A Dual-Token Blockchain
The Kowala Protocol is a dual-token system that consists of mining tokens and stable-value payment tokens
A Mining Token
mUSD the mining token for Kowala's kUSD blockchain. mUSD owners earn block rewards in the form of newly minted kUSD for their mining efforts.
kUSD is the stable-value payment token for Kowala's kUSD blockchain. The total number of kUSD expands and contracts depending on real-time market conditions.
1 kUSD TARGETS A VALUE OF $1 USD
kUSD is a cryptocurrency designed to target a stable value equal to $1 USD
New kUSD are minted automatically by the blockchain to satisfy market demand. The total number of kUSD coins is not pre-set, but is constantly and automatically adjusted by the blockchain. The number of kUSD can grow into the millions, billions, and beyond to satisfy market demand for kUSD. All newly minted kUSD are distributed to miners.
ABOVE $1 AND RISING
When the weighted average price of kUSD is above 1 USD, the blockchain will increase the amount of kUSD minted each block.
BELOW $1 AND FALLING
When the weighted average price of kUSD is below 1 USD and falling, transaction fees are increased and burned by being sent to a dead-end address.
MINT YOUR OWN MONEY WITH mUSD
mUSD is the mining token the Kowala's kUSD blockchain and is required in order to mine kUSD
Miners run the computer nodes that do the work of the Kowala blockchain. For this work, miners can earn block rewards in the form of newly minted kUSD stablecoins.
In order to mine kUSD, a miner will need to own and control a minimum number of mUSD mining tokens (currently set at 30,000 mUSD). These mUSD mining tokens must be installed into an operating mining client before mining rewards can be generated.
Eiland Glover discusses stability, timelines and applications in his keynote at the 2018 Beyond Blocks Summit in Tokyo
Eiland Glover talks about stability in the growing cryptocurrency and blockchain industries in his keynote at Token 2049 in Hong Kong
NEAR INSTANT TRANSACTIONS
The Kowala Protocol is over 1,000x faster than Bitcoin and 280x faster than Ethereum
The consensus protocol of Kowala, Konsensus, is a formal set of rules that allows a decentralized group of participants to agree on the advancement of the blockchain, including the handling of transactions and the distribution of incentivizing rewards.
Konsensus is derived from Tendermint, a mostly asynchronous consensus protocol which is itself based on Byzantine Fault Tolerance (BFT). We chose to base our work on Tendermint because it has achieved block transaction performance that is far superior to other widely used blockchain consensus protocols and because it has a well-understood security profile.
Eiland Glover gives his keynote on stable cryptocurrency, mass adoption, the importance of decentralization, minting, and burning at Denver Day For Crypto 2018.
Software Development Roadmap
The initial draft of The Kowala Protocol White Paper is written and reviewed internally.
A comprehensive agent-based model is created to test and validate the basic mechanisms of the Kowala Protocol.
The Kowala Protocol White Paper v1 is released publicly.
Konsensus, Kowala's Tendermint style consensus mechanism is released on Kowala's kUSD TestNet (Ovum Release).
Oracle smart contract features are released on Kowala's kUSD TestNet (Zygote Release).
mUSD delivery mechanisms will be released on Kowala's kUSD MainNet (Andromeda Release).
Live price reporting from exchanges and wallet app will be released on Kowala's kUSD MainNet (Boötes Release).
kCNY will be released
Stability rewards for wallet holders will be released.
Native Android app will be released.
kRUB will be released.
New feature will be released in Web and native app to support one-step sending and requesting of funds via social media.
Web and native app to support contactless exchanging between kUSD and USD fiat (and other kCoin fiat pairs).
Five additional kCoins to be released.