Repost from the Official Beacon Medium
At the end of September, it was reported that another exchange had been hacked and $60 million USD was stolen. More bad press for cryptocurrency. It can seem endless at times. When will good news become the norm when the media is reporting on the happenings of crypto? The reality is, we have to create it from the inside.
With that in mind, we would like to introduce you to Beacon. A multi-platform utility cryptocurrency whose endgame is to formulate, fund, and execute charitable initiatives. There is a lot to unpack in that sentence so we want to break it down for you into four simple attributes.
Beacon Coin
The Beacon coin is a Proof-of-Stake masternode coin created to make a difference in the real world and support an ecosystem of platforms. Designed as a long-term, low inflation cryptocurrency, Beacon is a multi-faceted coin that aims to bridge the gap between a strong investment and achieving something noteworthy.
The team has worked with several projects over the past year and through that experience has designed a coin that will reduce any risks of hyperinflation. here are some of the coin details:
Algorithm: Quark
Block Time: 70 Seconds
Max Coin Supply: 80,000,000
Masternode Collateral: 10,000
PoS/MN Split: Up to Block 100,000–45% PoS / 55% MN
After Block 100,000–20% PoS / 80% MN
One of the most important details for Beacon is the breakdown of reward phases, specifically during the first year of the coin’s life. You can see that breakdown here:
This system of rewards creates a pseudo-bell curve reward structure that slowly increases the number of rewards per block. The rewards will peak at about 6 months after launch and begin to decline slowly as we approach the end of the first year. After the first year, block rewards will decrease by 9% annually.
A reward structure like this flattens and lengthens an elevated ROI period for the coin. instead of having extremely high ROI for only the first month and have it crash, this will provide a much more managed release of coins against demand for the coin. It will also help offset the ‘accepted early life cycle’ of a coin listed below.
As you can see, Beacon’s reward structure runs opposite this graph. A healthy offsetting occurs. It allows for early investor to still benefit while allowing for a constructive ROI to be established over the first 6 months of the coin. One of small details the Beacon team wanted to address in the design of the coin.
Beacon Foundation
The primary vision of Beacon is a cryptocurrency that can change the way the general public sees crypto and will make a difference in a number of lives around the globe. An ambitious vision but we at Beacon have a clear plan of how to accomplish this. Our team’s slogan is “Dream Big, Execute Small.” Everyday we push the project forward by focusing on development and game planning for the future.
In order to achieve this level of impact for the foundation, Beacon must first be able to fund them. A small portion of the block rewards ( approximately 7%) will be deposited to the Beacon Treasury through masternode rewards. While helpful, the Beacon team knows that block rewards alone cannot, and should not, be used solely to bring this vision to life. We’ll discuss the plans for revenue generation in a minute.
Beacon will continue to grow its Treasury and funds and establish a real world foundation in Q2 2019. The foundation will formulate, fund, and execute its own initiatives across the globe. Starting on a small scale, these initiatives will grow in size and scope as the funding increases. Additionally, the foundation will be made available to third-party crypto and fiat donations in the near future as a philanthropic destination for donors.
Existing outside of centralized governments and financial markets, the Beacon Foundation will be able to make a positive impact on an international scale and also be expedient and reactive in great times of need. For example, if a natural disaster were to occur, the foundation could act swiftly and en masse to help those in need.
Beacon Ecosystem
In order to fund the foundation and take pressure off of the reliance of block rewards, Beacon will launch multiple revenue generation projects. Currency is only as effective as the ecosystem that it serves. While many projects focus on the specificity of a single utility, Beacon will turn that idea upside down. Like a true currency, the Beacon coin will be used across a collection of projects.
However, while some projects focus on newsworthy partnerships and drumming up demand through social media, Beacon will create its own demand from the inside. Our focus is to create great platforms that cryptocurrency investors want to use. Through this approach, Beacon will become a utility coin for not one, but a plethora of platforms.
Two platforms already under development are the Beacon Arcade and the CryptoSwag online store.
Beacon Arcade
Projected to launch in Q4 2018 is the online entertainment platform Beacon Arcade. Staying true to the mission of bringing a little fun and community back to crypto while doing good works, the team wanted to build something we were all passionate about. Starting out with a few classic, popular games, Beacon Arcade will grow into a comprehensive entertainment platform that will be accessible to all cryptocurrency investors.
BeaconArcade will accept Beacon exclusively as its game coin. The payback range for any game on the platform will be 90%+, allowing users to enjoy the platform while allowing a small fraction of revenue to be generated for the platform’s continued development and maintenance. The platform will host giveaways and other prize-winning activities and tournaments. A user registration and Beacon web wallet will be utilized to maintain security at all times.
Beacon Arcade will have an Affiliate Program to incentivize users to share the platform with their friends and audiences. Users will earn 3% of what is deposited by users via their link and the coins will be sent directly to their web wallet on the platform.
CryptoSwag
Projected to launch Q1 2019. While other online stores exist for cryptocurrency merchandise, CryptoSwag will focus on brick and mortar partnerships allowing for cross promotion as well as revenue sharing through crypto payment gateway integration into their online stores.
Currently, CryptoSwag has already acquired its first partnership with (Apex Wraps) <link&logo> located in Decatur, IL; a successful decals and wraps company with 15 years of business under its belt. More partnerships are currently being explored and negotiated to offer a growing selection of cryptocurrency and technology-themed merchandise.
Beacon will be the preferred payment option, garnering a projected 10% discount on all purchases. BTC, ETH, and LTC will also be accepted, with other currencies to be added in the future.
Beacon Arcade will have an Affiliate Program to incentivize users to share the platform with their friends and audiences. Users will earn 5% of purchases made by users via their link, sent directly to their web wallet on the platform.
Beacon Incubator
This is the most important attribute of the Beacon project. An ecosystem needs people to maintain it and projects to populate it. Beacon opens its door to developers who have a great idea for a utility platform but lack the resources, network, team, and community to bring their idea to the finish line.
By joining the Beacon team, developers will be able to lead their own projects, collaborate with the other developers already on the team, and share in the success of their project once it begins producing revenue. In return, Beacon will be the primary utility coin of their project and revenue will be shared between the developer, the Beacon team, and the Beacon Foundation.
If you have a great idea and you think it would be a great fit inside the Beacon Ecosystem, please reach out to any team member. If we agree that it could be a beneficial project to take on, you will become the Project Lead and we will help you realize your vision within the Beacon framework.
Wrap Up
Beacon was not designed for the short term. There will be plenty of things that we as a project will do differently that will seem odd. However, it was all meticulously planned out in order to create a project that could stand the test of time. A lot of MN coins today have very short windows of profitability, usually propagated by massive ROI percentages and short-sighted profit takers.
That is something that we at Beacon want to stay away from. It may take time for our vision to catch on in the crypto-verse. It’s not very often you come across a platform that wants to be anti-hype, anti-FOMO, and only wants investors who are interested in the long term. But we know the right investors will see how important this is.
Thank you for taking the time to check out what Beacon has to offer and we looking forward to working with you.
The Beacon Team
Discord: https://discord.gg/MM3dwxY
Twitter: https://twitter.com/BeaconCrypto1
Telegram: https://t.me/joinchat/HBDcAgsfx9EZwiL2CFeQhw
Medium: https://medium.com/@beaconcrypto
Reddit: https://www.reddit.com/user/beaconcrypto
Youtube: https://www.youtube.com/channel/UC15WJiQOcsKv7ictCPb50EQ
Nice post, Very good information.
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