Shaft (SHF) is a next generation cryptocurrency which is created by miners for miners. Idea of Shaft is to provide a perfect cryptocurrency for GPU Mining without any of the governance issues, hacking problems or other kind of non-relevant stuff for ordinary miners.
In essence, Shaft is a fork of Ethereum, but without its’ flaws like upcoming PoS problems, DAG file-size issues or Metropolis protocol.
Shaft is a reliable cryptocurrency created to provide the best experience in the mining industry. As you know, right now there is no cryptocurrency on the market that follows interests of its’ miners, all of them follow ambitions of its’ creators. Shaft is changing that.
Shaft is materialization of motto “Mining without borders”. By supporting and mining Shaft, you can rest assured that the rules of the game won’t change for the rest of life of the blockchain industry. Shaft is a predictable development cryptocurrency: there would be no halvings, no unexpected hardforks, no special deflation or inflation “policies”. Shaft’s blockchain is absolutely organic in its’ development and in its’ existence.
Shaft ensures that its blockchain is reliable and unchangeable in a long term period. Thus, business entities and private persons could use its smart-contract infrastructure without any doubts and plan their operations accordingly to their vision of the future and their intents.
Shaft chain will bring literally all the capabilities of the classical smart contract system and in the future Ricardian contracts will be softly implemented within Shaft. This contract duo system will enable massive possibilities to smart contract everything both in crypto and material world. Just imagine automated world build with smart contracts, that every schoolkid could understand.
Shaft team is loyal to the values of stability, development and mining profitability. We are creating a problems-free, out of the box product friendly to all mining-oriented public in worldwide communities and industries.
Pay
SRS tokens will be the main payment method for SHAFT-based upcoming services such as marketplaces, exchanges, shops (all SHAFT services net will be introduced later as soon as they are ready for public testing).
Earn
All upcoming SHAFT based services will generate profit. Big or small. Nevertheless, all token holders will be eligible to receive a stake of 15% in these profits. They will be distributed through personal cabinets and smart contracts. The more tokens you own, the more profit you receive.
Vote
SRS tokens would provide a voting power for owners so SHAFT platform could be governed through collective rule with miners and token owners. People who mind about SHAFT. SHAFT stakeholders will decide how the platform should be developed, what systems and services it should implement and which strategies to adopt. This SRS based system helps to acknowledge miners and stakeholder input in Shaft development and therefore award them.
Distribution
SRS tokens will be distributed through a smart contract which will reward every Shaft owner with SRS tokens accordingly to their shaft balance. Starting with deposits from 5,000 Shaft every miner would receive 8% yearly interest rate paid in SRS. An interest rate of 0,66% will be paid in SRS tokens every month. For example, if you own 10,000 shafts you will receive 66 SRS tokens every month. More SHAFT means more tokens!
When
SRS is not yet fully developed and will start to fully operate in late December. Nevertheless, we want early adopters to benefit from adopting SHAFT early first snapshots of balances will be taken starting the 25th of October. Thus, when SRS starts to operate you will receive interest for additional 2 months.
Deposits
To earn more SRS tokens and to be eligible for receiving interest you will need SHAFTS.
There are 3 ways to obtain them:
(1) Mining;
(2) Purchasing on Exchange;
(3) Buying a limited bulk of SHAFTs from developers (this way we will raise additional money for a faster platform development and keep the market price at a decent level. Will be available no later than October 15th).
Shaft is friendly to mostly all types of the mining GPU hardware (starting from 1.1 GB) — in the beginning miners with all kinds of GPU hardware could mine Shaft in Solo mode. Shaft team would also provide all sources for mining pool creation and create one themselves.
To ensure greater mining profitability through greater stock value of SHF cryptocurrency, the Shaft team will launch a chain with increased difficulty of the genesis block and all further blocks. It will prevent overflowing market with lots of cheap new SHF’s and make volatility of SHF on exchanges lower, ensuring profitability calculations for your rigs in longer term periods.
ECONOMIC POLICY
Shaft team will premine 6 mln. SHF’s in advance for the development purposes.
Allocation of funds would happen accordingly:
- 2.5 mln. SHF would be spent on the marketing;
- 3 mln. SHF would be spent on the development of the standalone client, protocol update, unique open-source pools and special services integration (shapeshift, ledger, jaxx).
- 0.5 mln. SHF would be spent on the bounty program.
More Information can be found here: https://bitcointalk.org/index.php?topic=2153788.0