TEAMTALKS #18 — PYRITE
TEAMTALKS PROVIDES A SOAP BOX FOR THE CRYPTO TEAMS THROUGH RAW AND UNEDITED Q&A — THIS TIME I MET WITH PROJECT FOUNDER AND LEAD DEVELOPER ‘PYRITEPIRATE’ FROM PYRITE
INITIAL INTRODUCTION
Who are you?
I am pyritepirate.
What’s your role on Pyrite?
I am the project founder and lead developer.
PROLIFIC PROJECT
What are Pyrite’s key features?
I would say that the main feature of Pyrite is complete transparency, and a community-oriented approach to development.
As for technical aspects as of now, the thing that stands out is a PoW/PoS mechanism in which Proof Of Stake doesn’t generate additional rewards except transaction fees from using the network. That way we secure the network without overpaying for it as it’s often the case with Proof of Work/Proof of Stake hybrids which generate unnecessary inflation.
Why does the world need Pyrite?
That’s a good question. The project is a little over 2 months old. The world might not need Pyrite specifically at the moment, but it needs cryptocurrencies and decentralization.
Every project has an equal chance at succeeding in this space, at least in theory. I’m counting on community involvement and adoption to drive Pyrite forward.
I think in 2019 there will be a lot of emphasis on no-premine projects as much as there will be on privacy and financial freedom in general.
COMPROMISING COMPETITION
Who are Pyrite’s competitors?
All coins compete with each other more or less, but I would not look at Pyrite needing to compete with anyone in particular.
Why is Pyrite superior/different to its competitors?
First of all, we don’t promise anything besides fairness, so that’s already new.
Nowadays it seems that there is a coin for everything. It’s really silly when you think about it. Pyrite isn’t a company, it’s fool’s gold, a meme.
It might become great, it might die like thousands of other coins - some might find it nostalgic of 2014 crypto.
Deeper Dive:
Why did you choose to aim at being a ‘store of value’?
I think that with the distribution curve that we have it’s what makes the most sense.
Half of coins or close to it will be mined in the first year to two years depending on the PoW : PoS block ratio with each halving every 105120 blocks.
Is it a goal to be ASIC-resistant also in the future?
Unless accessibility to fpga mining equipment changes I will always opt-in to keep mining as decentralized as possible. As we currently stand there is only GPU and CPU mining available. ProgPow looks like a no-brainer and is something to be seriously considered in the future, unless other similar options appear.
Some of your layout reminds me a bit of Piratechain — do you have any connections to this project?
No, that’s the first time that I hear about it. Glad I didn’t choose Pyritechain as the name…
Are u thinking about creating a roadmap in the near future or are you just gonna play it as it comes?
It depends. If you look at dogecoin, litecoin, peercoin, etc; did they have roadmaps at the beginning?! It’s good from a marketing point of view to have a roadmap, but having a strong community is more important.
What is your plans regarding exchange listings and is this a priority all in all?
We have a pretty active OTC channel in discord (https://discord.gg/NJajNNx). It’s enough considering how small we are at the moment. Exchange listings will happen later, as it’s not a priority right now.
TEAM TENACITY
How does the Pyrite core team look right now?
As of now it’s just me being the sole team member.
There are a few community members/miners who have contributed on a much smaller scale which I am thankful for. Hopefully as the community around Pyrite grows we will see more people involved.
Are there any plans of team expansion?
I am looking for more developers and a community manager to join at some point.
It’s tough without a budget, but we’re working on ways to reserve funds for outside development and bounties. I just don’t think having a premine of any sort is ethical, especially for forks.
END EXPERIENCE
How will the man on the street experience/use Pyrite?
A mobile wallet to start with would be a good method. Something to work on…
How will ordinary shop owners & small businesses?
Having merchant adoption is very important. PYE is ready for it. As a matter of fact, I might make some merch soon myself.
How will government bodies and large corporations?
I hope government bodies stay far away from it and don’t bother us. As for large corporations, that totally not my world. It took them years to even notice bitcoin and plenty of them are still skeptical about it.
How will the crypto investor?
I can’t really speculate on price.
If you like fairly-distributed, no-premine, transparent, mineable projects then you should like PYE.
FORESEEN FUTURE
What is the next big thing for Pyrite?
The codebase is a fork of blackcoin, so there are/were things that need/ed to be addressed, as the codebase is 2 years old.
The next big thing… hmmm… I don’t know, we’ll see…
Where do you see Pyrite in 5 years?
That’s a long time in crypto.
If in 5 years we don’t see Pyrite in crypto-graveyard it will be a success.
Everything will depend on mass adoption and it’s hard to predict.
THANKS TO PYRITEPIRATE & PYRITE FOR WANTING TO PARTICIPATE & PROVIDING SUCH LEVEL-HEADED ANSWERS! I, FOR ONE, WILL BE FOLLOWING THIS PROJECT CLOSELY!
MUCH OBLIGED, FLASHY GORDY
Pyrite Links:
Homepage: https://www.pyrite.pw
Discord: https://discord.gg/NJajNNx
Github: https://github.com/pyritepirate/pyrite
Twitter: https://www.twitter.com/pyritepw
