Ezira: A democratic social media and cryptoeconomic network [White Paper Part 4]
Ezira is a distributed and democratic blockchain based social media and cryptoeconomic platform.
It presents an open source network for building communities and businesses by empowering them with cryptocurrencies, user sovereignty, and digital identity. Ezira is a decentralized autonomous organization that incentivizes and directly compensates its contributors, asset holders, and workers at the blockchain level, and provides a wide scope of public services to network participants. It enables the creation of digital businesses operating on a powerful, transparent, and accountable financial system. Ezira offers a next generation platform for banking, payments, business management, and uncensorable communication.
Network development is in the conceptual whitepaper phase. I am actively seeking public discourse on my proposal, and seeking developers that are interested in helping to make the Ezira network a reality.
2.2 Cryptocurrencies:
Ezira puts you in full control of your money.
Investment in the Ezira network is represented by the EZIRA cryptoequity, which is paid a dividend that scales in value with the profit of the network. Only 10,000,000 units will ever be issued, and provide voting power to exercise agency over the network. Revenues and expenses are denominated by the EziraCoin currency, which is produced in blocks, and consumed by using blockchain level services. Only 10,000,000 units are minted per year, and are actively consumed by unprecedented avenues of demand through buy and burn mechanisms. The EziraDollar is a smartcoin that is pegged to the US dollar, and maintains a stable value. It is backed by 200% of its value in EziraCoin collateral. It can be freely transacted to anyone at any time, and represents the medium of exchange of the network. The Ezira Decentralized Exchange allows all of your trades and exchange assets to be held and recorded on-chain, securing them against exchange hacks. Ezira’s gateway assets are backed by a full reserve of leading cryptocurrencies, of which at least 90% are held in cold storage, and can be redeemed in full at any time. Third parties are free to create user issued assets and offer their own exchange services, or any other desired crypto asset.
Ezira cryptocurrencies enable high performance, and are distributed fairly.
Using a Delegated proof of stake blockchain, transaction throughput is highly scalable, energy waste is minimized, and block times are only three seconds. Core cryptocurrencies EziraCoin and EziraDollars have no transaction fees, making them highly viable payment methods at the point of sale. A network of Supernodes is integrated into the system, which are rewarded for providing consistent processing, storage, bandwidth, transaction relaying, and hosting resources. Each Supernode holds a balance of EziraCoin, and operates an active full node. The Ezira Founders will only hold 20% of the equity of the platform, and a 10% share of EZIRA equity will be sharedropped on the widest range of blockchain communities ever, including Bitcoin, Ethereum, Ethereum Classic, Steem, Bitshares, Dash, Monero, Litecoin, and Zcash. The beginning of the blockchain will be widely publicly announced, eliminating early ninja mining. There will be no phase of high rate early mining, as the mining rate will be constant.
Ezira is committed to a stable network.
The Ezira network will never, under any circumstances, execute a blockchain hardfork to redistribute funds, blacklist any accounts, or censor any transactions, even in the event of accused theft, or government coercion. Ezira will maintain the fungibility of all cryptocurrency units and will never, under any circumstances, compromise the immutability of the blockchain. Block rewards will remain constant to compensate miners and witnesses, preventing any reliance upon a transaction fee market to gain block inclusion. The Ezira blockchain is flexible, and the size of blocks will be altered as needed, and supported by witnesses. The majority of delegated witnesses must agree to support any protocol level changes to the blockchain functions, parameters, or features. These witnesses are elected by platform voting power holders, ensuring that the adoption of changes is always aligned with the collective will of the users. The network will never issue more than 10,000,000 units of EZIRA. The network will never issue more than 10,000,000 units of EziraCoin per year in block rewards. The Ezira founders will hold their personal equity for at least 5 years from the genesis block, and will lead by example in demonstrating their resolve and confidence in the value of the platform.
2.3 Businesses:
Ezira allows businesses and contributors to thrive and grow.
Multi-sig cryptocurrency wallets are integrated into user accounts, allowing for the seamless creation of blockchain based businesses, with linked cryptoassets. Our advertising and engagement tools provide organizations of any size, from sole entrepreneurs to multinationals, unique opportunities to build and leverage their brand, cost effectively improve sales, and engage with their customers and community. Business operators will be able to permanently and publicly list their products as blockchain objects, which can be drawn upon by third party developers for use, display, and sale on any outside interface. The Ezira network features blockchain level implementation of escrow transactions, allowing customers and vendors to trust one another without centralized oversight, and have a point of recourse with a team of mediators in the event of transaction issues.
Ezira supports its businesses from start to finish.
Ezira offers a full whitepaper-to-business sponsorship program to guide and promote organic startup projects from the ground floor to the stratosphere. Our sponsorship program puts you at the head of the pack, and brings you into the EZIRA Consortium. By sharedropping equity and sharing revenue with the EZIRA community, you gain a strong backing of financial support in the event of hardship. Ezira implements a community consensus approved system to cover the liabilities of any sponsored business that applies for default. Investors are reimbursed to cover the default of an Ezira sponsored business. The Ezira sponsored business program aligns the interests of the network, and those who strive to innovate using its technology. The success of our sponsored businesses is our success, and their challenges are our challenges. Users are able to promote their posts to receive additional visibility for use in advertising their business or its products. Promoted posts can be used to gain a greater following for content, and gain a greater exposure in the Ezira community.
Ezira brings low cost cryptoassets to everyone.
Customized user issued assets are recorded securely on the blockchain, just the same as Ezira network cryptocurrencies. These assets can be used to represent anything you can imagine. Ezira offers integrated support for creating assets to represent equity in a business, assets to represent content subscriptions, and assets to represent event tickets. Any asset can be used as a basis for profit distribution, allowing anyone to pay dividends to asset holders. Assets can be created that track the value of an external object, or represent ownership over another asset for use as a gateway asset on the Ezira decentralized exchange. Ezira earns revenue by selling cryptoassets that grant accounts membership on the blockchain. These optional memberships grant an account additional voting power, a greater relative stake in Ezira’s reward payouts, the ability to post premium content, and discounts on fees.