Overall the idea sounds great, because let’s face it, Bitcoin, blockchain, decentralization are the main ingredients we need in a world where big brother is watching us. The more decentralized blockchain based applications, the more the masses will eventually participate and eventually understand how it works, giving us simple people more power and hopefully financial freedom. There is a downfall for this too, because more anonymous participants and more tools for decentralization makes it an easy tool for scammers. There is no mention of this in the whitepaper but an important problem which can arise.
In the whitepaper Ascendancy main goals are however well described and the outlook for this young project are great.
- Creating usability, something many crypto projects are lacking, because like stated; Crypto or Crypto Currency’s are even in 2017 still something for technical oriented people.
- Modularity, like common in most innovation applications and even CMS packages, modules will be available to create, extent new features to 1 application. In stead of building everything within 1 application the daemon, client and SDK will be separate.
The Ascendency framework will consist of a DPOS Consensus (Delegate proof of stake), which offers the network but also users more security in terms of Network attacks, reward distribution. Stakeholders can rely on a safe an fast scheme which in turn can be used in many models; blockchain voting, consulting while at the same time it’s decentralized.
Token: ASC Consensus: DPoS
Total Supply: 44 Million ASC + Forging
Block Target: Every 10 Seconds Block Reward Structure: 5 ASC Per Block, reducing each year by 1 ASC until it after year 5 it will stay at 1 indefinitely
Delegates: 101 dAPP
Financing the project will go through an IPO where 42.240.000 Ascendancy coins will be sold (ASC). The Ascendancy IPO will run for a period of 42 days starting at the 27th of January @ 20.00 GMT. The minimum amount of coins to be sold is 4.800.000 which equals around 480 BTC ($ 418.000,- at todays price). But reading the Bitcointalk comments from the team, they are not very hard on this. In the case less money is gathered, they will look at their roadmap and see what and which features will be removed from the initial roadmap.