Askcoin in one page

Alex Wu
Askcoin
Published in
4 min readJul 7, 2017

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ASK ! The Cash of Knowledge

The DAG Based Blockchain System And The Coin To Exchange Knowledge With Value

Web SiteBlogTwitterGitHubSlackWhite Paper (EN)White Paper (CN)

Introduction

The AskCoin system is a blockchain infrastructure designed specially for the knowledge sharing platforms. It works with existing Q&A platforms like zhihu.com, stackoverflow.com and quora.com etc. We consider a common decentralized blockchain platform for all these websites (we call them Apps) is necessary. It’s a user-motivated way for people to provide valuable answers which would be rewarded by an independent cryptocurrency. The author can now exchange his/her knowledge with value much faster, easier and more transparent by using the platform-independent token which can be used anywhere in the AskCoin ecosystem.

Essentially, every App in the ecosystem is an AskCoin wallet. You can ask and answer questions, make the payment, and transfer tokens. We will implement a default mobile wallet (for both Android and IOS) and with an internal exchange market in it.

The whole ecosystem looks like this:

The Design

Askcoin uses the ed25519 elliptic curve cryptography instead of the secp256k1 which is used by the Bitcoin and the Ethereum. Askcoin address encoding is a derived version of Bech32 address encoding which is introduced by BIP173

AskCoin uses DAG (Directed Acyclic Graph) based technology, different from traditional blockchain technology, such as BitCoin and Ethereum. We believe DAG offers many advantages in the user cases where AskCoin aims to address. Before AskCoin there are IOTA and Byteball projects which are famous for their DAG techniques. The AskCoin team learned a lot from the Byteball project and will implement the same mechanism as MainChain which was fristly introduced in the Byteball project.

AskCoin will not fork from any current existing projects. Instead, we will try to build the system from scratch by using the JAVA programming language.

AskCoin will implement an internal exchange market. The user can exchange ASK with BTC and ETH directly from the mobile wallets. The system will become a sidechain of both the Bitcoin and the Ethereum. AskCoin network will act as a sidechain of both Bitcoin and Ethereum.

Money supply/Initial distribution

The system will have an internal token called ASKCOIN (ASK for short). The token will be used to pay the transaction fee and make the payment to a person who answered the question. The token can be used with the same value in different APPs that integrates the AskCoin blockchain. That is to say, the coin earned in app1 can also be used in app2. They are the same coins. The initial supply for the coin is 1,000,000,000 ASK. The entire token supply will never change and no more token will be generated. The coins will be created in the genesis block(transaction) and will be distributed to ICO participants accordingly.

Team

For more information about Askcoin team please refer to the Askcoin website

ICO

The Askcoin project is doing ICO now, join Askcoin ICO at bitbill.com.

RoadMap

  • Askcoin White Paper Draft (2017/06 done)
  • Askcoin pre-ICO for 1600BTC (2017/06 done)
  • Askcoin Website online : https://askcoin.org (2017/06 done)
  • Askcoin ICO (under going)
  • Askcoin Meetup #1, ShangHai/China (2017/07/09)
  • Askcoin Meetup #2, Beijing/China (2017/07)
  • Askcoin Meetup #3, ShenZhen/China (2017/07)
  • Askcoin White Paper v1.0 (2017/08)
  • Askcoin Dev Roadmap (2017/08)
  • Askcoin ERC20 token (undetermined)
  • Askcoin Testnet (2017/11)
  • Askcoin Wallet (iOS/Android) (2017/11)
  • Askcoin Mainnet & genesis (2018/02)
  • ASK Distribution (2018/02)
  • The first ASK-based App online (blockchain-tech Q&A community) (2018/05)

White Paper

For full technical description, read the Askcoin white paper from : https://askcoin.org/askcoin_white_paper.pdf

ASK! The Cash of Knowledge

The DAG Based Blockchain System And The Coin To Exchange Knowledge With Value

Web Site | Blog | Twitter | GitHub | Slack | White Paper(EN) | White Paper(CN)

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