cybill - Core software for the cryptocurrency CyBill
UNDER CONSTRUCTION, STAY TUNED!
Copyright (c) 2009-2012 The Bitcoin Core Developers
Copyright (c) 2012-2014 The PPCoin Developers
Copyright (c) 2014-2017 The Magi Core Developers
Copyright (c) 2018 The CI Wise Developers
CyBill is derived from Bitcoin, PPCoin, Magi Coin, and is released under the terms of the MIT license. See COPYING for more information or see http://opensource.org/licenses/MIT.
CyBill (pronounced: Sigh-Bill) is a cryptocurrency for everyone. CyBill was derived from the Mayan (Yucatan) word, Sibill for gift. The first cryptocurrency, BitCoin is not really a coin but is more a chain of trusted transactions. This chain is verified digitally to prove accuracy and trust in the transaction. It is our intent that the CyBill be a bill of currency protected and trusted using Bitcoin's well-tested block-chain technology. The CyBill can be mined using common CPU processing. The implemented algorithm prevents miners using ASIC or GPU processing because the algorithm throttles this form of mining and excessive energy waste. So you can mine CyBill with common hardware like your PC, laptop, Macbook, cell phone, or even a Raspberry Pi. Mining software will be written to compile on many different platforms.
CyBill is an online payment system that provides a virtual currency that can be given to anyone in the world without using an intermediary such as a bank. And, like cash, this coin supports financial transactions between people and not corporations. CyBill coins can be minted by computational devices including personal computers and portable devices through special algorithms called proof-of-work (PoW) and proof-of-stake (PoS). CyBill aims at fairness, cost effective and energy efficiency during coin minting. CyBill is a hybrid PoW/PoS-based cryptocurrency that aims to provide stable, secure, and steady value. CyBill is considered a CPU coin.
CyBill aims to provide stable value in a coin that can be used easily around the world. The CI Wise developers will have stake in the technology behind the issue, use, and security of the coin. With this ownership comes responsibility. The CI Wise developers will have great responsibility for it's value. Our strategy for valuation and stability of the coin is still under draft.
CyBill's proof-of-work (PoW) protocol is being reviewed and refactored. Proof of Work (PoW) is a network-dependent rewarding model system. The PoW rewards participants who solve complicated cryptographical questions and validate transactions. It is also used to create new blocks in order to generate coins. The coins mined via PoW are adjusted and balanced by two primary mechanisms: 1) stimulating network activities by issuing rewards, and 2) mitigating redundant mining sources by reducing rewards.
CyBill's proof-of-stake (PoS) protocol is also being reviewed and refactored. Proof of Stake (PoS) aims to achieve distributed consensus through operations in addition to PoW. PoS is designed such that it rejects potential attacks, for example, through accumulating a large amount of coins or offline stake time. CyBill will hybridizes PoW with PoS, integrating both consensus approaches in order to acquire benefits from the two mechanisms. PoS particularly enhances the overall security of CyBill as a cryptocurrency.