1. What is Crypti?
Crypti is a crypto-currency and decentralized application platform. As a crypto-currency, much like Bitcoin and other alternatives, it provides a decentralized payment system and digital money network. The network itself, operates using a highly efficient Delegated-Proof-of-Stake (DPoS) consensus model, that is secured by 101 democratically elected delegates. The Crypti decentralized application platform, it's most powerful component, allows the deployment, distribution and monetisation of decentralized applications onto the Crypti blockchain.
2. Who created Crypti?
Crypti was founded and is maintained by the Crypti Foundation, a collective of crypto-currency enthusiasts, developers, designers, entrepreneurs and visionaries. The Crypti Foundation also maintains numerous official Crypti web presences, including this website, Twitter, Facebook, Google+, Reddit, a forum, the BTT thread and much more.
3. Who controls the Crypti network?
The Crypti network is both decentralized and trustless. That means no single entity is in direct control. The network is secured by 101 democratically elected delegates. Whose primary responsibility is to confirm and broadcast the validity of transactions. All Crypti accounts on the network are eligible to vote for delegates registered on the Crypti blockchain. The 101 delegates with the most votes are elected with the responsibility of confirming the validity of transactions broadcast on the network. They also receive 90% of all fees collected by the network, while the foundation receives 10% for funds and contests.
4. Why do people trust Crypti?
Much of the trust in Crypti comes from the fact that it requires no trust at all. Crypti is fully open-source and decentralized. This means that everyone has access to the entire source code at any time. Developers around the world are therefore free to inspect and verify exactly how Crypti works. All transactions can be transparently audited in real-time by anyone. All payments can be made without reliance on a third party and the whole system is protected by heavily peer-reviewed cryptographic algorithms like those used for online banking.
1. What is XCR?
Every blockchain-based crypto-currency needs a token of value. At Bitcoin the tokens are called BTC or XBT. At Crypti they are called XCR. The abbreviation XCR is also used as the ticker for Crypti on various exchanges.
2. How are XCR created?
All XCR are already in existence. There will never be more XCR than 100,000,000. This is due to the fact that XCR are not mined or generated. All XCR were issued at the inception of the Crypti blockchain and were distributed equally amongst all initial IPO investors. There were nearly 1,000 investors in the IPO.
3. What is an IPO?
IPO is the abbreviation of Initial Public Offering. It's an often used method to distribute the tokens of Proof-of-Stake based crypto-currencies. In the IPO individuals invested a total of 750 BTC, as a result 85,000,000 XCR were distributed between them. The Crypti Foundation itself got 15,000,000 XCR in order to have an incentive to continue the development of Crypti.
4. Where can I buy XCR?
Right now XCR can be bought on two exchanges: Poloniex.com and Bter.com.
1. What are decentralized applications?
Decentralized applications are exactly what the name suggests. Applications of any sort running on many servers, providing unseen security, uptime and entirely new business models. Crypti decentralized applications allow the deployment, monetisation, computation and distribution of decentralized applications on the Crypti blockchain.
2. What is the difference between decentralized applications, dapps and smart contracts?
Dapps is the abbreviation of decentralized applications, that means these terms are referring to the same thing. Decentralized applications consist of the whole package of frontend (what you see of an application) and backend (the logic in the background). A smart contract on the other hand, consists only of the backend, and often only a small part of it. That means if you want to create a decentralized application on a smart contract system (i.e. not on Crypti the dapp platform), you have to combine several smart contracts and rely on 3rd party systems for the frontend.
3. How do Crypti dapps work?
Please take a look at our white paper.
4. How can I make my own dapps?
5. Are there any dangers posed by using dapps?
Yes. Any passphrases entered into a dapp have the potential to be captured and stolen by the dapp's developer. Which is why you should only ever use open source dapps from well-known trusted developers.
1. What is a brainwallet?
Crypti uses brain wallets to create accounts and let users access them. That means your account has one passphrase which let you access it. If someone else is typing in the exact same passphrase, they will gain access to your account. That means your passphrase has to be very long and secure, to make it mathematically impossible that someone else won't accidentally use the same one.
2. What is a second passphrase?
The second passphrase is an additional security layer. Every account can have a second passphrase which needs to be entered whenever you make a transaction. If you store the second passphrase on another device or on a piece of paper, it is similar to a 2-factor-authentification.
3. What are Multi-Signature groups?
Multi-Signature groups consist of the group owner and up to 15 subordinates, that means a total of 16 (N) accounts. The subordinates need to confirm every transaction from the group owner's account. Every multi-signature group can specify how many (M) confirmations they need. If not enough confirmations are collected, the transaction will not be sent.
0.1% of the sent XCR amount
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Second Passphrase Setup
5 XCR for each Multi-Signature member