Intro

A historic window has opened

Bitcoin’s Blockchain technology is at the advent of becoming critical infrastructure for the world. Smart contracts are finally unbounded on top of bitcoin. But mining does not reflect the “unbounded” nature of Satoshi’s Vision. The training wheels have been taken off, but mining is still constrained by the thinking of the past era. Our goal is to revitalize and re-innovate mining for this new era with a next generation on-chain mining pool and to fund it by conducting the first true crowdsale on top of Bitcoin.

We propose a decentralized, on-chain mining pool for truly-unbounded, general-purpose computation on Bitcoin as envisioned by Satoshi Nakomoto (BSV). It overcomes limits of existing pools by compensating miners proportionally to block size and the amount of energy required for executing unbounded smart contracts, thereby creating an energy oracle. By fairly rewarding general computation, MOAT will shift payouts towards miners on general-purpose hardware.

Whether you're a miner, a smart-scrivener, a quantum information scientist or just a kitchen (al)chemist, you can now be part of minting a new era.

Read more about us on Medium!

Info


Bitcoin’s training wheels have been taken off, but mining is still constrained by the thinking of the past era. We will revitalize mining with a next generation, on-chain mining pool and fund it by conducting the first crowdsale for the first feature-complete token on top of Bitcoin. This mining pool will be founded on a new concept of mining for the new era of Bitcoin.

Mining has to change, because the work to mine a block has changed. The nature of the work required to validate a block of transactions and build a block header in the era of unbounded smart contracts is very different from pure hashing. For miners whose endeavours are rapidly commoditized over time, the difference between accurately accounting for this work, versus not doing so, can mean the difference between being in the black or in the red. As smart contracts become longer and more complex, this problem will get much worse.

Mining needs a new way to reward the miners for their work, a method that scales with the block size and complexity of the contract. There is one way to measure work that is easy to validate and hard to fake: power consumption. Computation requires energy. We incentivize succinct snapshots (power attestations) from your GrandMa’s Bitcoin miners about their power consumption. Power attestations will then be validated using gametheoretic guarantees and network analysis, then used in the payout structure.

Incidentally, these snapshots will also serve as proof-of-delivery of electricity allowing us to build on-chain marketplaces for electricity and energy tokens. Mining is the outpoint for all the energy that goes into Bitcoin, and of course it's also how transactions are processed. If we track the energy of mining on-chain, we also track the energy of transactions, smart contracts, and computation. By creating a network of power attestations, the network could become a global energy oracle.



Token Sale

Timeline

June 2021 - Token Presale
August - Crowdsale Begins!
September - Crowdsale Ends!
November - Fully Decentralized, On-Chain Mining Pool
January 2022 - Energy Accounting On-Chain


Token Allocation


Crowdsale

Length - 28 Days


Rounds: 5


PRE SALE 🏰
30% of Sales Tokens


LAND 🌎
25% of Sales Tokenss


WATER 💧
20% of Sales Tokens


AIR 🌬️
15% of Sales Tokens


FIRE 🔥
10% of Sales Tokens


Purpose

The MOAT Token (XRN) Crowdsale will support the development, operations, and maintenance of the Moat Network. It will provide funding to the Founding Team, including engineers, advisors, and business operations. It will also provide grants for the support and growth of the Moat community. A percentage will also go toward the Foundation to support Moat's longterm progress and survival. There will be ~210*10^6 total tokens corresponding to the energy necessary to mine each satoshi.

Token Distribution

Tokens will be distributed in the form of an auction. The bigger your purchase is, the bigger the total percentage of tokens you will receive. For example, if one person purchases tokens for a thousand dollars, they would receive 100% of the tokens alloted for the crowdsale. But if someone else then makes a purchase of 9,000 dollars, the first person would get 10% of the crowdsale, and the second would receive 90%. The final allocation will be determined at the end of the crowdsale period.

Token Delivery

The allocated amount of tokens for each buyer will be sent after the end of the crowdsale to the address the buyer providesd during the sale. For this reason, you will need to provide a BSV (Bitcoin Satoshi Vision) address.

Token Rounds

The price of XRN in each round will depend on the amount of BSV contributed to buy XRN. The remaining XRN will be mined over time and rewarded to bitcoin miners, other power use attestants, and oracle participants.

Token Use

The tokens will be used in the future on the Moat Network to reward miners based on the energy they contribute. For this reason, you can think of MOAT as both an Energy Token and a Mining Token. This gives it concrete value, since it will represent the amount of Bitcoin mined in the network.

Team

Kinnard Hockenhull - Founder

  • Founder and CEO of Bitbox
  • LinkedIn

  • Kinnard has been instrumental in the Crypto Community for the past decade. He created Bitbox, which was the 5th Largest Bitcoin Exchange in the world. He has also created many crypto communities, including Crypto Forrest, weekly events, and taught classes for beginners. He is also the founder of the Castle Company, which creates a living space for developers. He maintains the Crypto Castle - the community that created Augur - the world's first tokensale on top of Ethereum.

    Jaeson Booker - Founder

  • Blockchain Engineer, Insight Data Science
  • LinkedIn

  • Jaeson has been involved in many crypto projects. He helped develop the curriculum for the world's first University-level Blockchain class while at Domincan University. He has assisted with teaching students how to create smart contracts, tokens, and decentralized applications. He has worked with Insight Data Science to create a project for incentivizing data science contributions using Ethereum. He is co-founder of the Castle Company, working to scale the number of developer communities for blockchain engineers around the world.

    Contact

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