Check out #trade-junkies for the latest #trading & #money news!
OVERVIEW
Breakout Chain is a global payment system with minute transaction fees. It allows users to send money anywhere in the world instantly and directly to a recipient, without any middlemen. Carried on a single distributed ledger, known as a #blockchain, exist several currencies with different uses.
At the heart of the Breakout Chain „Multicurrency" system is the currency Breakout Coin (ticker: BRK). It is the Breakout Chaincurrency designated for payments, issuances of colored coins, pegged currencies, and used to fuel our smart contract system.
One use case for Breakout Coin is planned by Breakout Gaming (www.breakoutenterprise.com), a company specializing in online gaming. To promote adoption of Breakout Coin, we will loan 7,000,000 BRK to Breakout Gaming in 35 monthly disbursements of 200,000 BRK each, at 0.5% yearly interest compounded quarterly.
Repayment will be calculated in BRK so that all BRK principal must be repaid with interest. Part of the loan agreement is that these coins must be used for promotional giveaways only and can not be sold by Breakout Gaming. To the extent allowed by law, additional requirements are that Breakout Gaming must allow buy-ins using BRK, must allow users to cash out in BRK, must denominate ingame chips in BRK, and must fully cover player liability by holdings in BRK.
The repayment period starts one year after disbursement and continues for one year. Each disbursement will be locked in blockchain escrow using the deferred availabilty function called CHECKLOCKTIMEVERIFY. This marketing escrow ensures that no coins will be available until the time of disbursement. Upon repayment, the principal of each payment will be locked in multi-signature escrow using at least one professional and trusted signatory service.
After repayment from Breakout Gaming, the 7,000,000 BRK will then be available for new loans to promote adoption of Breakout Coin. All adoption loans will have extended disbursement schedules, and coins will be locked using CHECKLOCKTIMEVERIFY to defer disbursement. This system establishes a highly controlled pool of funds that can be used in perpetuity to promote Breakout Coin by essentially providing low interest marketing funds to businesses. The marketing escrow and repayment conditions ensure that the BRK supply in circulation is stable and virtually eliminates sell pressure related to promotional giveaways.
Alongside Breakout Coin is another currency called Breakout Stake (BRX). Breakout Stake owners have the right to validate blocks of Breakout Chain ledger entries. For each block, the validator is permitted to claim a reward for performing the validation.
Breakout is available on the following exchanges:
https://bittrex.com/