DICE MONEY — New Generation Of A Revolutionary Social Cryptocurrenc...

DICE is a revolutionary cryptocurrency which features great simplicity and different operational model compared to the rest. The main goal is to allow DICE to enter the everyday life as a normal currency alternative to the traditional money, while at the same time complete decentralisation gives power to social groups to raise funds through cryptomining. Users can now invest in business by simply mining DICE for that business. Organisations such as schools or hospitals can benefit from crowdfund mining while at the same time keeping the cryptominers incentivised as well. Individuals can enjoy full support from their relatives and close circle friends in mining to cover a home mortgage, and so on – the applications are limitless.

DICE introduces a new type “cluster economy” which is much more social and fair, and provides greater opportunities to individuals and small business to succeed with funding through support from their contact network.

DICE (abbreviated from digital certificates) is a new cryptocurrency that solves solve key problems of the blockchain.

MINING

The process of mining generates new DICE units. Newly mined units are initially owned by the miner who has produced them. The miner can then exchange them for physical goods, services, digital content, other currencies, or other DICE units.

When generating a valid DICE unit, the goal is to end up with a 1024-bit block of data consisting of the fields defined in the DICE structure, such that when SHA3-512 is executed on the DICE payload, and the resulting 512-bit output is then added to the original DICE header, a new hash produced from this newly built 872-bit “prototype” block will have a certain number or more of its least significant bits, all equal to 0.

Therefore a miner’s task is to produce a 664-bit “Payload” at a certain moment of time (the “Timestamp”) in order to achieve successful hashing of the entire 1024-bit proposed data block, and then to have that hash confirmed by the operator.

The overall mining process is schematically displayed below:

A proposed new DICE unit is formed from constant Operator and Miner addresses, a constant Threshold set by the operator, a real-time Timestamp, and a hash from the Payload generated by the miner.

The initial verification is performed locally by checking whether the result of SHA3-512 function has N or more trailing zeros. If this condition is not satisfied, the process repeats with a new Payload value.

If the condition for the minimum N trailing zeros is satisfied, the resulting 872-bit ”Prototype” is sent to the operator for validation.

The operator would normally not honour ownership claims for new DICE units with a mining timestamp older than a pre-set limit. The timestamp can also be used by the operator in the valuation process to incentivise mining of DICE units within a specified period of time.

TRADING

Trading in the DICE economy is based on ownership claims rather than active transactions. No ledger of transactions exists anywhere in the network. The process can be described in a few generalised steps:

Current owner provides DICE units to the new owner. This could be in the form of digital content (binary file, email), or physical form (paper note, file storage device). Units are encoded with the new owner’s public key.
Current owner places a claim for new ownership to the operator who handles the particular DICE unit used in the trade, providing the hash of the unit.
New owner verifies the DICE, and also places a claim for new ownership to the operator of the DICE, providing the hash of the supplied unit.
Operator verifies the validity of the unit, and the two claims, and stores in its private database the address of the new owner as the registered owner of the DICE with the provided hash.
Operator sends a response message to both parties informing them about the change of ownership of the unit.

This is repeated for every DICE unit involved in the trade.

WALLETS

DICE does not require any special type of digital wallet.

A “wallet” can take any form of storage where units are kept. That could be for example a USB flash drive (for files), an inbox (for emails), or a physical wallet (for printed notes).

In any case, a valid DICE unit is considered only a full 1024-bit block which can be validated successfully with the associated operator.

INITIAL DICE OFFERING (IDO)

The Initial DICE Offering can provide an easy way for a business to raise funds for its operation. In comparison with any other methods of fundraising such as ICO or IPO, expenses associated with IDO are minuscule and mostly come down to the cost of the operator’s server equipment and supporting software.

An IDO is how a new operator enters the DICE economy.

When a business initially executes an IDO and becomes an Operator, there are still no existing DICE associated with the new operator. The business needs to encourage users to start mining and thus generating value. Every new mined
DICE that enters the economy, is added to the valuation of the operator. Then by paying in DICE associated with the operator, a miner can acquire certain equity in the business, production, or service.

By using the creation timestamp in DICE, an operator may define premium-value units to be mined within a specified period.

THE DICE MONEY ICO

DICE Money is a commercial entity focused on development and distribution of end-user products and solutions for the DICE ecosystem. The purpose of DICE Money’s ICO is to ensure initial market penetration of DICE through the use of already established Blockchain technology. A secondary goal is to raise funds for the business and further development of the DICE global ecosystem.

The ICO for funding DICE Money will be in the form of a separate Ethereum-based ERC20 utility type token called “Dicet” (exchange symbol “CET”), which can be traded as separate asset on the blockchain market.
DICE Money consists of 100,000,000 Dicets priced in Ethers and allocated to six stakeholder groups.
No Dicets will be ever issued outside of this allocation plan.

DICET ALLOCATION

TOKEN USABILITY

The Dicet tokens can be traded on the blockchain exchanges but will be convertible into native DICE at a later date at a gradually decremental rate as follows:

DICE MONEY POST-ICO BUDGET UTILISATION

DICE Money has a distinct “R&D” focus with major part of the company’s budget going toward research and development of new products and solutions for the DICE ecosystem.

Another important chunk is allocated for expansion and support of the DICE cloud infrastructure, including address translation and security. We are planning to seek future cooperation with banks and established major payment processing brands for smooth implementation of DICE in the street market through compatible cards and card readers.

DICE Money will also commit to supporting the work of “DICE Money –Foundation” so the underlying DICE concept and protocol can be improved further along with extensive promotion and educational activities.

SWOT ANALYSIS

The following matrix is a SWOT analysis of the main Strengths, Weaknesses, Opportunities and Threats: