Introducing Proof of Brain Token (POB) – Whitepaper

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(Edited)

As cryptocurrency adoption and use continue to grow, more people will see the value in censorship resistant social media on the blockchain, especially when they can earn crypto.

Now that crypto is infecting the hive mind, Proof of Brain (PoB) is the most innovative form of mining that has the potential to be understood, appreciated, and utilized by the masses.

The design of POB token is inspired by Bitcoin, Hive, and LeoFinance.

brain.png

POB is a pure 100% Proof of Brain (PoB) token meaning that the only way the token enters circulation is through PoB rewards that are earned by posting and by curating content with POB staked. 1 token has been issued to @proofofbrainio to enable staking. There will be no more POB tokens issued except through PoB rewards. Like Bitcoin, rewards are reduced by 50% every 4 years.

There are no proof of mining or proof of stake rewards. There will be no tokens issued to a founder or a team. There is a 10% beneficiary percentage when posting on proofofbrain.io. Funds from the beneficiary rewards will be used to maintain proofofbrain.io.

POB has a total supply of 21 million tokens with linear rewards split 50/50 to author and curators. For the first 42 million Hive blocks, the reward pool will distribute 10 tokens every 40 blocks which is 50 tokens approximately every 10 minutes. POB can be burned to promote your post on proofofbrain.io


Discord: https://discord.gg/8vBmmtS9ZU


Posted via proofofbrain.io



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80 comments
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(Edited)

1 token in created and staked.
It means only proofofbrainio can curate and distribute new tokens right ? At least during the coming days.
Or I totally miss something ?

Posted Using LeoFinance Beta

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whoopee - i made it to the proofobrain.io and signed in at least

i have no clue how any of this works

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Congratulations @proofofbrainio! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

You received more than 10 upvotes.
Your next target is to reach 50 upvotes.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out the last post from @hivebuzz:

Hive Tour Update - Financial stages
Hive Power Up Day - March 1st 2021 - Hive Power Delegation
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It seems interesting and promising. I can understand that the redistribution is not based on an inflationary system, but it goes a bit against what Hive can propose. Isn't there a risk that it could be prejudicial to the project?

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it seems like new projects and new communities are springing up on Hive lately. This is all very positive! :)

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(Edited)

Interesting concept, but I have to agree with @handtalk5 that this is what HIVE does or am I missing something?

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basically, but even Hive is not 100% PoB. There are also PoS rewards with Hive. The 20% reduction in inflation every year is also unique.

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Yes the token is different to HIVE, but the actual idea behind it - getting rewarded for creating content - is the same. Also how to you plan to sustain this project after all tokens are distributed in 10 years?

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It will take around 136 years to distribute all the tokens.

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Oh sorry, I must have missed something there

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Yeah, but what's the plan to sustain this project after all the tokens are distributed? :-)

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It's a good question because I think the answer for BTC is to rely on the fees, which POB doesn't have. POB is really just layer 2 though, the DPoS consensus happens on Hive, so the PoB mining would not be necessary to sustain the POB token. However, if we wanted to keep proofofbrain.io's distribution going maybe decimal precision could be increased or @proofofbrainio could fund it.

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See my reply above (accidentally replied to my own reply instead of yours) 🙄.

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if we wanted to keep proofofbrain.io's distribution going maybe decimal precision could be increased or @proofofbrainio could fund it.

Yeah, that was meant kinda tongue-in-cheek, seeing as we have 136 years to work out a solution. Good to see you already have a couple possibilities.

I will be posting later (within the next few days or so) about my assessment of $POB's ability to solve what George Gilder called "The Bitcoin Flaw" (Chapter 22 in his book Life After Google: The Fall of Big Data and the Rise of the Blockchain Economy). Although I don't think $POB fully solves it, it unquestionably (imho) represents a giant step in that direction (with respect to resolving the $BTC contradiction Gilder identified).

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I'm not aware, but that sounds very interesting. Looking forward to reading it!

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At the very least it'd show us kinda what hive would have been like if it was 100% PoB from the start.

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This is what crossed my mind as soon as I read about this too.

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Alright I'll bite this seems interesting! Going to be watching this one to see how it plays out but honestly this is kind of a thought I've had on my mind for years and always wondered how it would work.

Posted Using LeoFinance Beta

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I'm interested to see how PoB.io will compare to Hive, especially when it comes to the quality of created content and how it relates to rewards. Good luck and I'll be watching!

Posted using ProofOfBrain.io ;]

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Interested to see how this experiment goes! I've just wrote my first little blerb, based on my first impression.
For some reason I cannot upload any pictures though, even when I make them really small. just a heads up. If it matters, I'm on Brave browser, and files were jpg.

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Is the use of five decimal places illustrative or is this going to be the precision of this token? Inflation could last even longer than bitcoin's.

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(Edited)

It is very much like Bitcoin's issuance. In the first four years half of all coins to be created will have been created. Then there is a very long tail of rewards. In total 142 years. In total 6,569,999 a century and a half from today.

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I was speaking only of the issuance. Other qualities are different of course.

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Actually, after reading your post I changed the issuance to match Bitcoins. I'm a little embarrassed that I hadn't done all the math and hadn't realized that it would leave so many tokens unissued. Anyway, I think it is better now for making it exactly like bitcoins. No point in reinventing the wheel.

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I agree with this change. There is something elegant about having a token that follows the exact supply curve as bitcoin, albeit on a 12-year lag.

It allows folks in the future to ask themselves, "How does this compare to bitcoin?" as it is today and as it was 12 years ago.

Makes valuation comparisons easier and more straightforward.

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Amazing. Let the experiments begin

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Not sure what the plan is behind token. It could do with some more info to show what it is all about.

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The plan for now is to just copy the economics of BTC and the PoB technology of HIVE and see if we can make something useful. I'm working on a post to explain a little more.

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I really like this! But I don't know exactly why ...

If I can figure out why I find this concept particularly appealing, I'll try to post about it.

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Wow, this is a very cool idea! I always wondered what Hive would be like if it didn't have the DPoS aspect to it. I imagine rewards will still follow big stakes? (The more POB you have, the more your vote is worth,right) In this sense,there would be a selection bias from the start, but this is unavoidable considering the nature of brains, so PoB from the ground up 😊

I'm really interested in seeing where this goes.

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In this sense,there would be a selection bias from the start, but this is unavoidable considering the nature of brains, so PoB from the ground up 😊

That was my thinking as well. No perfect way to launch something like this. Looks like things are off to a good start, though.

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This is a very interesting approach to add value to the blockchain. Hope to watch this take off in the next few months!

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(Edited)

I just tried to vote on another post but since I don't have any tokens it didn't work. And since I can't buy any I have to wait for @proofofbrainio to upvote my comments so I can earn some. Is that correct?

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Is there going to be limits on the type of content allowed to be posted?

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no, not really, except inciting violence

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Nice to know. A place for stories and post with out excessive rules. Proof of brain does not mean boring after all.

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This is kinda mind-blowing. Gonna be interesting to see where this goes, where it ends up, and how it ultimately 'competes' with #Hive and #BTC.

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Interesting concept -- taking the 'pure' aspects of Bitcoin and Hive and merging them together (along with the linear curation rewards of LEO).

Kudos for beginning a truly interesting experiment!

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It seems an interesting concept, in particular this way of rewarding publications at first sight seems more democratic than the one applied in Hive.

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I find the way the token is distributed and the philosophy behind it very interesting. I will keep an eye on the following publications to find out more about the project.

Posted Using LeoFinance Beta

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I like the progressive concept of POB tribe. I will be participating as well.

Was hoping that I could buy but there are no sell orders in H-E.

Anyway, I'm looking forward to mining some and use it to curate as well.

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What is the tokenomics of this token?

what benefit I get by holding this token? How can token sustain it's value and price.

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What tokenomics info do you want?
The benefit of staking the token is the ability to earn curation rewards. There is currently no price as there have been no sales.

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Love it, following this project with great interest.

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Hmmm, I'm intrigued! First I'm hearing of this project. Will be following along to see how it goes :-)

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Sorry I found this post today...
I have delegated some HP to the account but still the POB delegation did not reach my wallet... is it still possible?

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Could there be a better community
Of valued writers in the blockchain?
There's not, for I see opportunity!
Let's all hail the great Proof of Brain.


Posted via proofofbrain.io

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