Short description
Vulcano ($VULC) is a Proof-of-Stake and Masternode-based cryptocurrency with a focus on geothermal research and development. Named after the Vulcano island in the Tyrrhenian Sea, a geothermally active area, Vulcano strives to use blockchain and distributed consensus to help contribute to raising funds for the advancement of earth-science based technologies such as geothermal power. With a heavy focus on community, Vulcano strives to become a strong community-based effort to advance scientific research. Read our whitepaper for more details! Join us as we erupt into the cryptosphere to create a outpouring of positive change as a shining example of the true potential of blockchain technologies.
Abstract
Vulcano (Ticker: VULC) is a community-oriented coin originally created at the end of 2017 by a now completely absent development team. Initially, it was conceived as only a “high staking coin” with an annual return of 950%. However, due to several errors on the part of the initial development team, the actual rate was closer to 320,000%. This passed unnoticed until a member of the community calculated this effective rate by examining the blockchain from the Genesis Block. Once this fundamental weakness was exposed, the new Vulcano team, comprised of members of the community, came together to both salvage the Vulcano project on both a technical and philosophical level through a complete rebuild and the development of a real use case. This whitepaper lays out a strategy for a total upgrade of Vulcano and a relaunch of the newly upgraded coin as a means to fund geothermal exploration and research.Rather than simply fixing the percentage rate problem with Vulcano, we have elected to completely upgrade the coin to a new code base. In order to best modernize the Vulcano Core, the Vulcano team has decided upon Bulwark as a code base. Bulwark is built upon PIVX, which itself is built upon the popular DASH cryptocurrency. This critical decision will give us the ability to implement masternode functionality, governance, and eventually allow the integration of hardware nodes to support the Vulcano ecosystem. In doing so, we will create a more truly decentralized system of governance and coin staking and network security.