Hex Architecture | Table O Contents
Six points of entry expanding three dimensionally to thirty-six (36) nodes of consensus …
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First Subtitle
Hint. The power of square applied to nature’s strongest design shape yields 1,296 nodes of consensus in Level Three.
More to come …
Two Coins
One of the coins expected to hit the market in 2025 via Initial Coin Offering or ICO is our Medcoin™ Tangerine Copper coin patterned against our federally registered Medical Marijuana Initiative USPTO Trade Mark Logo Badge.
Tangerine Copper
Gold Badge
The other coin expected to hit the market in the year 2025 is our Medcoin™ Gold coin also patterned against our federally registered Medical Marijuana Initiative USPTO Trade Mark Logo Badge, as well.
As follows,
The Hex
More to come …
Building a Consensus Hexadecimally
A cabal of six (6) coming to a consensus radiates thirty-six (36) nodes in Level Two at the power of two.
Further progression at the same rate of penetration through Level Three yields 1,679,616 nodes in Level Four.
How quickly critical mass can be achieved through the power of two coupled with the pure shape of the hexagon.
Critical Mass
Who are the Miners that will yield this critical mass of 1.5 million end-users?
Answer: Those who download the platform.
What incentive will the Miners pursuit when cobbling the blocks from each batch of ten (10) transactions in chronological order?
Answer: A flat 15 cents USD, or 1/100th of a Medcoin™ priced to current spot per transaction with no prioritization other than a Unix time stamp irregardless of size or point of origin will incentivize miners in the que.
Note. In the event two and one-half (2.5) minutes shall pass without the requisite ten (10) transactions accrued necessary to build a block to be written to the chain …
Given at least one (1) transaction waiting in the que, the base rate of one-tenth (1/10th) of a penny USD per second, or 1/15,000th of a coin at current spot shall apply to incentivize the building of blocks with less than ten (10) transactions accrued.
When time begins to turn stale after one-hundred fifty (150) seconds of wait time, an opportunity is created over the next one-hundred fifty (150) seconds for a miner to step in and add the odd lots to the chain.
Therefore, the maximum customer wait time to complete a block of transactions under this scenario is a total of 300 seconds, or five (5) minutes irregardless of size or point of origin of the transaction.
Tax Man
The tax delivered to the zone authority will remain constant, however, irrespective of the time element.
The zone authority receives a constant seventy-five (75) cents USD, or 1/20th of a coin at current spot for each transaction that originates within the authority of the zone.
Etched in stone, no variance allowed for regressivity.
Not a progressive tax structure, but nevertheless, there you have it.
A real coffin buster for the zone authority.
The Velocity of Money
In a classic monetary scenario given a Central Bank charged with keeping inflation tame and unemployment low, the key driver of economic activity becomes the consummation of a loan.
The consummation of a loan injects dollars into the system.
If the Central Bank wishes to contract, or strangle the economic activity of the nation, the Velocity of Money may be slowed or choked off by simply pulling the plug on new loan activity through the sale of interbank treasury bonds.
We sell YOU the bond, you drain your vault of cash.
By making it harder for a registered bank to consummate a new loan for its customer ( what happened to all of the cash I had in the vault to loan out ), in effect the Central Bank is attempting to reduce the Velocity of Money by also raising the overnight borrowing rate at the discount window.
Rule. In a classic monetary fiat system, no new money is created without some type of new loan being consummated.
Enter The Blockchain
On the other hand, with a block chain built upon a flat transaction tax, government coffers would constantly be replenished daily, if not hourly, rather than at the tail end of the fiscal year, or at the tail end of the calendar year, or even four and half months into the new year under the tax regime that we have enveloped our nation with now.
The Bottom Line
A customer that wishes to transact using Medcoin™ will pay a flat one (1) dollar USD transaction surcharge, or six and two-thirds one-hundreds (6.67/100) of a Medcoin™ at current spot negotiable between buyer and seller as to which party wishes to pay the surcharge, if not split it.
Who pays the ( 0.06667 or 6.67% ) transaction fee becomes an issue at time of sale.
Either the transaction fee is paid by the purchaser in addition to the price of merchandise or service, or the transaction fee is deducted from the seller’s proceeds, or the transaction fee is split 50/50 between buyer and seller, or by any other sharing percentage agreed upon at the time of consummation of the sale.
For each one-million (1,000,000) transactions added to the block chain, the zone authority will receive 75% of the transaction fee, the Miners 15% of the transaction fee, with the remaining 10% of the transaction fee set aside for Medcoin™.
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75% of the transaction fee over the course of one-million (1,000,000) transactions monthly equals roughly $750,000 for the zone authority.
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15% of the transaction fee over the course of one-million (1,000,000) transactions monthly equals roughly $150,000 for the Miners.
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10% of the transaction fee over the course of one-million (1,000,000) transactions monthly equals roughly $100,000 for Medcoin™.
Coin Appreciation
With an initial authorized 100 million Medcoin™ at ICO ( Initial Coin Offering ), the rate of dissemination will depend on the demand for secure “hard” wallets.
Minted at spot, each Medcoin™ will have an intrinsic value and a numismatic value.
The intrinsic value, based on spot at issue, will fluctuate daily.
However, the numismatic value of the coin will behave more erratically.
To assuage the exuberance of the populace in their undivided love for their newfound Medcoin™ and Medcoin™ “hard” wallets, the Board of Directors of Medcoin™ will release and issue blocks of one-million (1,000,000) Medcoin™ when, as, and if issued in a timely fashion at spot, always at spot, irrespective of the current exchange rate between Medcoin™ and USD, or Medcoin™ and the Euro, or Medcoin™ and the Yen, or Medcoin™ and the Swiss franc, or Medcoin™ and any other crypto currency including the grand daddy of all criptomodedas, Señor Bitcoin.
Miners, Keep On Mining
Of course, the Miners may choose to sell or exchange their newfound Medcoin™ at any time after receipt for a job well done when adding blocks of transactions to the Medcoin™ chain.
Because of the strength of the “Hex” consensus, no “Proof of Work” or “Proof of Stake” will be required to segregate winning Miners from losing Miners.
What will replace these unholy and unfriendly mathematical puzzles will be non-environmentally damaging “Hex” trust.
This is NOT a knife fight, people!
There is no reason a regular PC with a decent GPU cannot mine Medcoin™, as long as the owner of that PC is registered at Medcoin™.
Note. Medcoin™ will reserve the right to terminate ANY mining relationship that even sniffs of being deleterious to the formation and preservation of the chain.
“You must NEVER break the chain!” ~ Stevie Nix, Lindsay Buckingham, Mick Fleetwood, Christine Perfect, John McVie … Fleetwood Mac, The Chain, from the Rumors album
Last Subtitle
More to come …
Note. The above synopsis was derived from an article written by Mark Scott [1].
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