Jengascoin Blockchain Overview
The Jengascoin Blockchain is a new blockchain, built from the ground up and designed to decentralize the 'marketplace' into brokerless, chain governed functions. The Jengascoin Blockchain facilitates the tokenization of digital licenses in the form of NFT tokens, which can be authenticated without a transaction, and can be monetized in the form of optional resale with multiple royalties. Attributes such as exclusivity period, royalties and expiration are enforced by the chain itself through the the use of decentralized on-chain order books. Each Jengascoin Blockchain node hosts a rest API which acts as the gateway through which to interact with the blockchain. The blockchain is currently operational in testnet. Upon mainnet launch, the codebase for the nodes will be released and freely distributed as open source software. The Jengascoin Blockchain seeks to decentralize digital licensing, to decentralize the marketplace itself and remove 3rd party brokers. Furthermore, the Jengascoin Blockchain will incentivize adoption by providing a robust smart contract system which will allow developers, artists, and creators to easily set the terms for their licensed content, and to monetize the potential resale of that content through chain-enforced royalty distributions. The Jengascoin blockchain seeks to reduce piracy by offering a chain-governed optional resale market for license tokens (if the license issuer chooses to allow resale). License issuers have several robust options such as:
- Exclusivity: datetime before which only the license issuer is permitted to sell or transfer their license tokens (no resale transactions can occur before this)
- Expiry: If the license issuer wishes to sell temporary licenses, the license will no longer authenticate after a certain point in time after purchase.
- Royalties: The license issuer can designate one or more addresses, each with its own individual percentage, where resale transactions will distribute royalties upon resale transactions of their license token.
Jengascoin $JNGA Distribution
$JNGA is the cryptocurrency produced by mining the Jengascoin Blockchain. There are several ways to obtain Jengascoin by taking action to support the development and decentralization of the chain itself.
- Mining: Jengascoin is a proof of work blockchain at this time. People who choose to mine Jengascoin help support the decentralization and security of the network and will receive block rewards of $JNGA as a result of these efforts. Mining requires hardware with sufficient resources to mine the chain depending on the mining difficulty, which scales in relationship with total mining power on the network. Upon mainnet launch, you will be able to mine to your own locally running node or to a trusted public node through a mining pool.
- Jengascoin DAO Membership: Jengascoin developers have fractionalized 100% of future Jengascoin Blockchain Network Fee distribution into Jengascoin DAO Tokens. Jengascoin DAO tokens are ERC-1155 Ethereum tokens, each of which represents partial ownership of future network fees within the Jengascoin Blockchain and will also allow the holder to vote and create proposals regarding the direction of the chain itself. Upon mainnet launch, DAO participants will receive the percentage of Jengascoin Blockchain Network fees (distributed as $JNGA) according to the ratio of Jengascoin DAO tokens that are held. Jengascoin DAO tokens may be resold or transferred to others. Holding Jengascoin DAO Tokens also allows holders to actively collaborate on the development of the Jengascoin Blockchain, to make proposals, and to vote on proposals. 74.1% of total Jengascoin DAO Tokens (29640/40000) are available to the public and can be claimed by sending 0.2eth per desired token to the contract address or by using the form on this page to generate the transaction. The remaining Jengascoin DAO Tokens that are not initially offered up for sale to the public will be held in the wallet of the founder and the original developers of the project and cannot be sold or transferred prior to August 9, 2022.
- Jengascoin Giveaway: The jengascoin network uses a utility scalar to determine block rewards. In order to launch mainnet, some degree of premine is necessary in order to create an ititial supply of $JNGA. This initial supply of $JNGA will be distributed, in small quantities, to users who are interested in testing the network, minting an NFT, tokenizing their license, and/or transacting on the Jengascoin Blockchain. The Jengascoin Giveaway is a temporary finite supply of $JNGA that will be given away until it runs out.
[X] Build Jengascoin Blockchain
[X] Create API for Jengascoin
[X] Deploy Jengascoin to testnet
[X] Develop tokenomics for Jengascoin DAO
[X] Complete Ethereum Smart Contract for Jengascoin DAO tokens
[X] Launch public stealth mint for Jengascoin DAO tokens
[X] Develop wrap/unwrap contract
[ ] Develop DAO platform + governor contract
[ ] Jengascoin network fee fractionalization to DAO token holder
[ ] Launch Jengascoin mainnet
[ ] Automate distribution of network fees to DAO Members