Technical-Whitepaper Basic Overview
The REcoin cryptocurrency is designed to facilitate a wide range of financial transactions, which is
- Real estate holdings in stable and developed economies, such as the United States, Canada,
Japan, the United Kingdom, and Switzerland;
- Economic and technical elements that support the coin’s attractiveness as a payment method for
transactions within the real estate market;
- REcoin’s development team, which includes lawyers and programmers, who have crafted a
system of smart contracts for the rental and sale of real estate holdings;
- A carefully developed ecosystem that includes partnerships on various internet platforms.
REcoin as a cryptocurrency is built upon its real estate portfolio, in which the proceeds from the initial sale
of tokens are invested, as well as 83% of the mining within the next fifty years of issue.
The target audience is represented by three main categories of real estate market participants:
- Real estate brokers (who are licensed to operate as Real Estate Brokers) are key players in the
real estate market who, by virtue of their professional activities, are the first to assess the
advantages of new technologies and introduce them into their daily practice;
- Sellers (landlords) and buyers (tenants): This is the most numerous category, which at any given
point is representative of almost everyone in the general public;
- Service providers: Individuals and companies that provide various services for real estate market
By the time of launch, the REcoin ecosystem will be represented by the following Internet platforms and
- 101REbid – an online platform for conducting auctions for the sale and lease of real estate;
- 101CoWork – an internet service for locating or offering real estate services;
- 101News – a news website dedicated real estate issues;
- 101CoLiving – a platform where people could find a place for co-living around the world;
- 101MLS – an internet platform for realtors;
- 101FundIt – an internet platform for real estate crowdfunding.
The tokens minted during the mining process will be distributed between the miners closing the block (15%)
and 101REcoin Trust (83%), while 2% will go to charity.
Confirmation of each block will occur every 20.5s (similar to the Ethereum network, ). The block volume limit
is 12 KBytes.
The process of mining is set up so that it remains attractive enough for the members of the network who are
creating blocks, without which it is not possible to create a network consensus (PoW technology is used
here), while at the same time ensuring that the operation of the REcoin platform is a source of financial
guarantees for its members.
- The annual mining program is established according to a progressive formula, which means that the
number of minted tokens increases annually through mining. The stronger the network, the more the
issue of coins.
- In total, 999x10 ^ 9 coins will be issued in the process of mining, which will continue for 50 years.
- Tokens minted through the mining process will be distributed according to the following proportions:
- 15% - miners;
- 83% - to 101REcoin Trust, for use in further investments;
- 2% - for charitable donations.
amount to support the interest of the miners to continue their work. Specifically: only in the first year, the
miners will receive 16 million RCN, by the sixth year the income of the miners from the annual mining will
increase by a factor of 10, and by the year 20, the miners will earn 1 billion RCN in the process of mining.
Creating REcoin Sidechains
In the REcoin code it is stipulated that the creation of sidechains requires there be a wallet with AltCoin in
the amount of 1,000 ALTC.
AltCoin are tokens designed to protect the REcoin cryptocurrency from creation of uncontrolled or
unauthorized sidechains. Their total emission is set at 100,000 ALTC.
The mechanism of the ratio of mining on any sidechain and the 101REcoin blockchain is similar to the
process of mining REcoin itself.
ALTC distribution mechanism:
- The REcoin Foundation owns the AltCoins at the time they are created. The minting of the tokens is
one-time and there will be no subsequent issue of these tokens.
- The applicant for the creation of a new sidechain will submit an application to the REcoin
Foundation, which includes a full description of the future project, mathematical calculations and
- REcoin Foundation will consider the application and, if approved, till transfer the required amount of
1,000 ALTC to the applicant, which then makes it possible to a create an approved sidechain.
Conducting transactions in the cryptocurrency REcoin implies the possibility of charging a commission for
confirming this transaction on the blockchain, similar to that practiced with other cryptocurrencies.
Miners will receive 92.5% of the amount from a voluntary commission.
The remaining 7.5% will be distributed between the Founder REcoin, Maksim Zaslavskiy (0,5 %), the organization
providing technical and service support to REcoin (1%), and donors and charitable organizations and their
associations, which will comprise 6% of the voluntary transaction commission.
Official sources Website | White Paper | Twitter | Facebook | Reddit