Delaware – May 28, 2018 – Project POMA is proud to announce its blockchain heads to testnet activation this weekend. As promised in the last announcement, the specifications & distribution schedule for POMACOIN follows.
Distribution: Airdrops to community
*Specifications (light version):
Maximum POMACOIN supply: 5 billion
Maximum GAS supply: 5 billion
Blockchain Foundation reserve supply: 1.25 billion
Airdrop coin supply: 2.5 billion
Team coin supply: 1.25 billion
Presale coin supply: 0
ICO coin supply: 0
POMACOIN’s blockchain is built on NEO’s core, a highly scalable design with low latency and high throughput. POMACOIN uses the POMA Virtual Machine to execute smart contracts, maintain contract compatibility across multiple blockchains and contract development with high-level languages.
POMACOIN utilizes the dBFT (Delegated Byzantine Fault Tolerance) consensus mechanism instead of mining coins. Every POMACOIN coin earns a portion of a GAS token for every block generated on the network.
POMACOIN uses delegates to verify new transactions and secure the network. Certain requirements must be met to be a delegate such as holding a minimum amount of GAS. The POMACOIN network charges a fee in GAS for the operation and storage of tokens, to execute smart contracts and financial transactions. This enables economic incentives to support the delegates whilst prevent the abuse of network resources.
POMACOIN block generation rate is set at 15 seconds. In the future, low enough latency will allow blocks to be generated every second. With high bandwidth and external cryptographic computing hardware, the POMACOIN blockchain is capable of handling ten thousand TPS (transactions per second) or more.
Project POMA is not an investment project. Project POMA will NOT conduct a pre-sale and there will be NO initial coin offering (ICO) for its cryptocurrency project. Project POMA will thus not accept any funds for POMACOINs.
POMACOIN distribution will take place by means of several large Airdrops. More details will be available in their telegram community over the next week(s).
Information on Project POMA projects and the team can be found on https://projectpoma.com
They invite the public to spread the word and join their global team on Telegram https://t.me/POMACommunity
* Project POMA is currently testing changes to the blockchain on testnet. Some specifications may change.