Dagra cryptocurrency
 | |
| Original author(s) | Artem Gurin |
|---|---|
| Developer(s) | Artem Gurin |
| Initial release | 25 March 2017 |
| Written in | C++ |
| Engine | |
| Operating system | Linux |
| Platform | Dagra |
| Type | Payment system |
| Website | dagra |
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Dagra cryptocurrency — a digital currency, developed on the basis of the system of delegated servers in P2P-network (masternodes), extended PoSe-model (Proof of Service) and its own cryptoplatform Dagra. The coin of the same name DGR is encrypted and copy protected. This altcoin uses decentralized control: delegates (or masternodes) control a complete network node with blocked funds of 1000 DGR and have the right to vote; miners are in charge of emission, forming new cryptocurrency network blocks (or blockchain accounts) in 2.5 minutes on average. Earned money are divided between participants in the following way: miners get 45 % of the income, delegates also get 45 % and 10 % is remained for network maintenance. 21 000 000 DGR will be produced by 2038. [1]
Overview[edit]
Cryptocurrency Dagra differs in the following technical characteristics:
- All transactions are immediate and guaranteed because the gateways are blocked by a present transaction.
- Coin mining is possible by ordinary computers and video cards.
- All payments in the global Dagra network are carried out without intermediaries and third-party control. [2]
- The users of Dagra network influence on the development of cryptocurrency if they hold shares in decentralized autonomous organization Dagra.
- Cryptocurrency Dagra is 100 % reinforced by gold fund and is protected from the leaps of exchange rate and depreciation. It is placed in banks all over the world. [3]
- There is a system of quorums to fight fraud. To fool this system delegates with violations should be chosen six times in a row. Otherwise the violations will be canceled by the system.
- Dagra regulates inflation that increases with the mining through a reduction in supply by 7 % per year. Every blockchain is directly attached to the number of miners in the network, its increase leads to the decrease in payment for the mining. Such a measure allows to avoid the increment in commission for transactions, to ensure the inflow of liquidity on the market and to hold inflation on the minimal level.[4]
Masternode[edit]
A masternode, i.e. a complete node of the network, has the right to vote and participate in decentralized election for the management of Dagra cryptoplatform. It also provides different services in the network using Proof of Service models.
There is a secondary delegate network in Dagra. Its nodes are highly accessible, they give clients an opportunity to synchronize and quickly send out messages through all the network. Complete delegated nodes, unlike bitcoin ones, possess obligatory safe deposit of 1 000 DGR for the participation. Thereby investors gain a percentage from their investments and decrease volatility of the currency.
Delegates are paid from the same pool of cryptocurrency — about 45 % of the total payment of its block. Expected payment for a delegate depends on the current number of active nodes. Daily income for the launching of a delegate node can be calculated by the following formula: (N/t)*r*b*a, where N — the number of delegate nodes that are managed by the operator, t — total number of delegate nodes, r — current block of the payment (at the present time about 25 DGR), b — average number of blocks per day (about 576 in Dagra network) a — average payment for all delegate nodes (45 % from the average payment for a block) Pseudorandom order of delegate nodes is provided by specific deterministic algorithm. Hash function is used as proof of work of every block and the safety of this function is provided by the network of mining. The system uses checking quorums to verify transactions, to block recording and to confirm the service. To reduce the likelihood of misusing the system nodes should ping the rest of the network and stay active, i.e. respond to requests and maintain the right bandwidth of the block.
Verification of the activity of nodes in the network is carried out by the network of delegates. 1 % of nodes is scanned in every block. As a result, all the network is tested six times per day. The work of the system should not depend on the work of specific nodes, so the choice of the nodes is based on quorums. Node deactivation requires at least six violations. To fool this system delegates with violations should be chosen six times in a row. Otherwise the violations will be canceled because system of quorum will choose other delegates of the block. The choice of delegates is pseudorandom. [5]
InstantSend[edit]
InstantSend is a service for safe instant transactions with low or zero comission. With the help of quorums of delegate nodes users send and receive irreversible transactions. At the time of quorum formation the gateways of a transaction are blocked for 4 seconds to spend them only on the certain transation. After coming to a consensus about blocking a delegate node by the network all the conflicting transactions or blocks are rejected. Embedded function InstantХ allows sellers to use mobile phones instead of POS-systems for offline trading without intermediaries.[6]
Dagra Core wallet[edit]
All the possibilities of cryptocurrency in Dagra Core wallet are implemented in accessible graphical interface. There is no need to tune miners, to enter difficult addresses for money transfer or to learn console commands for additional functions of the wallet. [7]
Decentralized administration[edit]
A system of decentralized administration is used in the protocol of Dagra cryptoplatform, which forms decentralized autonomous organization (DAO). The right of the vote in this organization belongs to delegates – participants that maintain a complete network node with blocked funds of 1000 DGR.
Delegates can put forward proposals concerning the development of the system and vote for them. By voting results cryptomoney for the project realization are transferred to implementers automatically. The vote page represents the analytics: suggestions, number of votes, expenditure and status of realization of supported projects.
DAO Dagra helps to create your own decentralized autonomous organization, to get the financial support of a useful project with the help of blockchain and smart contracts. The emission of the currency depends on the participants and the relevance of the system. [8]
Different services are available to a user: financing, advertising, consulting services in Dagr Fund, financial instruments in DagrSol of Bank (deposits, crediting, investment package), trading of shares in your organization on decentralized market of DagrSol of Bank.
Due to the decentralized server flagman search engine DagrSol does not save the history of search, does not keep and provide personal data. It allows active participants to make money on advertising, sharing 90 % of the income. [9]
Economics[edit]
Exchanges concerning launching of delegate nodes set soft and strict limits on active nodes in the network. For November 2017 the turnover of the system was 3 million DGR, the number of active nodes was 3 300, the number of currency users was 3 500. Soft limit is determined by the price of node acquiring and limited liquidity on markets due to the usage of DGR as an instrument of payment besides investments. [10]
The quick growth of the company and carrying out Initial Public Offering (IPO) at US sites gave grounds to predict that in 2-4 years the price of one sharing would soar from 0.5 $ to 12 $.[11] But ahead of analytics forecasts by the 1st of December 2017 the release of new products increased the price to 28 $.
External links[edit]
- https://dagra.org/en/documentation/whitepaper/
- http://www.nvsos.gov/SOSEntitySearch/CorpDetails.aspx?lx8nvq=J4WZfPdFDjgl7NWgYXn%252byg%253d%253d
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