Bitcoin rose to $16000 in late 2017 and dragged up values of Ethereum, Litecoin, Dash and almost all existing cryptocurrencies at the time. However, by the first quarter of 2018, Bitcoin has dropped down by more than ca. 50% and with it came down all other cryptocurrencies. This scenario impacted poorly on the blockchain ecosystem, hitting hard on early and potential general adopters, and unplugging computing devices deployed to secure networks as steady rise in network difficulties continued with incentives dropping below threshold for offsetting energy, device and time costs. Fast rising network difficulty attributed to ASIC, which outpace CPU, GPU, and FPGA by a large margin in mining speed, led to its enforced ban in some key blockchain algorithms. In addition, recyclability after new ASIC versions are built and at the end of a cryptocurrency mineability has become a waste issue. Personalized forking of algorithms to create new coins as an answer to outdated versions of ASIC has not worked as these new coins disappear in short time. The same is also true for some tokens created on Ethereum platforms, ‘copycat’ – they come and go, leaving novice users vulnerable and at a nightmare. While simultaneous mining of two to five different algorithms by a handful of cryptocurrencies has been a step-forward in the ecosystem, still unresolved are the issues of large mining inequalities and gain margin between CPU, GPU, FPGA and ASIC due to linearity of computing difficulty with computation speed.
Many have resorted to investing in new tokens from all different kinds of algorithms with the high hopes of at least recouping back their losses due to the aforementioned factors. However, these hopes continue to be crushed under the weight of many forces. The technicalities involved in this habitat of cryptocurrency remains a horrendous for the old and the young generations who are all equally scrambling to gain basic knowledge of it. Whether by buying miners to mine or by buying tokens to hold, one could assert that users are simply investing and supporting blockchain efforts with their livelihood. Wiping it out with so-called price-volatility or market fluctuations is an ‘epoborium’ of insensitivity to common sense.
The fact is that blockchain technology is actually a form of Artificial Intelligence. As we create it, we ought to start telling it to be behaving and be accommodating to those with advanced knowledge and also to those with near-zero knowledge. It is here to serve us all and not us serving it. Over 90% of the global population are really in the latter category of near-zero knowledge and their most language is ‘buy (hold)’ and ‘sell (spend)’ for a utility token. The high volatility in pricing means that they cannot enjoy this most basic knowledge they have. The questions are: Is it not possible to deal with this sporadic and heavy losses due to ‘mad’ pricing fluctuations? Is it not possible for us to sleep well at night in the use of intelligent tokens we have created to improve our natural and virtual ecosystems?
MISERICORDAE answers that: it is possible. MISERICORDAE is a decentralized ‘transformer’ and ‘restorer’ blockchain project that utilizes price-superstable gold-pegged ONNI as a token.
As a project, MISERICORDAE has focus on addressing two primary challenges that matters to us, namely: Societal Life Issues and Cryptocurrency Technology Limitations.
On Societal Life Issues, MISERICORDAE aims at dealing with underlying root causes to: mental illness and torments, drug misuses and addictions, homelessness and the so-called juicy taste of living on the streets. Also, MISERICORDAE aims at: mitigating against threats of epidemic and pandemic outbreak, partnering with medical and care institutions including their alternatives for the old, sick and disabled, improving enhanced childcare and protection, supporting training and tech centres for skill acquisitions, and development of environment-friendly arts and technologies. Let us change and improve lives together!
On Cryptocurrency Technology Limitations, MISERICORDAE aims at its own blockchain with ONNI as the shell token pegged to the value of Gold with features that include non-linear mining difficulty to address the steady-state linearity of computing difficulty with computation speed, excess hashrate redistribution to compensate for issues of large mining inequalities and gain margin between CPU, GPU, FPGA and ASIC, hybrid proof-of-work and proof-of-stake, and mining across numerous algorithms, not less than 15. Not only will it be price-superstable with emission of basic salary for computing device owners to defray their electricity, device, and time costs due to contribution to network security, the macro-micro blockchain will be coming along with Decentralized Order Management (DOM) and smart contracts for merchants, particularly for institutionalized buyers, sellers and distributors, with proof-of-order, proof-of-tax and proof-of-delivery to ensure merchants compliance with their trade laws and for buyer protections. MISERICORDAE blockchain will maintain an integrated optional anonymization and de-anonymization protocols for transactions. User makes the choice of privacy level. The blockchain has been designed with integrated swapping algorithm for currency swaps, and as well with built-in emergency offline internet for continuity during natural disasters, censorships and remote area online internet inaccessibility.
MISERICORDAE is on Ethereum blockchain as its first instance of the project for ONNI token which has the following ‘minimum viable features’ for utility:
Blockchain Type: Ethereum, Decentralized
Standard of Smart Contract: ERC20 & ERC223
Ticker Symbol: ONNI
Total Supply: 9*10^12 ONNI
Mining Algorithm: Proof-of-Work, ETHASH
Mining Type: (1) Merged mining with Ether and (2) Independent Mining with CPU, GPU, FPGA & ASIC
Mining Difficulty: Nonlinear over time
Mining Base Difficulty: 10^8
Peak Mining Difficulty: 10^9
Smart Contract Integrated Price-Stability: Fixed at Gold value and Semi-fixed at Ethereum value.
33 ONNI = 1 oz. of Gold (AU) --- emitted by smart contract in English Pounds Sterling ---Unchanging, Constant, Fixed.
At Deployment: 15 ONNI = 1 ETH --- emitted by smart contract in wei. 1 ETH = 10^18 wei (type one with eighteen zeros, i.e. 1000000000000000000) -----Semi-Fixed, Semi-Variable
UPPER BOUND LIMIT: ONNI per ETH is equal to or less than 33.
UPPER BOUND LIMIT: 1 ETH cannot buy more than 33 ONNI. 1 oz. of Gold (1 ozAU) cannot buy more than or less than 33 ONNI.
CONTRACT ADDRESS: 0xBd9c6028e1132A6B52F1ca15C0933A2FD342E21f
TOKEN NAME: MISERICORDAE
TOKEN SYMBOL: ONNI
START PRICE: 1 ONNI = 0.067 ETH
Recommendation: Use METAMASK or MYETHERWALLET (MEW). Both are easy and straightforward to use with high security BUT remember to follow their step-by-step instructions. You can get ONNI directly from ETHERDELTA and BarterDEX. More Exchange Platforms are been added. Learn more on our website at https://misericordae.github.io/exchangeonni/