold a significant portion of the coins prior to the public launch. This can undermine trust in the project.


What is Not Premining?

If the source code is publicly available and accessible at the time of the official launch, it is not considered premining—especially if the genesis block does not include any payouts. Premining specifically refers to the prior distribution of coins to select individuals before the official start of the network. The official launch of a project is generally marked by the activation of the network (mainnet), the creation of the first block, and the public release of the source code. If the source code is published, and the mining process starts simultaneously with the launch, there is no premining involved.

Cryptix Case Example:
In the case of Cryptix, no blocks were mined before the source code was publicly available via the website or GitHub. The source code was accessible to the public for weeks, even during the development phase. As a result, we encountered issues with existing miners before the final genesis block was mined and the network was officially launched, which disrupted our development. The Cryptix team will begin mining immediately upon the release, which will occur as soon as the final genesis block is created. We estimate that we will mine 6-9% of the total coins, which is relatively low compared to other projects. Many projects impose 20-40% developer fees, meaning the developers take a portion of transaction fees or block rewards (i.e., a percentage of all coins). In the case of tokens, founders may even own 100% of the tokens and still charge developer fees for transactions. Cryptix, however, operates with a 0% developer fee. The coins we mine will primarily be used for future development, long-term community engagement, liquidity, exchange listings, and other strategic purposes. The Cryptix Genesis had no Payout.



It is important to understand that the development of a cryptocurrency and blockchain project requires significant financial resources and a lot of time. Development environments must be paid for, seed servers are needed for network launch, licenses, additional servers, security systems, domain systems, email systems, and more. All of this costs money, which developers must often pay out of their own pockets. The months or even years of work and time invested are not even factored in. Users and miners often expect developers to work for free, but this is far from reality. Why should developers pay for everything and give away their time and effort? Moreover, further steps towards the success of a cryptocurrency, such as listing on centralized exchanges (CEX), require even more financial resources. Listing on these platforms is not free. Additionally, the coin itself is necessary for initiating trading. In our opinion, it would be impossible for a developer to create a successful crypto project without owning their own coin. Another important consideration is long-term motivation—cryptocurrency projects should be supported and developed over the years, not just until the initial release. Developer fees or early mining of a coin are essential for developers and the team to cover costs and ensure the success of the project. The key is that these fees are fair and reasonable. Unfortunately, this has often been abused in the past by "pump and dump" projects. The same applies to trading platforms, pool providers, and mining software developers. A pool provider has significant costs for servers, a trading platform must ensure server capacity and security, and a mining software provider must continuously update the software and support each coin individually. Anyone who has ever written a GPU driver knows how complex and time-consuming that work can be.