Hello,

I have had a sudden bout of inspiration to create a community for us Indie Developers.
The one thing we all have a lot of is time and the one thing we don't have a lot of but want more of is money.

And sometimes as Indie developers, we are not doing it for the money, or our projects don't sell like used high school girl panties in the business district of Tokyo... (yes that is a thing....)
But we want to make our dreams and vision come true. We have expertise in one area but may need help in another, and we are so broke we can't afford to even hire the next door kid to mow our lawn.


My answer is to create a community of Indie Developers powered by blockchain and cryptocurrency; where I trade my time for the time of others, with a cryptocurrency as the medium of exchange to signify that time.

If there is anyone interested in developing this community please contact me!!

I am looking for all sorts of people with all sorts of skills but currently what I need most are web developers, blockchain developers, and full-stack developers.

Hello rispensslocis,

Thank you for your comment and encouragement!
We are currently in talks with an ICO outfit and in the process of recruiting blockchain engineers/developers.
However, blockchain engineers/developers are sure in short supply nowadays.

Regards,
Pangem Team

Hello all,


Please find a link to the latest updated white paper:

https://github.com/PANGEM/Lounge/blob/master/PANGEM-Whitepaper-V6.pdf

If you open the pdf with a reader instead of viewing through github you can use the handy bookmarks to go directly to parts of the white paper or return to the table of contents!

If you are using a reader you just have to click on the "titles" at the table of contents or click on "go to table of contents" at the top of the page to return.

A new section has been added and the workings of the cryptoeconomy have been slightly fine-tuned.

Regards,
PANGEM team.

Nice to see a white paper.  But there is no mention of quorums. And no details on how you are going to keep the value stable.

You can check my investigation into this matter:
https://steemit.com/crypto/@pangem/beware-of-nibex-and-nero-scam

[/quote]

Check out my investigation:

https://steemit.com/crypto/@pangem/beware-of-nibex-and-nero-scam

What's the relation between DIWtoken and Suomichain?

Hello flavininar,

Thank you for your comment and encouragement!

Regards,
PANGEM team.

Bump

Hello all,

I'm thinking of creating a hybrid proof method and would like comments.

I call it Proof of Staked Coins and Hash, POSCH.

What this entails is that Rewards allocated for POS would be split into 2.

So it would be 40% to POS and 60% to POW.

Rewards would be equally distributed among all POS holders.
POW rewards distributed depending on hash rate contribution.

However to be eligible for POW the first prerequisite is to be a Staker.
Being a Staker makes you eligible to do POW for 3 months. So starting from the month your stake is locked and 1 month after.
Since staked amounts are locked and are not usable for the next round due to the overlap, an extra month of eligibility for POW is provided to cover the overlapping month.

However, the hash for POW is also staked. When the average hash rate for the last 120 hours (5 days) is below 50% the original staked hash rate, the POW eligibility is revoked. This is to discourage jumpers and reward stakers.
The staked hash will be calculated as the average hashrate from the first 24 hours when POS and POW are running simultaneously.

I think that by implementing a POW system like Ravencoin or Pigeoncoin would increase its resistance to ASIC.

The aim of having a hybrid system is to reduce possible attacks and to create a more fair distribution of coins.
And by linking POW rewards to a staked hashrate it would mean active participation for miners in the POS system.

The verification functions to be performed by the POS and POW systems is yet to be determined, but I would imagine the POS system would be in charge of the Ledger and the POW system would monitor the reward distribution.

But I'm open to suggestions.

Hello,

Looks like it could be an interesting project but there is not enough information.
Your website mentions it is a stable coin.

Still no whitepaper anywhere at all. What mechanism will you be using to stabilise the value?


I really want to encourage and promote stable coins and having a white paper is really the first thing any cryptocurrency project has.

I don't understand how you could have approached experts in the banking sectors without a whitepaper and have them "verify" your cryptoeconomics. And I assume that you approached such experts to see what they thought of the mechanisms to keep the value stable? Else why would you need such experts?

Hello dkbit98,

If you mean before any pre-ico or ico.
Yes, there will be alpha testing.

Beta testing not so sure, it depends on whether we assume a model like EOS where we would utilise ERC20 tokens that we would later change for our own coins. If we do that then the ERC20 token period will be a beta and field testing period. The plan would then be to have the ability to roll-back to previous states if any problems occur.

We have yet to finish determining whether existing blockchain platforms can be used or if a new platform will have to be created.

Hello pachornbullta,

As an investor you can benefit in 3 ways:

The first 2 ways are the general benefits where you can increase your wealth through minting much like you would through a savings account:
1/ You can stake your coins for minting new coins
2/ You can save your coins for minting new coins

The 3rd way is the most important since the focus is not just on holding coins. This system is geared to produce a healthy volume of trade by also giving incentives to spending.

3/ As an investor, you can liquidate your holdings without the fear of crashing the market.

You can't do that with all current cryptocurrencies because the injection of coins will eat through order books dropping the value.

With PANGEM, the aim is to create a group consensus on the value of the coin thus reducing or eliminating speculation.
If everyone is aware they are rewarded through spending then there is less need to deviate from a value because wealth creation no longer needs to be achieved by buying low, hodling, and selling high.
You can create wealth by spending and so if everyone was selling and buying close to the same value and the velocity of the coin is very high the cryptocurrency is better equipped to handle large injections of coins in the circulating supply.

You can think of cryptocurrency as a river.
There are many small tributaries that feed a river.
But if you build dams on the small tributaries to create reservoirs for electricity production you also block the flow of water (holding).
This will reduce the water level of the river (circulating supply or in this case flowing supply?).

So because the river has gotten smaller you see people building houses closer to the water.
The person who owns one of the dams releases a little bit of water to create electricity from time to time, but now he decides he needs to empty his reservoir because he needs more electricity for a very large project.
The sudden influx of water causes the river to swell destroying the houses that were built closer to the water.

And now everyone is afraid to release their dams because they don't want to destroy houses.

That is the current state of cryptos in the world and comes as a result of cryptos being designed as assets and not a true medium-of-payment.

bump

I hope that I can get more feedback and first impressions on PANGEM.

Hello funcydacor,

Thank you for your comments! The details are far from perfect but I am happy to see that you can appreciate the fundamentals and see the possibilities.

I actually did my market research after writing my white paper because I didn't want to be influenced by other projects.
And so far I have not seen any other cryptocurrency project that tries to achieve the same thing! So I am also confident of the success of the project.

Regards,
Isaac Hwang.

Bump- for those who have not seen this topic.

Hello Satosha,

Thank you for bringing me to the attention of "Haven Protocol".
I've read through their very short whitepaper and its a very different idea.
As they rightly state it being some sort of offshore store of money based on the USD I am not sure how you consider that project similar to mine and state, "there is no need".

I suppose you would also say that Haven is similar to Bitshares, Fragments, Basecoin, Saga, and all other stable coins?

Haven is a very different concept that is actually novel but if you think about it also may be unnecessary......

Quoting from their whitepaper:
"Bob decides he wants to put 200 of his Haven into offshore storage.
The offshore smart contract determines the current market value of that Haven (in USD for now) based on a weighted average of volume across supported exchanges.
If the current value is $1 USD then the contract will record a value of $200 USD worth of Haven at Bob’s request. The 200 Haven that was sent is then burned and the total money supply decreases. If the price of Haven then moves to $2 USD and Bob decides to access his Offshore Storage, he will be returned 100 Haven (100 * $2 = $200 USD as per original value).
If the opposite occurs and the price of Haven halves to $0.50 then 400 coins will be minted and sent to Bob."

Okay, but why use a smart contract when you can just change back to USD? Or will they use another fiat currency? A basket of fiat? An index? Gold? Whatever they use why not just change into that?

And what if it is the USD that drops in value?


So, how is haven similar to PANGEM?

bump

Exactly!

My whitepaper has more details on how that will be achieved.
Yes, it is true I have to work on this [ANN] topic.

Currently, I only have academic people as advisors and a prospective team of ICO/blockchain developers.
So basically it is only me doing all the footwork right now.
I wrote the original whitepaper a few weeks ago and it is just now that I am coming out with it to get feedback on the crypto community as a whole.

It really is in the earliest stages of development. But I hope to get this thing moving quickly.