- Token name: SSIO (sexService.io)
- dPoS (delegated Proof of Stake) algorithm
- Initial token supply: 50 000 000 (Genesis block)
- Max token supply: 150 000 000
- Initial token price: $0.85 for Pre-ICO period, $1.7 for 1st ICO, $5.3 for 2nd ICO, and $10 for 3rd ICO
- Block time: 10 sec (8 640 blocks per day, about 259 200 blocks per month and 3 153 600 blocks per year)
- Block size:
- About 1 Kbyte per transaction
- Up to 200 transaction per block or more
- Reward per forged block:
- Pre-ICO period: no reward for blocks forging
- First year: 1 token per block
- Next years: -5% each year
- Transaction fees:
- Vary by transaction type
- Source code: Open Source (GNU GPL)
- Default ports: 30333 for mainnet, 30696 for testnet
SSIO network is based on delegated proof of stake (DPOS) implemented by Daniel Larimer.
We use DPOS because of it’s fast and reliable structure, which allows us to forge blocks the every few seconds in comparison to it’s competitors. For example — Bitcoin’s ledger consensus requires an average of 6 confirmations to fully approve every new transaction… and each of these confirmation takes up to 10 minutes for network to proceed.
DPOS network transaction confirmation is much faster than an “average hour” for Bitcoin’s one. Also the network is more decentralized, it causes no excess energy burning by mining, all types of transactions are cheaper and therefore — allover system economy suffer less inflation.
A block time of 10 seconds was chosen because sexService.io is operated by fast transactions with tiny fees. Every forged block will include up to 200 transactions, which will be enough for convenient and stable platform usage.
The minimal network node amount required is 3 nodes, but more of them involves greater security and reliability. And when fork-situation occurs, the system will select the longest block chain available.
DPOS consensus algorithm is based on real-time voting, which depends on nodes reputation. This allows all participant members to vote up for Witnesses which, once elected, will forge next part of N blocks. The order in which they will forge these N blocks is fully defined by their choice.
The elections takes place to choose who’s going to forge a new N blocks in DPOS system. As a result — Witnesses is selected from the witness pool. Voting between stakeholders automatically takes place. After witness selection, system assigns forgings spots to them, and they prepare for block-forging. Next, the creation of N blocks estimately takes few minutes.
The initial token supply counts 50 000 000 tokens (the so-called “Genesis block”), while the maximum token amount is 150 000 000. Because of sexService.io is a social project, the first major part of SSIO token will be distributed among all kind of project contributors, which the Genesis block is made for.
We believe 100 000 000 tokens is enough to support full nodes for thirty years, and after that — transaction fees will become the main node-reward. Block-forging reward is to be “1 token per block” for the first year, decreasing 5% each following year.
The initial token price starts from $0.85 rising up to $10 by the 3rd ICO.
You can learn more about SSIO token distribution in our Whitepaper.
SSIO token specification fully fits sexService.io demands, making it potentially the most promising platform for real-life escort services in near-life future.