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      "title": "DEFACTO Project Announcement",
      "body": "View the DeFacto Project website for more info and demo!\n\nTHIS IS THE ONLY OFFICIAL DEFACTO TOKEN, PLEASE DO NOT USE ANY OTHER CONTRACT\n\n ![](https://cdn.steemitimages.com/DQmYB94EELyrF6oEDYQ8Jr5wcpBZgPpNx22PaKVtEjT2Sxy/image.png)\n\nWhat is DEFACTO?\n\nDEFACTO delivers a voting and polling solution on the blockchain to create a ‘Better World Through Fair Voting’. Until now traditional voting has been fundamentally flawed due to lack of transparency and being centralised as a process and system. \n\nThe innovative DEFACTO structure addresses key issues with the way in which voting currently takes place and coordinates activities on the blockchain on a bespoke crypto platform. This whitepaper seeks to detail the specific items and activities which DEFACTO will action in order to achieve these goals. 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Please contact us if you’re crazy for crypto and interested in joining our team.\n\nOur development team all utilise best coding practices and are fully vetted to ensure the highest level of commitment to the project. \n\nWe are always appreciative to new members so please get in contact with us if you believe you can contribute as a developer, tester, admin or moderator, marketing specialist, adviser.\n\n\nWhy DEFACTO?\n\nDEFACTO is a Proof of Stake (POS) Privacy & Polling Digital Asset.\n\nProof of Stake (POS): You will accrue annual profits and compound interest using our Proof of Stake (POS) system. Generous rewards in place for nodes who stake their DEFACTO coins.\n\nPrivacy: You can choose to remain anonymous on the blockchain with our bespoke ‘Spectre Protocol’ which incorporates the latest blockchain security features.\n\nPolling & Rewards: Submit your opinions and propose items to be polled on our decentralised dynamic voting system cast as an immutable ledger on our bespoke blockchain platform. Get rewarded for your efforts and contributions to the platform and product.\n\nDEFACTO is truly decentralised and borderless to allow users to propose and cast votes which will help to define policies and shape the society in which we live. Record your views forever and ask other users their views and opinions. 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Feel free to ask questions or give criticism! \n\nTelegram CHAT: https://t.me/defactocoin\nDiscord: https://discordapp.com/invite/92pTfb7\nTwitter: https://twitter.com/@defactocoin\nFacebook Page: https://www.facebook.com/defactovoting/ \nReddit: https://www.reddit.com/u/DefactoVOICE \nSteemit: https://steemit.com/@defactovoting \n\nMARKETS:\nExchange partners to be announced following the Token Sale\n\nDEFACTO coin markets to be listed on main net launch.\n\n\nThis thread will be one of several principle channels for DEFACTO based discussions and announcements. Be mindful of any external links posted by users on this thread. DYOR and do not disclose your private keys to anyone!\nWelcome to the DEFACTO family.\n \n![](https://cdn.steemitimages.com/DQmQfH6FkYprsLngg1e9Zex9dgptyracD5M692mcJ2saKW7/image.png)",
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      "body": "**Coins mentioned in post:**\n\nCoin | | Price (USD) | 📈 24h | 📈 7d\n- | - | - | - | -\n**ADA** | Cardano | 0.189$ | _22.23%_ | _44.52%_\n**BTC** | Bitcoin | 7426.150$ | _8.52%_ | _15.9%_\n**ETH** | Ethereum | 493.913$ | _3.55%_ | _11.58%_\n**XRP** | XRP | 0.511$ | _6.34%_ | _13.76%_\n**XVG** | Verge | 0.027$ | _10.9%_ | _23.83%_",
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      "body": "Thanks bud ))",
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      "body": "Lifting the Lid on Blockchain\n\nWhat is Blockchain?\nCurrently when conducting conventional banking transactions, a third party is required. Blockchain eliminates the need for this third party allowing users and providers to transact directly.\nBlockchain is effectively a decentralised database which is an immutable ledger of transactions or other data that every user on the network can view. The Blockchain is built on computers / nodes which must verify and therefore approve a transaction before it is confirmed and recorded on the chain.\n\n![](https://cdn.steemitimages.com/DQmW2BqYHDhC4sKUejLRnVEBZXJiND6Gfo5RNe5Y6cKCzgc/image.png)\n\nFor example;\nStuart wishes to send funds to Ben and submits a transaction from his wallet address to Ben’s wallet address. The transaction from Stuart is posted onto the network on a ‘block’. Anyone online on the network can see the block and the first for example 30 people to validate the transaction on that block are confirming that the transaction is indeed valid. At this point the ‘x’ number of confirmations (as defined in the code for the particular blockchain) mean this data is then stamped onto the network and recorded on the ledger. The funds have now been passed from Stuart to Ben.\n \nEach Blockchain uses their own crypto currency which are often referred to by their short code. For example, Bitcoin (BTC), Ethereum (ETH), Ripple (XRP)\nEach blockchain has different use cases from Fintech to Anonymity etc – it is important to understand that transferring funds is the primary use currently but the usage of blockchains can be for ubiquitous utility. Some companies even leverage multiple blockchains in one network.\nPlease note there are over 1500 Blockchains currently active from various tech start-ups each with their own USP’s and are at varying levels of development.\nProof of Work – The blockchain description provided relates to POW where computers on the network use their computing resources to validate blocks on the network. This uses computing power and energy. \nAnother type of Blockchain exists utilising POS (Proof of Stake) Proof of stake is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies, the creator of the next block is chosen via various combinations of random selection and wealth or age. In contrast, the algorithm of proof-of-work-based cryptocurrencies such as bitcoin uses mining; that is, the solving of computationally intensive puzzles to validate transactions and create new blocks. Proof of Stake uses far less energy and computing resources so many tech start ups are moving in that direction.\n\nWhy use Blockchain tech?\n•\tSpeed of transactions – It’s far faster than BACS or SWIFT – Ripple (XRP) currently works with major banks.\n•\tScalability – Blockchain can scale as the market does to allow more users to transact seamlessly.\n•\tVolume – Latest Blockchains can process 1000 TPS (Transactions per second)\n•\tAnonymous transactions (if required) for example Verge (XVG)\n•\tAudit trail – Every transaction entered is recorded on an immutable ledger\n•\tCost reduction – Clicks & Clicks will replace Clicks & Bricks so less need for bank or operational staff. Greatly reduces infrastructure costs\n•\tFees – Fees are miniscule in comparison to the banks no matter how much you transfer\n•\tBorderless money. Whilst on the blockchain funds have no borders.\n•\tDecentralised – With no fixed server there is no one point for attack. The network is far safer than a traditional centralised site\n•\tCompatibility with Web 4.0 iOT\nUse Cases\n•\tSending funds is the current primary use\n•\tSending information which also gets recorded on the network. For example: Cardano (ADA) stores scientific info\n•\tAs a store of value. Bitcoin was designed as a way of moving funds but has morphed more into a store of value with Blockchains such as Ethereum (ETH) replacing it as a way of sending money from A to B. This is because other providers offer lower fees to send funds than Bitcoin.\n•\tTrading – Digital assets are currently being traded with volumes increasing exponentially.\n•\tThere are many use cases beyond just sending funds from A to B.\nStats\n•\tThe current market cap for all traded crypto currencies is $408 billion\n•\tThe current market cap for Bitcoin alone is $149 billion\n•\tBitcoin rose form ~$4000 last year to $8784 today per BTC\n\n\n\n\nAcronyms & Key Terms\nBlockchain = Network (decentralised immutable ledger)\nNode = Computer on the network\nSuper node = Main computer on the network\nBlock = Data packet on the network containing transactions and other info\nCrypto-currency = Digital asset\nPOW – Proof of Work – The blockchain description provided relates to POW where computers on the network use their computing resources to validate blocks on the network.\niOT – Internet of Things – A future where your TV, Fridge or Microwave may process complex calculations in addition to it’s main function. https://en.wikipedia.org/wiki/Internet_of_things",
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