If you find white papers to be complex, cryptic, overly technical, or worse yet painful to read- this is for you! I’ve taken the liberty to translate and demystify the official BRIXCOIN White Paper to the best of my ability with the developers’ guidance, assistance, and patience. They’ve proven to be genuine, forthcoming, passionate about helping disadvantaged communities, and extremely transparent in their plans. I trust you’ll gain clarity on their vision, purpose, and integrity, along with unrestricted peace of mind regarding the implemented safety mechanisms that will ensure BRIXCOIN’s unconditional success and prosperous longevity. So, without further ado let’s get into it!
Sincerely, CryptoSassy An unapologetically unhinged skeptic of politics, hype, leprechauns, Jehova Witnesses, and get rich quick scams.My weapons of choice and seduction are my unbridled wit and charming sarcasm accompanied by my typical Arian bluntness. I'm passionate about justice, personal development, productivity hacking, and all things crypto.
P.S. I’ve copied the official Brixcoin whitepaper and immediately underneath I’ve highlighted the translations in this color.
BRIXCOIN A Crypto Currency Built For Communities THE BRIXCOIN COMMUNITY - www.brixco.in Abstract. A crypto-currency based on Bitcoin, the work of Satoshi Nakamoto, with various improvements such as a two-tier incentivized community network, known as the (BMN) BRIX Masternode Network. Included are improvements such as PrivateSend, for increasing fungibility and InstantSend which allows instant transaction confirmations without the need for a centralized authority. Without the initiative of Satoshi Nakamoto and the team that made Bitcoin real and their continued work to build upon that vision, Brixcoin and the currencies that came before it would not exist. We recognize the power of the original Bitcoin creation and we honor the spirit of open source and the financial revolution it embodies, by taking what exists and striving to apply it to the benefit of communities around the world.
Simplified Translation: Brixcoin has implemented features to: ● Maintain fairness in mining while stopping miners with heavy duty processing power from dominating and potentially crashing the coin’s value. VERY SMART! ● Ensure faster (instant) confirmations. Say goodbye to waiting for hours or even days. What’s a 2 tiered incentivized community network (BMN) BRIX MASTERNODE NETWORK? To better understand this, consider that most coins (like Bitcoin) only have ONE level or network consisting of the wallet and blockchain. So this means that there are miners who make the coins, and people who spend the coins. However, Brixcoin will have TWO levels/networks. This first level will be the standard just as described above. And the second level/network is the masternode network that can be used to drive the “voting” mechanism (the initiative to help disadvantaged communities). This secondary network will help allocate funds for charitable projects.
BRIXCOIN VISION Putting Coins In Wallets & Cash In Pockets The BRIX Community Comprises Many Individual Parts Molded Into A Collective To Benefit Impoverished Communities Worldwide ... ‘Brick’ production worldwide is one of the largest impoverished industries & their communities are some of the poorest in the world. THIS was the initial driving force behind the creation of BRIX. This is, by no means, the only project worthy of our time and effort as a community. However, even if we save a single ‘donkey’ in the process, we will have accomplished just one of our long list of project goals. During this vision, we encourage all BRIX Community Members (BCM’s) to participate and share their hopes and dreams, so that we may amplify & support those members to their ultimate goal. https://www.antislavery.org/report-slavery-india-brick-kilns/
Brixcoin will donate a percentage of proceeds to VARIOUS charitable causes that will be voted on by the members of the community. You’ll be able to make a difference in the lives of those less fortunate. Please note that this is NOT limited to the brick industry.
Bitcoin, Dash & The Cryptocurrency World Dear Prospective Brixcoin Community Member, It is important for you, the reader of this white paper, to understand the origins of the Brixcoin currency and the origins of much of the technical content of this white paper. Brixcoin is a code fork of the Dash cryptocurrency. That means we took an existing open source licensed project and created a copy of it and then over time have been writing our own code and tweaking the existing code to enable the project that we envision. The Brixcoin project and BRIX Community Members (BCM's) will become the defacto mechanism, method and driving force behind the Brixcoin vision. We must though, acknowledge our gratitude to the Dash team for the high-quality platform they have built which has allowed us to launch and build the Brixcoin network and blockchain. Without their
tireless work and dedication to creating a powerful base upon which to build our vision, Brixcoin would have been much more difficult to accomplish. We want to thank and recognize the Dash team for their work. While we are pursuing a different path technically and strategically, it is in the spirit of Open Source, that we share our code just as Dash shared theirs. All of us collectively, in the cryptocurrency community, are working toward a better future for the planet. Thank you, The Brixcoin Team Brixcoin acknowledges that they were inspired by DASH coin, and as such they implemented the best elements that are proven to generate success. The BRIX creators used it as a model upon which they added their own ideas to introduce BRIXCOIN. FACT: Dash is the fifth-largest cryptocurrency by market cap and its community has hailed its security measures and instant payment. Needless to say, BRIXCOIN is poised to succeed and thrive because they’ve adopted Dash’s best features!
Fair Public Launch Brixcoin does not have any developer pre-mined blocks. Because there are no PRE-MINED blocks, BRIXCOIN is poised for stability! FACT: Pre-mining benefits those who are most invested (miners, developers, founders, and their friends), the proverbial “inner circle”. Pre-miners can profit greatly i f a coin erupts while some would argue that they deserve it, this is very dangerous because they can greatly manipulate the market. EXAMPLE: The inner circle can drive up a coin’s price and as investors see the positive activity they jump in and help raise the coin’s price/growth. But, the inner circle can dump the coin to cash out and get a big payday therby leaving investors holding the bag and collapsing the coin. This is called a “pump and dump”. Brixcoin has not been launched through an ICO or as part of an existing ICO. These developers are NOT poised to jump ship, they’re committed to their cause. Often times ICOs can be shadier than a giant willow tree! FACT: Many up-and-coming coins rake in millions with just a website and a (hard to understand) white paper. This is why ICOs have been banned in countries like China, India, North and South Korea with more bans coming. Additionally, the SEC (Securities and Exchange Commission) is currently eyeing ICOS in the United States. While it’s not fair to say that all ICOs (initial coin offerings) are scams, it’s definitely accurate to say that most coins whose development teams
disappear after getting a big pay day are launched as ICOs. Since BRIXCOIN is not launching with an ICO users are positioned for success and staying power. Playing with an ICO is as smart as approaching a Wolverine with a ‘pet me’ sign. No Initial Investor Funding has been used for the BRIX coin project. Brixcoin's initial infrastructure funding has been provided by the developers directly. These developers are fully committed and confident with the infrastructure and vision of BRIXCOIN, so they put T HEIR o wn money where their mouth is! In other words, they won’t be mysteriously joining the witness protection program. Without “initial” investors who are poised to jump ship and potentially crash BRIXCOIN when it gains traction, you can confidently say sayonara to the greedy sharks!
Preparation For Day 1 Launch 23rd - 24th August 2018 1. Two dns seed nodes will be launched/activated The seed nodes are the 2 computers that “kickstart” the coin to provide the addresses and index of the coin. It’s like the telephone directory of the coin. 2. The Brixcoin Special Projects Initiative wallet will be established and activated to collect the rewards from the primary masternodes for disbursement to The Brixcoin Special Projects Initiative. The wallet that collects the first mining rewards is set up and activated to start the first 50 master nodes. Masternodes are computer wallets that keep a full copy of the blockchain (ledger of transactions) in real-time so it’s ALWAYS up and running. These masternodes will let the coins move through the whole network a lot faster thereby allowing these coins to show in your wallet quickly! 3. One single node (brixcoin wallet) cpu miner instance (4 cores) will be launched to secure the coins for the 1st 50 masternodes (50050 BRIX Coins) One computer for the wallet will be activated to ensure the coins for the first 50 masternodes. Keep in mind that 1,001 Brixcoins are needed to start a masternode. 4. Once the required 50050 BRIX have been secured the miner instance will continue running on 1 cpu core until the 1st 10 masternodes and wallets are active and processing, all coins generated from this mining instance will go into The Brixcoin Special Projects Initiative wallet for later disbursement back into the community. They’ll (Brixcoin developers) mine the first 50,050 coins and these will go into their shop wallet. When people purchase a masternode, the coins will go from the shop wallet into the buyer’s wallet. This requires a s mall amount of processing power (1 cpu core) from a miner that will run in the background to enable the transfering of those coins. Once the first 10 masternodes are up, the
network will start running on its own, it will be self sustaining. These 10 masternodes/wallets can then start communicating with each other. Any excess of coins from this process will be placed into the wallet for charity (Brixcoin Special Projects Initiative Wallet). The developers have agreed to place any excess into this wallet as opposed to their own wallets/pockets! 5. Two primary masternodes will be setup and configured. The first 2 masternodes will be created when the first 2,000 Brixcoins are mined. 6. The initial startup of the 2 primary masternodes will then kickstart the masternode network. The first 2 masternodes will be the catalyst for the rest of the masternode network, this is what ensures speed, transparency, and self sustainability. 7. An official announcement will be posted on the bitcointalk forum.
Day 1 - The Launch - 25 August 2018 The Official BRIX Coin Launch Day 1. 25 August 2018 Community Website Portal launch and open for registration of masternodes. The website will be unveiled and people (like you) can purchase masternodes. 2. The initial windows desktop wallets will be available for download and activation. Everyone will be able to download and activate their Brixcoin wallets. Hooray! 3. Initial Masternodes and masternode startup coins(collateral) will be allocated via shop sales to the initial masternode owners for setup. Savvy folks who purchase a masternode will then start receiving their initial 1,001 Brixcoins. 4. Initial Brix Coin Community Member’s masternodes will be activated to start securing the network. Once your masternode is up and running you’ll start earning Brixcoins while assisting in securing the network. 5. The activation and onboarding of the masternodes will commence. Brixcoin has launched, it’s PARTY time! Can you say cha-ching? :)
Technical Info - Primer Block Time Target
Brixcoin runs at a proposed “two and a half minutes” block time. Brixcoin uses this block time as a compromise between Bitcoin’s long block time, and an excessively fast block time. This adds to Brixcoin’s overall security and stability. Hooray! Brixcoin is ( theoretically) projected to take 2.5 minutes to verify one block (or series of transactions). In order to verify a block, miners must complete very complicated mathematical problems/algorithims for which they are rewarded. FACT: Bitcoin users can attest to the time fluctuations (15 minutes to 2+ MONTHS), depending on how busy the network is.
Reward Halving (BRIX Coin Supply) An approach similar to DASH has been taken to restrict the inflation of mining with BRIX, using a 7% reduction of the coin supply per year. This is done as opposed to the halving principal being implemented by many other currencies. In addition, the supply of each block is directly tied to the amount of miners (Hash Power) on the network; more miners results in lower mining rewards. Production of BRIX is scheduled to carry on throughout this century and onto the next, slowly winding down until near the year 2155, when the theoretical production of new coins will come to an end. Nobody truly knows what the near or distant future holds for us, however we envision a future for BRIX that encompasses our grandchildren and their grandchildren into the future. Brixcoin will control how fast the coins enter the market. In addition to the previously mentioned 2.5 minute blocks, t he speed at which Brixcoins can be mined will be reduced by 7% each year. FACT#1: Scarcity is what makes coins valuable. In contrast to other coins you won’t have to wait up to 4 years because Brixcoin’s yearly reduction is strategically done to create value precisely by having a consistent reduction in potential “minable” coins every year. This protects you and members of the Brixcoin community. FACT#2: This is powerful because it helps protect the value of Brixcoin! BRAVO! The coin production will gradually slow down (only 18,000,000 will ever be made), it’s estimated that this will happen by 2,155. Unfortunately there’s no such thing as a reliable crystal ball, those sold at Walmart are cheap and made in China. But Brixcoin’s features are poised to offer the crytpocurrency world a stable, transparent, and fair coin that will outlive us and our grandchildren thereby creating a legacy that gives you a reliable currency that outperforms other cryptocurrencies.
Block Reward Split
Each block reward is split between miners, masternodes and BRIX Decentralized Governance (Please refer to the Decentralized Governance section below).
The initial mining rewards split (MRS) will start at 20/80 in favour of the miners. This initial split will encourage BRIX members to help jump start the BRIX network by contributing some of their cpu/gpu/asic resources to securing the network. Upon launching the mining rewards will be split between miners, masternodes, and the decentralized governance. Eighty percent will go to the miners and other 20% will go to the masternodes (the people who buy the masternodes).
Figure 1 Final Rewards
The eventual split will be 45% to miners, 45% to masternodes, and 10% to the BRIX decentralized governance. This split rewards the miners for processing blocks while securing the network. It rewards the masternodes for securing the masternode network and processing InstantSend and PrivateSend. Then, the split will gradually change to 45% for miners, 45% to masternodes, and 10% to special projects for disadvantaged communities aka, the decentralized governance budget. Every x amount of blocks, the reward changes by a couple percentage points. With the progression of time the miner will get less rewards as the masternode gets more until it eventually reaches the target of 45% for both the miner and the masternode. FACT: This is a BRILLIANT safety mechanism that deters greedy miners who love pumps and dumps. Say sayonara to the sheisty sharks! Brixcoin is designed to ensure smart staying power and longevity for your future and your childrens’ future. The masternode network can also be used for future innovations such as an application layer for performing various community functions. The more miners and masternodes there are the more secure the network becomes against attack. Initially the masternode’s function is to make transactions happen quickly. Since a masternode is also a computer, its computing power will be harnessed to execute various functions for the network, such as the budget governance
system. This lets you propose a project that is voted on by the masternodes’ owners. The masternodes will also handle the budget allocation for the various projects. EXAMPLE: If you asked for $10k for a specific cause but you don’t need it in a lump sum, the masternode could set up increments of $1k to be allocated every month to your project/cause. Pretty cool, huh? Additionally, the masternodes’ intelligent management functions serve to secure the network from attacks. Think of the masternodes as your neigborhood watch group. The 10% share to the decentralized governance is not "paid" out as part of every block reward but rather is distributed through the superblock approximately every 30 days once activated. The superblock pays out to qualifying "Special Project Proposals" in order of yes minus no votes (The mechanism by which the winning proposal is chosen) in that month's proposal queue. The 10% share for decentralized governance or management does NOT come from every block! Instead, the 10% is distributed through a special block called the superblock. Miners will ocassionally uncover hidden Easter eggs aka special blocks. Upon reaching block number 250,000, the management (governance) system takes effect. Then, 10% of mining rewards will go into the super/special block that controls the funds earmarked for special projects. These will be paid out on a 30 day cycle. Using the previous example, the $1k will be paid out every 30 days. Please Note: The decentralized governance budget is the fund that’ll be used to run special projects, this is the h eart of Brixcoin. The mission to help disadvantaged communities is the force that gives Brixcoin’s developers more drive than NASCAR!
Coin Supply Brixcoin’s theoretical coin supply is approximately 18,000,000 coins. Only 18 million Brixcoins (or there abouts) will ever be created. But don’t fret, once all the coins are created you’ll still be able to transact in incremental amounts such as 0.000001 and so forth. This means that there is an infinite number of Brixcoins between 0 and 18,000,000. Yeehaw!
Figure 2 Theoretical Supply
The above goobly gop is very seductive and sexy to geeks. To be honest, they’re probably the only ones who can undersand this, but don’t worry this is just a little itsy bitsy part of the formula that will ensure Brixcoin’s unbridled success! Figure 3 Coin Supply Calculation
Try the calculation estimates here: https://repl.it/@awsafrica/SecondAlienatedIntercept
Difficulty Adjustment - Dark Gravity Wave (DGW) Many coin networks could be easily manipulated by miners because the difficulty is only adjusted over large block spaces. This means large mining groups could mine coins e.g. 1024 blocks until the difficulty raised, and then turn their miners on to another coin for e.g. 2048 blocks. This manipulation of the blockchain would only benefit strategic mining groups aimed at getting rewards faster. Dark Gravity Wave (DGW) changes the difficulty every block which increases security by stabilizing the network from the "mining attacks".
The Dark Gravity Wave serves to counterbalance the hashing power on the network. This is critical and strategic because it enables the auto correction and self regulation of the blockchain. Other crypto currencies have met their unfortunate demise when miners have switched to different (easier to mine) coins thereby causing the blockchain to freeze and the collapse of the coin. Bluntly put, the Dark Gravity Wave is akin to an on duty superhero ready to kick ass and protect the security of your Brixcoins.
Benefits of Dark Gravity Wave Dark Gravity Wave uses multiple exponential moving averages and a simple moving average to achieve the smoother difficulty re-target mechanism. With BRIXCOIN the Dark Gravity Wave difficulty algorithm helps to make us immune to issues like multipools as it retargets difficulty every single block. Not just that; with Dark Gravity Wave the BRIXCOIN blockchain becomes more secure and block times become much more consistent; despite large fluctuations in mining power hopping on and off the chain. Apart from controlled difficulty some other benefits of Dark Gravity Wave are security, faster transaction, more miners and a reliable chain. Simplified Translation The Dark Gravity Wave uses highly complex calculations, algorithms, formulas, and special voodoo that keeps the sheisty miners under watchful control (these bitches have no clue what they’re up against). Don’t worry. No chickens, birds, or snakes were sacrificed :)
Masternodes Each BRIX Community Member (BCM) will be issued with something called a masternode. The masternode is the remote computer that does all the magical computations AND earns you smart money while you help make a positive change in the world. Should you have the technical ability to set up a masternode yourself, then you can follow the setup guides provided on the www.brixco.in/masternodes website. If you’re a techy go ahead and follow the set up guide. However, if you’re a dummy, a blonde, an alien, or a normal non technical person, let the pros do it for you by purchasing the “done for you masternode set up”. Each masternode is paid rewards in a pseudo random/roundrobin distribution style to facilitate InstantSend and PrivateSend. Most importantly, owning a masternode will also allow the owner to put in a proposal to the Decentralized Governance and to vote on Governance Project Proposals. Everyone who owns a masternode gets a fair turn to benefit (earn) from the work done by the good miners. These are the miners who are in alignment with
Brixcoin’s vision and are committed to helping make the world a better place. These are the good guys we want on our side!
Decentralized Governance The BRIXcoin Decentralized Governance Proposal Platform will begin after block 250,000. Once the network is secure (after block 250k), Brixcoin will start collecting the brix (coins) that will be used to fund projects to help the disadvantaged. Decentralized governances will allow masternode holders to put in proposals for budgetary funds to be distributed to successful applicants. Not only do masternode owners earn coins, but they’ll also have the power to propose and approve suggested projects.
(NOT SO DISCREET) HINT: Brixcoin is a total no brainer, so go ahead and grab your masternode today- don’t delay.
VERY IMPORTANT QUESTION: Where else do you get the chance to earn while you grow a tribe of likeminded visionaries who love helping others as much as they love crypto? All masternode holders may then vote on submitted proposals, and if successful, they are paid on the superblock which happens every 30 days after the Decentralized Governance Proposal Platform goes online. If your proposed project wins, you’ll receive your money for your desired project. *** I drilled the developers on this point because I really wanted to know how they vet the veracity of each proposed submission. How do they know if the money goes to a real cause or project as opposed to someone’s personal pocket? As it turns out, the masternode owner must introduce themselves and submit a detailed proposal (similiar to a business plan) through the BRIXCOIN website. Then, the community’s masternode collective interviews and vets the person requesting the money. After a careful interview and thorough Q&A session, the community votes on the proposal. The person will then want to update the community and submit evidence of how the money was used, otherwise if and when that person returns to submit another proposal the community will remember the lack of follow up and will not (ever) vote for this person again. The Brixcoin masternode community will mightily strive to keep people honest. :)
This allows the community to help influence the future of BRIXcoin, submit proposals to help their local communities, and expand the BRIX Community work force. Since masternode owners will have an active role in the future of Brixcoin, it will also increase community activity. As a masternode owner, you’ll be empowered by a tribe of folks who are also motivated to helping those in need.
Future BRIX Community Innovations Cryptocurrency technology is constantly changing, so to this end, Brixcoin must also be constantly innovating. We use community suggestions to sort through the next technology and trends to advance Brixcoin. The development team is passionate about growing the community to help make the world a better place. They’re committed to being open and welcoming of new ideas that will make the community better, stonger, and more effective by leveraging tested technology and analyzing trends to create a real legacy. We do this because there are so many different new technologies springing up that it's impossible for one person to keep track. While we innovate tried and tested new technology from other coins, The Brixcoin Community is also dedicated to creating our own innovations and methodologies. The Brixcoin community is structured in such a way that people will naturally give the best of themselves. And with the power of a collective global tribe all viable ideas will be considered for the greater good. We will do this by attracting developers and team members who believe not only in our cryptocurrency but also in our long-term goals of helping impoverished communities of the world.
BRIXCOIN is calling on visionaries, crypto currency experts (and virgins), porn stars, developers, geeks, nerds, celebrities, cowboys, astronauts, Christians, Jews, Baptists, Monks, one legged golfers, and YOU to join the cause to leave your mark on this world.
*** If you’re still waiting for a sign to get started then you might as well wait for your cat to bark. I invite you to remove the leash off your imagination! Conclusion Brixcoin uses a mixture of Bitcoin and DASH code to achieve a secure and fast blockchain. With the x11 algorithm, quick block rewards, and a well thought out coin supply, we will be stable and valuable while still being a usable cryptocurrency. The Brixcoin Decentralized Governance and Masternode code helps spread and unite the community members who will all have a true voice in the future of Brixcoin. Lastly, our dedication to helping the world through The Brixcoin Special Projects Initiative and "proposal-based funding", helps to market the coin to an ever-growing community and the world at large. Brixcoin has carefully analyzed and drawn some inspiration from the crypto giants to provide longevity, security, and unparalleled results. Brixcoin modestly and humbly hopes to surpass, outperform, outrun, outshine, spank, and humiliate the competition (like a boss)!
The Brixcoin Team The Brixcoin team is truly international. Our team members work ‘virtually’, to create the powerful platform and cryptocurrency you have available for your use today. Every member of the team shares the core vision of molding a collective to the benefit of impoverished communities around the world. We can be reached via the website, facebook, twitter, and Discord. We welcome your feedback, ideas, and community involvement. Without you, we do not have a reason to exist, so please come along and lead by example. While the Brixcoin Community claims to be comprised of international and diverse people, my independent investigation proved that the entire community shares the same birthplace, outlook, and values. Their birthplace is Earth, their race is human, their religion is love, and their politics are for freedom.
Become a BRIX Community Member (BCM) Today!
DISCLAIMER Common side effects after purchasing a masternode include bursts of joyous laughter, euphoria, brighter days, clearer vision of the future, increased faith in mankind, solid earnings, and the opening of the floodgates of Dopamine AKA the happy hormone all while earning super sexy Brixcoins! Dopamine, which is known as the happy hormone, is released in the brain during pleasurable situations such as Brixcoin mining. Go to www.brixcoin.co to get your masternode today!