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Author Topic: [ANN] galilel.org [GALI][BOUNTI] - MN/PoS/zPoS Hybrid-Dynamic Zerocoin Staking  (Read 1067 times)

mbroemme

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  • [ WHITEPAPER TRANSLATION BOUNTY OPENED ]


    [ WEBSITE  |  EXPLORERS  |  GITHUB  |  INFO  |  WHITEPAPERS  |  WALLETS  |  SOCIAL MEDIA CHANNELS ]



    [ GALILEL COIN ]

    Galilel Coin (GALI and zGALI) is an open-source public and private Proof-of-Stake digital crypto currency for fast (using SwiftX), private (Zerocoin protocol) and secure micro transactions. Our main goal is to create a decentralized fully secure and anonymous network to run applications, which do not rely on any central body control. By having a distributed system, thousands of users will be responsible for maintaining the application and data so that there is no single point of failure.

    While Zerocoin solves the traceable reward generation problem, Galilel will implement hybrid mobile Proof-of-Stake (ghPoS) for public and private coins. The Term Deposit (gTD) function allow to lock coins for a certain period and generate predictable rewards. Masternode owners get the possibility to vote for reward reduction or complete burning for a specific period to reduce coin generation. The Galilel Money Supply Control (gMSC), effectively Proof-of-Burn v2 burns only rewards, never term deposits and development budget. The period for coin burning will be 1 month with a range between 0% - 100%. Every month is applicable for voting. Galilel Instant On Masternode (gIOMN) implements a shared blockchain to run one-to-many wallet daemons in a client server model. It is comparable to "Instant On" model available in Electrum client.

    With early release of Galilel wallet v3.1.0 we delivered the worlds first crypto currency which has proportional Zerocoin Proof-of-Stake (zPoS) rewards depending on the block reward!



    [ COIN SPECIFICATIONS ]
    ________________________________________________________________________
    DescriptionParameter
    Coin nameGalilel
    Coin tickerGALI
    Hash algorithmQuark
    Consensus algorithmPoS + zPoS Hybrid
    Coin typePoW/PoS/zPoS/MN
    Wallet letterU
    Block size2 MB
    Block time60 Seconds (Re-targeting every block)
    RPC port36002
    P2P port36001
    Minimum staking age2 hours
    Maturity120 confirmations
    Send eligibility6 confirmations
    Masternode collateral15,000
    Last PoW block1,500
    Rewards (till block 1,500)MN 60%, PoW 40%
    Rewards (till block 205,000)MN 60%, PoS 40%
    Rewards (from block 205,001)MN 70%, PoS 30%
    Max Coin Supply (January 2020)19,035,999 GALI
    Max Coin Supply (January 2030)45,315,999 GALI
    Max Coin Supply (January 2040)71,595,999 GALI
    Max Coin Supply (January 2050)97,875,999 GALI
    Dynamic Coin SupplyTransaction fees & zGALI minting fees are burnt
    Community donation address (BTC)13vZmvxWcpMxZPr2gtf4QBS8Q2En6kB3mo
    Community donation address (GALI)UUr5nDmykhun1HWM7mJAqLVeLzoGtx19dX
    Community donation address (LTC)MAfouCFTBX4hJWTmAvTpFSuwzUZr4gtxDv
    Community donation address (DOGE)DFY1iAcbX8uQDaFAFQckSGJfYBb6QzTuMi
    Dev Budget (from block 250,001)10% in monthly superblock
    Multisig Dev Budget address (GALI)7U3FMDhKv4j5bzauurPoX1TtqE7hPowSJi

    [ ZEROCOIN SPECIFICATIONS ]
    ________________________________________________________________________
    DescriptionParameter
    Zerocoin v1 activationblock 245,000
    Zerocoin v2 activationblock 245,000
    zGALI automint10%
    zGALI rewards (from block 245,001)1 zGALI
    zGALI rewards (from block 340,001)MN 40%, zPoS 60%
    zGALI rewards (from block 430,001)MN 40%, zPoS 60%
    zGALI denominators1, 5, 10, 50, 100, 500, 1000, 5000
    Accumulator modulusRSA-2048
    Maturity240 confirmations
    Send eligibility20 confirmations
    Fees (mint)0.01 GALI per minted zGALI denomination
    Fees (spend)No fee

    [ PROOF-OF-WORK REAWARDS BREAKDOWN ]
    ______________________________________________________________________
    StagesBlock HeightRewardMNPoWCoin SupplyPeriodStage End
    Stage 1Block 1220,000 GALI60%40%220,0000 days2018-05-25
    Stage 2Block 2-1,5001 GALI60%40%221,4991 day2018-05-26

    [ PROOF-OF-STAKE REWARDS BREAKDOWN ]
    ______________________________________________________________________
    StagesBlock HeightRewardMNPoSCoin SupplyPeriodStage End
    Stage 11,501-12,000100 GALI60%40%1,271,3997 days2018-06-02
    Stage 212,001-22,00090 GALI60%40%2,171,3097 days2018-06-09
    Stage 322,001-42,00080 GALI60%40%3,771,22914 days2018-06-23
    Stage 442,001-100,00070 GALI60%40%7,831,15940 days2018-08-02
    Stage 5100,001-160,00060 GALI60%40%11,431,09942 days2018-09-13
    Stage 6160,001-205,00050 GALI60%40%13,681,04931 days2018-10-14
    Stage 7205,001-250,00025 GALI70%30%14,806,02431 days2018-11-14
    Stage 8250,001-340,00013.5 GALI70%30%16,156,00962 days2019-01-15
    Stage 9340,001-430,00010 GALI70%30%17,055,99962 days2019-03-18
    Stage X430,001-infinity5 GALI70%30%ongoingongoingongoing

    [ COMPETITIVE ANALYSIS ]
    ______________________________________________________
    FeatureGalilelDashPIVXROI Coin
    Public StakingYNYN
    Private StakingYNYN
    Instant SendYYYN
    Private SendYYYN
    MasternodesYYYN
    Decentralized Governance VotingYYYN
    Variable Reward Distribution1NNYN
    Dynamic Zerocoin Proof-of-StakeYNNN
    Proof-of-TransactionYNNN
    Variable Reward BurningYNNN
    Disconnected BlockchainYNNN
    Mobile Proof-of-StakeYNNN
    Term DepositsYNNY
    1 Possible to implement in Galilel using Seesaw algorithm



    [ COMMUNITY ]

    Get in touch with the core team of Galilel, join our Discord channel, follow us on Twitter, Facebook, Reddit, Medium or write a post in BitcoinTalk forum.

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    [ GALILEL WIKI ]

    If you need help setting up master nodes or any other help, you can find it in our Galilel Wiki. There we have summarized FAQ`s, Guides Troubelshooting and further support possibilities.

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    [ MARKETING ]

    Partners and market capitalisation websites promoting Galilel and providing monitoring or masternode hosting services.

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    You can find updated roadmap always on our website at:

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    Executive Management
    Executive Management
    Executive Management
    Maik Broemme
    Christian Grieger
    Manuel Gogoll
    CEO Galilel UG
    CCO Galilel UG
    CMO Galilel UG
    Babyface#7772
    Swooty#7324
    Cryptogerman#8070
    Developer
    Frontend/Backend, Bot developer
    Marketing & Social Media
    Wallet,Blockchain,Apps,Whitepapers
    Design,Website,Blockexplorer
    Content,Report & KPI managment,Campaigns

    Executive Management
    Executive Management
    Pascal Rebholz
    Ehsan Khademi
    CFO Galilel UG
    COO Galilel UG
    crypto5.0#6432
    eshby#4291
    Accounting
    Business Development
    Financial planning & Proposals
    Listings,Business strategy & Quarterly report


    TEAM
    TEAM
    TEAM
    Patric Mainzer
    Ben Arter
    Alex Mesquita
    Schokoladenbrezel 👻#3436
    crypto_ben#2012
    Alex Mesquita#9361
    Head of Support
    Business strategy
    Advisor
    Information Management



    We have not only Desktop Wallets, but also Paper,-Instant and recently an Android Wallet.
    At the end of the year an iOS Wallet will extend the wallet options.
    All Wallets can you download here:

    Wallet Downloads

    [ BINARIES ]

    We release new wallets with new features frequently as we are a blockchain development coin.
    To simplify maintenance you can always find latest version at our website.

    [ REPOSITORIES ]

    Galilel repositories include wallet, backend and daemon source as well as media files.

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    [ EXCHANGES ]

    Galilel Coin can be traded on the following exchanges:

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    ALL WHITEPAPER TRANSLATIONS CAN BE FOUND HERE

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    [ WHITEPAPER TRANSLATION BOUNTY - OPENED - 2019-02-01 ]

    For translating the whitepaper into one of the languages below you will be rewarded with 1000 GALI.
    We do not accept the Google translate translations!

    The following languages are still required:
    Croatian, Czech, Dutch, Filipino, Hungarian, Indian, Korean, Romanian, Slovak, Turkish, Vietnamese

    For Word version of whitepaper, please send PM or come to our Discord



    [ HELP US TO SPREAD THE WORLD ABOUT GALILEL PROJEKT WORLDWIDE! ]

    For translating the ANN into one of the languages below you will be rewarded with 1000 GALI.
    We do not accept the Google translate translations!

    DONE
    Chinese, Croatian, Dutch, French, German, Indonesian, Italian, Russian, Spanish, Vietnamese

    OPEN
    Arabic, Czech, Filipino, Hungarian, Indian, Japanese, Korean, Polish, Portuguese, Romanian, Slovak, Turkish, Ukraine

    [ WEBSITE  |  EXPLORERS  |  GITHUB  |  INFO  |  WHITEPAPERS  |  WALLETS  |  SOCIAL MEDIA CHANNELS ]

    ______________________________
    ______________________________
    ______________________________

    Your galilel.org Team
    « Last Edit: October 09, 2019, 12:09:12 AM by mbroemme »

    sidik7

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    i will support this project , and became a part on bounty this project
    i think this is very potential in future.

    mbroemme

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  • Thanks for all the support! Meanwhile we've finished the Galilel Paper Wallet. You can create an offline cold storage wallet at:

    https://paper.galilel.cloud/

    I've added the Paper Wallet link already to announcement. Also we've partnered with some additional monitoring and ranking sites:

    https://mntrend.com/en/currencies/GALI
    https://coinmarketdaddy.com/currencies/galilel/
    https://ihostmn.com/hostmn.php?coin=GALI
    https://www.mnroi.info/coin/GALI

    PS: In GitHub I've committed already Dynamic zPoS v2 changes for upcoming v3.1.1 release.

    sidik7

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    keeping for update , and growing of feature about GALI ,  increasing of your feature make
    all community happy for use and growing of value in future,

    mbroemme

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  • For the very security sensitive people. We've published the standalone offline paper wallet generator. It is available for Windows, Linux and macOS at:

    https://github.com/Galilel-Project/galilel-paper-wallet/releases/tag/v1.0.0

    mbroemme

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  • A new instant and offline paper wallet has been released which fixes the BIP38 decryption issue some users reported.

    You can download offline paper wallet generator at https://github.com/Galilel-Project/galilel-paper-wallet/releases/tag/v1.0.1

    or use instant paper wallet at https://paper.galilel.cloud

    Already generated paper wallets will still work as before and can be decrypted with this version too.

    1971

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    I will support this project , and became a part on bounty this project.
    I think this is very potential in future. keeping for update , and growing of feature  ,  increasing of your feature make all community happy for use and growing of value in future.   

    mbroemme

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  • Thanks for all the support. As trust is an important asset in crypto currency market, the complete core team members have been added with their identities to this announcement and the website.

    mbroemme

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  • We've published the optional Galilel wallet v3.1.1 update with the following new features:

    1. Block 340,000: Improved zPoS staking after leaving the warmup phase
    2. Added additional and more powerful seed nodes

    You can download the new wallet directly from GitHub: https://github.com/Galilel-Project/galilel/releases/tag/v3.1.1

    If you need a bootstrap file, you can use latest one from website available here: https://galilel.cloud/bootstrap-latest.tar.gz

    Please pay attention that at block 340,000 we will leave zPoS warmup phase and private staker get 60% of the block reward while public staker 30%. Depending of the staking type the masternode is rewarded with 40% (zGALI stake) or 70% (GALI stake). Also pay attention that difficulty is already raising which is very good for chain stability. On the other side it reduces probability to solve a block if low amounts of coins are staked.

    I've updated links in announcement as well.

    mbroemme

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  • As we've been listed on Crex24, I've added Crex24 to the list of available exchanges.

    - GALI/BTC pair at: https://crex24.com/exchange/GALI-BTC

    Also I've extended the comparison table:

    - Added "Dynamic Zerocoin Proof-of-Stake (dzPoS)" which we have already and will enter full activation phase in less than 2500 blocks
    - Added "Proof-of-Transaction" which is currently in development state

    mbroemme

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  • In less than 250 blocks (~4 hours) we will hit the full Dynamic Zerocoin Proof-of-Stake activation block. Almost 900,000 zGALI have been minted already and are waiting for increased zPoS rewards. The anonymous network is coming!

    mbroemme

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  • Another small wallet update (v3.1.2) has been released. It is optional but especially useful for zGALI stakers as we are in full dzPoS phase now. The changes are the following:

    - Block 340,000 - 430,000: Dynamic zPoS v2 will generate correct 6 zGALI
    - Improved performance when listing zGALI mints
    - Fixed zGALI spend when too much mints are selected
    - Fixed missing explorer icon
    - Stability improvements

    You can get it at: https://github.com/Galilel-Project/galilel/releases/tag/v3.1.2

    Announcement links have been updated.

    mbroemme

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  • As our team is growing, please welcome our new core team members:

    - Armand Pers (Designer)
    - Christian Grieger (Front-End & Back-End Developer)
    - Ehsan Khademi (Business Manager)

    We have an official Telegram channel now:

    - https://t.me/GalilelEN

    We are setting up local Telegram communities:

    - Germany: https://t.me/GalilelDE
    - Brazil: https://t.me/GalilelBR

    Everyone who wants to run and manage a local Telegram community, come to our Discord and discuss it with one of the team members.

    Beside this we opened up an Instagram account and will update you regurlary there:

    https://instagram.com/galilel_en/

    Beside this Galilel can be traded now at MCT+ multi currency exchange with > 100 crypto currency pairs:

    https://trade.mct.plus/

    We've partnered with additional masternode and staking hosting platforms:

    GIN: https://p.ginplatform.io/
    Kalkulus Hub: https://hub.kalkul.us/

    There are some news flash articles about Galilel:

    https://medium.com/@eshby/galilel-cloud-2018-a-year-in-review-c39d18a5713
    https://checkthischain.com/galilel-the-multifunctional-fiat-replacer/

    The first whitepaper translations are available on our website:

    - Arabic: https://galilel.cloud/downloads/whitepaper/Galilel_Core_Whitepaper_AR.pdf
    - Italian: https://galilel.cloud/downloads/whitepaper/Galilel_Core_Whitepaper_IT.pdf

    The original announcement post has been updated accordingly.

    mbroemme

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  • The whitepaper translation bounty is still open, see the original announcement in this thread.

    sidik7

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    a good chance for the contributors that have competence in the translator to participate in the campaign of his bounty,
    Hopefully in the future there will be different categories more bounty campaign

     

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