Krypton Coin: A Smarter Smart Contract System

in #ethereum5 years ago (edited)

We're on the horizon of the Ethereum Hard Fork to solve the well known DAO crisis that took place last month: June 17th. This raises some questions on the credibility of the Ethereum ecosystem and what can be done to overcome those obstacles.
If you are unaware of the event that took place read this article before continuing: http://www.coindesk.com/author-daos-original-code-minimize-regulatory-backlash/

In light of the what happened, Krypton is a fork of Ethereum that aims to maintain Ethereum's core principles before the introduction of POS. Proof-of-stake (PoS): is a method by which a cryptocurrency blockchain network aims to achieve distributed consensus. That means Krypton is POW: A proof-of-work (POW) system (or protocol, or function) is an economic measure to deter denial of service attacks and other service abuses such as spam on a network by requiring some work from the service requester, usually meaning processing time by a computer. Krypton has all the same d-tech (dApp, DAC, DAO) as Ethereum, and more skilled management. At start Kryton aims to be a more secure system. In all sense consensus can be achieved through the implementation of future DAOs, all of which stand on an ecosystem of POW.

The foundation of Krypton not only makes it more secure, it also makes it faster. That will be important in the future when technology becomes more advanced. Sacrificing speed is only a form of downtime; That of which Ethereum sets to prevent in the first place. Gas prices in Krypton are also cheaper as a result which means lower cost transactions.

Finally economically Krypton makes more sense. Its inflation levels are much lower than Ethereum. Ethereum currently runs at about ~9% inflation, where as Krypton is 1/20th of that generating 1 Krypton per minute. This will attract smarter investors who are more inclined to save money and do more research. To boot the team starts off with ~2.669 million coins at launch, and all said combined makes for a scarce and valuable coin.