By the end of November we launched our Chapter Network with quite a remarkable success. That month the community consisted of about half a dozen chapters, mostly central European countries. On December it exploded, reaching more than 60 chapters from all around the globe and extending to all major languages. January was a month to get organized and define goals.
Our proposal was simple, to mine our tokens it is not enough to download a program and put it to run on a computer. You need to add more value, and what we need at the current stage is to spread the word about Fermat. That is why chapter members run local social media in their own countries. For each task they tackle, they are entitled to a mining license.
But an extra incentive was needed to grow the network. We all know that in the crypto-world everything is about incentives. For that reason, a mining license is possible to be acquired just by referring a founder of a new chapter in another country. By doing so, the referrer enjoys for the life-span of the project a mining license as long as the referred chapter is active.
But what many people didn’t realize is that the referral mining license is the only one that you can get and maintain just by doing a finite amount of work. In all other cases you need to do a day by day job: running a local Fermat twitter account might not be a big deal, but you have to take care about it every single day for the next 80 years of the project in order to keep your license active. In contrast to that, a referral license requires you some upfront time to be spent, and then you can mine with it for 80 years as long as the referred chapter is active.
At current token price this might not sound like a very big deal, but keep in mind that bitcoin miners currently mine 50M dollars a month. Once we get there, believe me each mining license will be a big deal.
If you heard some click inside your head, then go and find the missing countries or US States and claim your referral mining license for life!
Thanks to Amadeo Charlé for the editing.
If you are interested in learning more about this technology, this list might help you:
- “Fermat, the Internet of People and the Person to Person Economy.”
The Internet of People architecture dissected.
- “Introducing the Graphchain.”
The cryptographically secured data structure we use to store profiles and their relationships.
- “Introducing Redtooth”
Like Bluetooth with global range.
- “The Profile Server.”
The cornerstone software of the Internet of people.
- “The Location Based Network.”
The geo-located network that help other services to be geo-localized.
A bit about me: I am a systems architect who started his career designing and building banking systems. Later I turned into an entrepreneur. Three years ago I learned about bitcoin and decided I would use the underlying technology to fix the biggest problem we have as humans: “unlimited concentration of power”.