Bill BOT [11:40 AM]
hey @xerocash can you tell the chat room a little bit about your project?

[11:41]
https://bitcointalk.org/index.php?topic=1630594.0

xerocash [11:42 AM]
Sure! Just need to pause this bitcoin uncensored podcast or nothing will get done today...


Bill BOT [11:42 AM]
I guess a direct question could get you started. How many developers you guys got working on the project?

xerocash [11:44 AM]
There are 2 people on the project now with another 2 pending after contracts finish up

[11:45]
We are taking the Zcash protocol and creating a project that will be merge mined with bitcoin

solarminer [11:45 AM]
This Xerocash looks a lot like Komodo.   Could you explain the differences and the ambition for Xerocash.

xerocash [11:46 AM]
Actually, we are nothing like Komodo. Komodo rely on Dpos and have an anonymous dev team with a long history of rolling ICO's. We will not be anonymous and will have a very large focus on our social media, marketing and sponsorships

[11:47]
XeroCash wants to be the redbull of crypto. We can start with amazing tech but then what?

solarminer [11:49 AM]
But both coins are using the bitcoin blockchain and zcash tech.  How are the coins different from a technical perspective.

xerocash [11:52 AM]
There may not be all that much difference in the tech concept. They will use Dpos to secure the chain where as we will create a chain that mining farms can merge mine Xero. After their tech releases, what happens next? This is were we shine. A large focus of our project will be on the brand development.

solarminer [11:54 AM]
Ok, got it.


Bill BOT [11:54 AM]
I like the fact that you guys will not be anon. The zcoin guys are not anon and I really appreciate that part of their project. It's hard for me to understand technical jargon as much as the others (could be why I'm such a sucker), but I think PR, Marketing, and brand awareness is important for a project.

solarminer [11:55 AM]
So there was a comment about needing 2GB of ram to send a transaction with Zcash.   Is that true with Xerocash?

xerocash [11:57 AM]
@solarminer this is something we will need to address. You cant be sending transactions from smartphones like this. At this stage, we don't have an answer for this and it is beyond our current timeframe

solarminer [11:58 AM]
Bill is right.  Community is really important with getting a project like this going.  A less subsidized project like yours might have a better chance of getting the community support and doing well.


Bill BOT [11:58 AM]
When is the ICO start? Are you guys getting founder reward like zcash guys?

xerocash [11:59 AM]
Our advantage is that we will be building our brand as the Zcash, Komodo and zerocoin team iron out the bugs and improve the technology. When they are doing this we are building the XeroCash brand. Once we are ready for release we already have the foundations on which to launch

[11:59]
Subject to change but the best scenario we could identify: 30/30/30/10

[12:00]
%30 dedicated to early adoption (Kickstarter)
%30 for the final round.
%30 is scheduled for merge mining alongside our mother chain BTC.
%10 will be retained as the developer fund.

[12:02]
The rounds will be split up. Each round will see targets and goals before the next round will commence. Early on, the % up for grabs remains small (much like the interest) but as we grow so do the % rounds and also interest

[12:03]
It is in everyones best interest to progress like this. Too often do we see projects receive funding only to under deliver or miss deadlines all together.

[12:04]
If we don't hit targets, nobody will care what it is we are doing. Thats the way it should be

solarminer [12:04 PM]
So you are offering a 1 to 1 trade into the better coin.   So are you going to buy both coins to guarantee you have enough of both?

xerocash [12:04 PM]
What do you mean?

solarminer [12:05 PM]
XeroCash tokens that will feature a 1-1 redemption basis with the chosen chain as successor.

xerocash [12:05 PM]
I think you are confused as to the 1-1 structure. As our chain is not in development, we cannot offer the coins. Much like any ICO we must offer our tokens

[12:06]
When we launch, those tokens feature a 1-1 with the successful chain (the technology we decide to use)

[12:07]
The reason why we do this? Zcash is in actual fact, high risk software and Zerocoin protocol may prove to be a better option

solarminer [12:07 PM]
Awww.  Ok, so the amount you raise will be converted to the amount on the chosen coin.   That final coin amount is variable.

xerocash [12:08 PM]
There will be 100m coins (standard) so 100m tokens will be up for granbs

[12:08]
Correct, so when the chain launches there will be 1-1 redemption

solarminer [12:09 PM]
So how can you convert 100M tokens to zcash if the price of zcash is crazy high.

xerocash [12:09 PM]
no no no...

[12:10]
Our blockchain will feature 100m coins. Our presale tokens will be burnt for a 1-1 redemption on our blockchain not Zcash

[12:11]
eg ETH genesis tokens where convereted to ETH upon launch

solarminer [12:11 PM]
Awww.   Ok, so just token to coin.

xerocash [12:13 PM]
Ok... So in the presale you will get your tokens. When we launch the blockchain, for every 1 token you possess you will then receive 1 Xerocash. Does this make sense?

solarminer [12:14 PM]
Yeah, got it.  I was thinking chosen chain was zcash/zcoin.   Yep makes sense now.

[12:15]
Certainly some competition here.   I wonder how this will all shake out.  I guess Xerocash is the potential safer bet because it is more flexible.

xerocash [12:17 PM]
We are highly flexible and not deluded by the hype. While these guys burn money on developing we will focus on the brand.

solarminer [12:17 PM]
Good luck on the 29th with your interview.  Feel free to post a reminder or a link when it goes out.  Maybe that isn't the 29th...you said week of the 29th. (edited)

xerocash [12:20 PM]
@solarminer thanks mate, the guys are animals so we will need it!  Next week sometime on bitcoin uncensored...

solarminer [12:21 PM]
Yeah, we know it.  At least take it all in stride.

steadymining [12:24 PM]
joined #cryptotalk. Also, @leerboy joined.