A brief guide to Kulupu Network
Kulupu Network is a revolutionary blockchain platform that implements some of the key features of Bitcoin and Ethereum,it’s built on substrate.
Current problems in BTC and ETH
Decentralization in a blockchain networks matters to its consensus and overall health,bitcoin is currenlty the most secure thanks to its proof of work consensus algorithm but it suffers from the flaw of centralization,it’s not as decentralized as many claim it to be,3 of the top mining pools control almost half the network,aside that the cost of securing efficient hardware,the cartels formation and possible control(most of bitcoin mining rigs are located in china).
Features
No Premine : unlike many cryptocurrencies out there,Kulupu has no premine either to project founder nor to early investors.
Decentralized : The development and governance of the project is entirely in the hands of the community. Initiatives like grants,bounties,token listing and other functions are proposed,voted upon and approved by the community
ASIC-RESISTANT: It does not support ASIC,in the spirit of true decentralization,it makes use of the monero randomx algorithm to democratize the mining process. Anyone with minimal computing resources can compete for rewards alongside big players,no more hardware suppression.
Smart contracts supports : This feature is actively under development,in the near future,developers will be able to build and deploy contracts to the kulupu chain.
On chain governance :The network adopts a representative kind of governance,community members are elected into a council and these councils are responsible for the direction of the network.
Community members can make proposals and the community and councils will have to vote on it,this approach means it will faster and cheaper to reach consensus on most issues in Kulupu as against other systems. With this approach,forkless and online upgrades can be made to the network at breathtaking pace.
Consensus : It utilises signed mining and reward locks,a device can only participate in the network if it has access to the private keys required to enable it mine,this is to prevent the malady of cryptojacking as common with monero. Also miners will not be able to access 100% of the mining rewards earned per epoch,rather they will be unlocked linearly after some time,this is to check against dumping on exchange,this is beneficial to both investors and traders.
Interoperability : It’s built as a proof of work blockchain on substrate,in the near future it will be interoperable with polkadot and other chains built or connected to it.
Tokenomics
The initial total amount was 21 million but recent community vote has increased it to 210M tokens.
The token is used to pay for network fees, it also has a fee market to ensure predictable pricing of fees.
Sustainability : To ensure the liveness and continuity of the project, it has introduced a voluntary taxation and treasury, this will help in building public goods that are sustainable.
Exchanges
The token is tradable on a number of exchanges like qTrade,Hotbit, MXC, Bibox and others
Wallet
Polkadot js|Mathwallet
