Newcoin ~ The Trust Layer
Newcoin is a blockchain protocol based on Proof-of-Creativity, a new form of sybil proof that combines credentials and TVL into an on-chain, algorithmic score that represents the history of creative energy.
Newcoin is an innovative framework that leverages the Proof-of-Creativity (PoC) approach to establish a trust layer for the internet. The PoC mechanism relies on the aggregation of various identity proxies, which represent an account owner's creative energy, skills, and cultural capital. Newcoin employs a fungible Soulbound token, called Watts, as a metric to capture both quantitative and qualitative aspects of an account holder's creative energy. This trust layer aims to foster decentralized, value-driven collaboration and innovation, challenging the traditional centralized institutions.
Core Design Principles
✺ Authentic Identities: Newcoin focuses on unique personal attributes, achievements, and connections, making it difficult to artificially replicate identities. This strengthens the authenticity of the system and aligns with the New Economy's emphasis on antifragility and coherence.
✺ Global Consensus and Incentivization: By enabling a global consensus on the value of achievements and behaviors, Newcoin incentivizes and gamifies contributions aligned with the ecosystem's values. This resonates with IOSDK's high bandwidth principle and the New Economy's focus on anti-rivalrous behavior and cooperation.
✺ Decentralized Governance: Newcoin encourages a decentralized governance model with a power-law resistance mechanism to prevent the concentration of power and maintain a fair distribution of decision-making authority. This aligns with the New Economy's prioritization of equitable resource distribution and interconnected systems.
✺ Privacy Preservation: By implementing privacy-preserving technologies such as zkSNARKs, Newcoin ensures user privacy while maintaining transparency in valuation. This is consistent with IOSDK's emphasis on ownership and control over data, as well as the New Economy's focus on intrinsic motivation and comprehensive value accounting.
✺ Token-Gated Experiences: Newcoin facilitates token-gated experiences, data, and AI swarms that reward supporters while fostering local, pluralistic coordination around each profile. This aligns with the New Economy's principles of instantiation, flow dynamics, and synergistic resource allocation.
✺ Decentralized Safety Measures: By implementing safety measures like preventing users below a certain PoC Watts threshold from dropping NFTs, Newcoin ensures that the community can vet creators and maintain a focus on high-quality assets. This aligns with the New Economy's focus on catastrophic threat disincentivization and whole systems resilience.
✺ Scalability and Inclusivity: Newcoin provides a scalable and inclusive environment that welcomes diverse perspectives and ideas, contributing to the trustworthiness of the network. This resonates with the New Economy's emphasis on omni-consideration, transcending rivalrous game theory, and moving towards a holistic, cooperative model of collective intelligence.
