Why burn a perfectly good coin?
At ASG, we’re all about giving it back to the people. So we built a proprietary network layer that can be added onto a blockchain environment that can let holders participate in transaction revenue while helping stabilize the network globally – without all the potential for shenanigans and regulatory issues that traditional ‘mining’ can have.
Here’s how it works.
The Network Incentive System establishes a layer of nodes. The nodes on this system help to stabilize the network. Each of the nodes relay transactions to validators and act as a wallet server.
And here’s the cool part for participants: coins that are collected as fees and would normally be burned by the network are re-distributed to those operating the nodes.
If there are 1,000 nodes operating, and the network collects 100,000 coins from transaction fees, each operating node will receive 100 coins.
Engaging your community
Running a Network Incentive System also has a number of upsides.
For one, it expands a network by adding a second layer of protection while stabilizing global transactions. The more wallet servers and relays added to the system, the less vulnerable it is to attack.
But it also has a number of more abstract benefits.
A well-run Network Incentive System is a great way to encourage a deeper level of community involvement in a project. It provides a way to give senior members of a community an additional stake in your project.
Take a project which relies heavily on community involvement, or where user generated activity powers many of the transactions on the network. In such a case, the Network Incentive System provides a way to encourage greater activity by creating a path for members to receive a share of this activity in the form of coins.
Another good fit would be a project where the community would rather see transactions revenues distributed beyond a narrow set of administrators. Of course, this does not mean the administrators are themselves locked out from operating nodes.
We could even foresee a charity finding a powerful use for such a network; more activity would not only generate more revenue for the charity, but also value for the holders.
The system in action
Here at ASG Blockchain, we have already deployed this solution for CasinoCoin, the blockchain for gaming.
A global network of nodes ensure network stability while ensuring global coverage – something essential for CasinoCoin’s partners across the world.