RoleCoin

RoleCoin – Proof-of-progress for education.

RoleCoin: A digital currency that tracks, measures and rewards the skill and career development progress of its recipient.

STEAMRole helps the workforce of the future discover whom they can become and how to get there.

RoleCoin and its accompanying blockchain dashboard provide proof-of-progress to education, career, and economic development focused organizations, impact investors and foundations.

RoleCoin is the digital currency that fuels and incentivises an ecosystem of steamers, role models, the companies that recruit them, and the organizations that develop them.

Simply,  RoleCoin  is  the  currency  of  the  STEAMRole  network. All transactions require  RoleCoin  and  all  rewards  are  paid  in  it.  The  coin  will  serve  an  important function  in  incentivizing the actors in the network to help grow it further. Whenever a contribution is made on the platform, the contributor is awarded in Rolecoins.

Rolecoin’s  Proof-of-Progress  (PoP)  protocol  will  leverage  Stellar  Lumens Blockchain  technology. Stellar was designed from the ground up to support efficient trading.  Using  Stellar’s  blockchain,  any  RoleCoin  can  be  bought  and  sold immediately  on  Stellar’s  decentralized  exchange  by  means  of  Stellar’s  native  offer mechanism.  Holders  of  Rolecoin  will  not  have  to  rely  on  a  third  party  exchange  to list  or  make  a  market  for  them.  STEAMRole  will  embed  Stellar’s  exchange  into  its Proof-of-Progress  dashboard  for  easy  access.  A  Rolecoin  wallet  will  also  exist within each user account on STEAMRole’s network.

Technical Aspects 

Traditionally,  tokens  have  been  issued  on  the  Ethereum  network.  However, Ethereum  is  not  always  the  ideal  choice  for  ICOs.  Recent  expansion  of  application on the network has led to slowing transaction times and increasing transaction fees. Additionally,  Ethereum’s  Turing  complete  smart  contracts are unnecessary for some tokens, including RoleCoin.

Stellar  token’s  smart  contract  capabilities,  including  multi-signature authorizations,  generate  dividends,  limit  who  can  hold  tokens,  and  will  fully  satisfy the  requirements  of  RoleCoin.  Transactions  using  Stellar  are  near-instant,  with  the median  transaction  speed  being  5  seconds.  Just  as  importantly,  fees  on the Stellar network are currently less than a penny.

While  Stellar  is  less  expressive than Ethereum, the simplicity of its transaction model  creates  fewer  pitfalls  and  hence can improve the security of applications that do not require the full generality of Turing-complete smart contracts.

Simply  put,  Stellar’s  model  of  atomic  multi-operation  transactions  leads  to more  auditable  code,  limits  uncertainty,  and  decreases  the  risk  of  harm  from  any actors  who  may  seek  to  exploit  program  vulnerabilities.  Moreover,  Stellar  offers issuers the ability to freeze tokens in the event there is misuse.

Proof‑of‑Progress mining 

Users  of  the  platform  can  earn  or  mint  Rolecoins  (ROLEs)  by  partaking  in activities  that  enhance  themselves  and/or  the  platform.  There  are  both commonalities  and  differences  based  on  the  type  of  STEAMRole  member  the  user is.

The different ways to mint are as follows:

All Members  

• Every time a member invites someone to join the STEAMRole Platform they are rewarded 5 ROLE
• When a new member joins the platform they are rewarded 10 ROLE

STEAMers 

• Can mint additional coins every time a Roadmap skill is completed and validated. Each validated skill earns the STEAMer 5 ROLE
• Can mint additional coins by following at least 10 STEAMRole Models. Upon successfully following their first 10 role models, the STEAMer will earn 10 ROLE

STEAMRole Models 

• Every time a role model provides additional resources, like inspirational (story clip) videos, they earn 5 ROLЕ
• Popular role models can also earn Rolecoins by producing webinars that STEAMers pay to access, via a set number of ROLE

Reward Adjustment 

The  allocation  of  the  tokens used to incentivize the growth of the network will follow  a  proof-of-progress  (PoP)  protocol  as  explained  in  the  previous  section.  As the  network  grows,  and  more  Rolecoins  are  mined,  the  number  of  Rolecoins awarded will be automatically reduced.

RoleCoin’s  blockchain  will  automatically  do  a  weekly  difficulty  adjustment  to keep  the  number  of  newly  mined  Rolecoins  that  are  awarded  following proof-of-progress  consistent  with  its  value  at  the  time  of  ICO.  Should  the  value  of RoleCoin  increase  over  time,  the  number  of  awarded  Rolecoins  decrease. Conversely,  should  the  value  of  RoleCoin  decrease,  the  number  of  awarded

Rolecons will increase as per the following formula: Rn = Ro(Po/Pn)

Allocation 

The RoleCoin blockchain, once fully mined, will consist of 1 Billion RoleCoin.

• 35% (350,000 mil.) of the tokens (i.e., Rolecoins) will be allocated through ICO and pre-ICO sales.
• 30% (300,000 mil.) of tokens are mined through the Proof-of-Progress protocol. They act as rewards to anyone participating in the network.
• 20% (200,000 mil.) will be distributed to founders and shareholders who provided funding to STEAMRole prior to the RoleCoin ICO.
• 15% (150,000 mil.) will be held in reserve by the company for future employees, advisors and contributors to the RoleCoin ecosystem.

Use Of Proceeds 

• Tech Development — Engineering Team, Server costs, etc
• Sales – Sales team and resources for signing of corporate partners and onboarding educational merchants