"RES"

A token that runs a browser-based open-source peer-to-peer network encapsulating a bittorrent layer incentivizing content curation & distribution.

Specifications *

Block Reward

The initial block reward is 16 RES per block. A block is generated every 2 minutes. This block reward reduces over time (see Halving) to give an incentive to early users of the platform. Eventually each block will have the same reward.

Halving

The block rewards are halved every 525800 blocks, which is approximately 2 years at an average time of 2 minutes per block. The block reward is halved till it is 1 RES and stays constant henceforth.

Proof of Work

To avoid an identity conflict, a Proof of Work (PoW) based SHA256 algorithm is used. The miner solves a computationally hard problem which is decided by the difficulty level to mine a block. The solution to the problem shows proof of the miner's work in obtaining the block and hence there is no conflict in the identity. The SHA256 algorithm is a one way hashing algorithm which provides security not only to the network, but also the transactions as everything is given a unique hash value.

Difficulty Re-target

The difficulty level of a block determines how hard it is for a miner to get the hash value of the block. Initially the difficulty will start at 1, which is the lowest possible value, and will increase with subsequent blocks. The difficulty level is calculated as a moving average of the past 2016 blocks. The difficulty may increase or decrease to ensure that the average block time is approximately 2 minutes.

Frequently Asked Question


  • What is Respectonomy and who can use it?
  • Respectonomy is a decentralized, self-moderated social network system that gives the user the freedom to share their thoughts without the fear of censorship while rewarding them for it.
    Respectonomy is the Economy of-
    1. Bloggers, Book Authors, Journalists etc.
    2. Free speech activists and supporters,whistle-blowers.
    3. Miners.
    4. Earn by becoming Publisher, by sharing articles of an author, and making content available even in absence of the author.
    5. Censorship Resistant.
    while RES is the currency of it.

  • How does RES work in relation to content creators as well consumers?
  • The creator will use Respectonomy platform to publish and organize his content. When they publish their final content with price tag of their own, they will have to pay some fees in order to publish that content. Once the consumer finds the content of his/her interest, they may be notified that their favourite content writers have published new articles and that they will be notified based on their list of favorites.

  • How Can I Use Respectonomy Platform? Do I need to download any special app?
  • No. Respectonomy will be a browser based platform, The platform itself is a mining pool which runs in the user's browser background.

  • What kind of content can I find on Respectonomy's Platform?
  • Well, it can be anything.
    You can find all kinds of content such as books, articles, blogs, finance, uncensored articles, breaking news etc. So it's upto creators to understand their audience’s taste and publish content accordingly.

  • How and where is my content published while using Respectonomy platform?
  • When the writer is ready to publish a content, they simply upload the content to Respectonomy platform. For content hosting, a new folder is created in the user’s device and the uploaded content is stored in that same folder. Unlike the conventional systems where the content is hosted on some central server. The consumer who wishes to read the content will download the data from the writer's' device directly.
    In respectonomy the user’s device acts as a server. Users can also publish the content by buying the content from any author and re-share the same.

  • How do I get paid?
  • There are three parties practically using the plaform-
    1. Writers/Actual owners of content
    2. Publishers- Those who re-share the content
    3. Consumers- the readers
    A writer's primary income is from the price which they have set for the published content. Publishers can earn from re-sharing the same content but they have to pay the original price to the author. Consumers can also earn by simply running a browser and mining in the pool. RESPECT(RES) is the only currency in which all the dealings are done on Respectonomy.

  • Does Respectonomy platform run on all devices?
  • Being a browser based implementation that is completely written in javascript, the platform is independent of device, build, architecture, and OS.

  • Does Respectonomy platform cost anything?
  • No. Infact using our platform rewards from activity on the platform and mining.
  • What protocol does RESpect and Respectonomy Platform use?
  • RESpect token uses an entire algorithm of Bitcoin protocol and also using Proof of Work algorithm for generation of RES tokens. Respectononmy platform uses the modified WebRTC and Bittorrent protocol.

  • What is RES mining pool and how do I join the pool?
  • RES mining will have only one Single Pool. Everyone will contribute their hashing power to that pool and get RES accordingly. One can start mining just by being on Respectonomy platform where mining will be done in background of the browser.

  • Can I use Bitcoin on Respectonomy Platform?
  • RES is the only currency of the platform. However, you can make the initial purchase of RES tokens in the crowdsale using bitcoins.

  • Why RES is the only supported currency in Respectonomy protocol?
  • It is necessary to implement various types of transactions in order to secure the network and its content, so we built our own blockchain. RESpect Token is used as a reward for Content writers, publishers and consumers for their activities on the platform.

  • What are the coin specifications? *
    • Block Reward- 16 RES for first 2 years and the supply halves every 2 years till it reaches 1 RES which continues till infinity. We decided this as we thought it was scalable considering the reward system which is necessary to incentivizing the participants.
    • Block Time- 2 minutes