Written By Abdun Nur
A blockchain is a public database that irreversibly documents and authenticates the possession and transmission of digital assets, to achieve security each block of data is given a hash and that hash will rely on the hash of the previous block, and this can be checked to prove continuity.
Unlike bitcoin which relies on mining to generate more bitcoin, the advancing cryptocurrency requires an external guarantee to generate an advance, interest and fee free of more cryptocurrency.
In this model the only way for a coin to be created, is as an advance that must be repaid, a zero balance can always be established, through the comparison of existing coins, to the guarantees to advances of coins.
Each account holder has their own blockchain, and interactions between account holders, nodes, is structured in nodes and hubs polycentrically.
The account holders blockchain is key pair encrypted and held as data within the network, the account holder has the private key, using the RSA (Rivest-Shamir-Adleman) a public-key cryptosystem. Even if their private key is discovered at any point, the blockchain is still secure, even if the blockchain is broken of one account user, the zero balance comparison maintains security and continues to prevent fraud.
The local hub has an independent dual blockchain which records all transactions of its nodes, each nodal account holder communicates with the hub using a public key, that message is structured in two connected parts, the first part is a sequential key unique to that node, when communicating if a message arrives out of sequence or with an unrecognized sequential key, the attached message is deleted unopened.
The sequential key forms the bondsman’s account number, and identifies the account node within the network.
Nodes are organized by location globally; a hub is a localised nodal grouping. Once other platforms, such as the allodium platform, bonding platform or trading platform etc. are attached, it would result in the advancing cryptocurrency platform transactions being predominantly between geographically local exchanges.
Link – Trading Platform
Link – Community Formation Platform
The hubs interact with one another, and every transaction identifies the hubs involved. Each transaction, before acceptance, is checked for a mutual zero balance on the system, through checking advances compared to external guarantees.
The network interacts peer to peer, and when downloaded onto a computer by a bondsman, the software builds a sandbox, which functions as a separate operating system, with a window of access from the operating system of the host computer.
To join the advancing cryptocurrency platform requires a sealed and witnessed bond, downloaded, and after completion, witnessed and scanned back onto the platform. This model is not open to the public, and excludes certain groups from any access, such as government employees, psychopaths, corporations, trusts, any constructed legal fiction etc.
To access your newly created account you must provide a face/ear scan and a voice scan, each time you wish to access the network a random sentence is generated by the system which you read, and the system checks your voice, then you are able to enter your password, if your password is wrong you must wait 2 seconds to try again, if wrong again you must wait 4 seconds to try again, if wrong again you must wait 8 seconds to try again, at each failure the time to try again is doubled.
Each bondsman uses an sequential account number on the network, but between bondsmen, a bondsman’s invented avatar is used in interactions between bondsmen, no legal names are ever used on the network, nor titles (Mr-Dr-Miss etc).
There are three basic methods for an advance to be generated on the system, all three are related to external guarantee:
On the trading platform the advanced cryptocurrency can be traded, if traded for fiat the value of fiat is determined by the platform based on its purchasing power, this is done by examining the commodities market, combining the fiat values of all perishable goods and dividing by a predetermined number, to achieve a fixed value in purchasing power, the currency cannot be traded externally to the platform.
This means the value in exchange for any fiat currency is always fixed to the value of its purchasing power only.
If you wish to trade the advanced cryptocurrency for fiat, the platform will allow anyone in the bond to buy your coins. To buy coins they transfer the amount of fiat, in the denomination the seller dictates, for the buyer’s desires amount of coins, the buyer’s fiat must be confirmed deposited into the sellers nominated bank/PayPal account, before the coins are released into the buying bondsman’s account, this continues until all the coins placed on the trading platform have been traded, by as many trades as are required to trade them all. This method can be used to pay bills, placing coins onto the platform and allocating a set amount for each nominated bank account, with a reference attached to what payment it represents, the buyers then transfer funds directly into the account of the sellers outstanding bill.
This is a model that allows a completely independent social structure and ends the monopoly presently imposed by the hierarchical corporate (unwritten) social contract model.