Crypcore
What is the purpose of Crypcore?
Stable coins were created to solve the volatility problem because the adoption of the crypto currency is experiencing obstacles around price stability. Stable coins have performed well since joining the crypto currency space but there are still many improvements to be done. Especially in the crypto area coin collateralized. This paper discusses the possibility of making collateralized crypto stable coins that combine pure crypto exchange, solvency systems and Cryptonote protocols. Crypcore is about creating crypto assets that enforce a solvency system that eliminates wild price changes, while giving Crypcore an opportunity to grow. Crypcore is basically a combination of crypto digital assets guaranteed by a solvency system to ensure price stability.
Problems and Solutions
Too much power on the part of the publisher: Stable coins can be effectively removed from circulation at any time by the issuing organization. For example, the Omni Protocol from tether can give and revoke tokens that are represented on the blockchain. With Crypcore this is not possible because of technology based on Crypcore.
Over-issuance: The big problem with the most stable coins is that coins are issued in the same way that central banks spend money, making them vulnerable to over-issuance and vulnerable to inflation. Crypcore will not experience this problem because the amount outstanding is determined by the emission logic of the Cryptonote protocol, and can be seen by all.
Unstable Virtual Collateral: Virtual Collateral itself is unstable so using it to support stable coins is difficult and confusing. At the end of this paper you will see how Crypcore hopes to solve this problem.
Highly Regulated: Stable coins set by Fiat are highly regulated and limited by the old banking system.
Expensive, slow liquidation & purchases: Liquidating stable coins can be slow because with the most stable coin provider you need to transfer money to your account that will incur bank charges. Purchases can also be slow because you sometimes have to go through the KYC procedure and transfer money which sometimes takes days.
Complex Smart Contracts: For crypto digital assets that are guaranteed like Maker Dai there is a problem of understanding. For ordinary everyday users, the term might seem complicated. Crypcore will apply a very simple solvability equation system with easy-to-understand equations and parameters.
How does Crypcore work?
Crypcore is taken from Monero which is built on cryptonote protocol which is cryptographically safe and completely anonymous, Crypcoreecosystem integrates solvency equations, pure crypto exchange and Cryptonote protocol to make coins that have stable prices with price stability achieved with average increase in collateral with price fluctuations.
For this effect Crypcore is a stable coin that operates in a fundamentally different way from traditional stable coins, we will call it Dynamic Stable Coin (DSC). Crypcore will get a guarantee from the fees charged on the Crypcore exchange, this fee will be added to the Crypcore coin guarantee so it always increases the guarantee and maintains the stability of the Crypcore Price. Crypcore is not seen as a stable coin of traditional cryptocurrencies, but rather a new and innovative approach to achieving price stability in the cryptocurrency space.
Cryptonote Protocol
The Cryptonote Protocol is an application layer protocol that was created to solve problems related to the bitcoin protocol. Cryptonote first appeared in 2012 and a white paper breakthrough was issued on October 17, 2013, the most popular coins based on the Cryptonote protocol are Monero (Crypcore taken from Monero) and bytecoin. Cryptonote is based on the cryptographic work "Traceable signature rings" made by E. Fujisaki and K. Suzuki.
Crypcore wallet
Crypcore aims to be accessible even to non-technical users, wallets will be provided for various platforms. There will be desktop wallets, command line wallets, hardware wallets and web wallets. After the completion of the development of Web Wallet for android and iPhone wallets will begin. The web wallet is currently under development, you can find the screenshot below.
Crypcore Exchange
Crypcore exchange will play a very important role in managing the price of Crypcore. To do this Crypcore Exchange must do things in an unconventional way. A very simple solvency equation will determine the price of Crypt. In normal stable coins tokens are issued by the main organization but the Crypcore exchange will not be able to make tokens, but rather every coin is mined. This is because the privacy and security of our users is very important. In order for Cryps to maintain its value, the initial money supply is mined and held by the Crypcore exchange. Crypts held by exchanges will not be considered outstanding.
Roadmap
- Q2 2019 Idea of Realization & Research of personal funds of $ 50,000
- Q3 2019 Architectural Design & Whitepaper publications
- Q4 2019 Launch Crypcore, Instant Launch, Block launch, Explorer, Start, crypcore, exchange on the exchange
- Q1 2020 Launch Web Wallet
- Q2 2020 Launch Mobile Wallet
- Q3 2020 Launch new features for Crypcore Exchange
Team
- Terryp:
Lead Developer Terryp has more than ten years of development experience and web security expertise.
- Zonner:
Web and mobile designers. Fifteen years of design and development experience.
information
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