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Notes about Tau-Chain, Agoras, and the Presale

posted Feb 12, 2015, 3:48 PM by Ohad Asor   [ updated Mar 18, 2015, 2:06 AM ]
Dear Readers,

After receiving some feedback from the community, I'd like to make a few notes about our projects.

It is important to mention that Agoras, being a unified generalization of Zennet and Bitagoras and planned to implement an ability-rich market, can be implemented partially without tauchain yet fulfilling all Zennets' and Bitagoras' features. This, of course, means giving up the far going features tauchain can give. At any case, the presale is for agoras' coins, and I'm obligated toward the buyers to supply them a platform - whether it is over tauchain or not. And I will do. Obviously, the better option is doing it over tauchain.

Tauchain is designed to be the fairest system on earth: the users set the rules(=programs=networks, e.g. a currency). It is not an easy task! Look close into it, and you'll find one big chicken-egg problem. Far to mention, on tauchain itself there's no sale, no premine, not even coin. Tauchain's development isn't actually funded, and tauchain will give no preferences to devs whatsoever, as under pure decentralization philosophy. Surely, if the users decide to give more power to one or more entities, it's their decision, since they literally determine all rules. But when tauchain first goes on air -- all participants are inherently equal. If you find how to make tauchain even more fair - welcome to the very questions we ask ourselves, and please tell us your opinion.

The Bootstrap stage mentioned on the About Tau-chain pdf comes right when the system is alive. At this early stage, probably mainly people deeply interested at e.g. tech, internet, law, ethics, or economy, will take part of the rule-making of the very basics of the system, mainly the rules of making rules (equivalently: what are the rules for changing the rules). With time, the system's ontologies will be able to express more and more real-life knowledge and software, making the network's strengths accessible to everyone, namely the Maturity stage.

Back to Agoras, I'd like to point out that my old promise that coins that will not be sold will be destroyed - is valid. Coins not sold up to agoras' genesis will be destroyed. Something different indeed is the coin being rather a monetary coin, in contrast to Zen coins that were planned to function as a commodity. Because agoras is a multi-purpose market, its coins now seem like more a currency and less a commodity. Since we're speaking about coins of a much bigger economy, we also modify the premine setting: the Foundation will keep only 2% of the coins, plus another 1% dedicated for 3rd party projects over those platforms. 97% percents will be sold over time, again up to the coin destruction above.

I'd like to mention that the situation isn't that we're full with money and only want more, but we do need funding as a vital part of bringing fully featured and top quality results. We do not have spare funds by all means, and your support is very important to the projects' success.

The estimated roadmap given successful funding is as follows: I estimate it will take up to two months until a bare tauchain network will be on air. Then I estimate another sort of three months to implement an initial cryptocurrency over it. Another three or four months are estimated for an initial release of the Agoras network.

Please consider that tauchain is here for us to collaboratively and intelligently make the rules of the net. Which rules would you offer for the very rule-making? Please share your thoughts on the forum. Your opinion is very important.

With deep respect,