What is the mission of the Accelerator Network?

Accelerator’s mission is to add more security, speed, and decentralization to the Ethereum Network.   Accelerator is a Block Validation Service Provider.  We serve Ethereum similar to the way an ISP (Internet Service Provider) serves the Internet. 

What do Accelerator Tokens do?

Accelerator Tokens have a dual purpose.

Each Accelerator Token has the ability to multiply through a proof-of-stake staking process that takes place solely on the Ethereum network.

Second, Accelerator Tokens can be spent to mine and mint Ethereum on the Accelerator Network.

How were Accelerator Tokens initially distributed?

In October 2017 Accelerator Tokens were airdropped for free.

80% of the initial Accelerator Token supply was airdropped to website visitors and affiliates. 20% of the initial supply was distributed to the core development team.

Free Community Airdrop: 200K ACC

Core Development Team: 50K ACC

Free Airdrop (Completed Oct-26-2017).   200,000 Accelerator Tokens were distributed to the community through a free airdrop. Each unique website visitor received at random 10 to 100 free ACC Tokens. Affiliates received 10 free ACC Tokens for each person they referred during the airdrop.

The airdrop system was unique in the fact it required users to submit and verify an active and real cell phone number.   Distribution was approximately 95% – 98% accurate with a few bad actors claiming multiple airdrops.  Protections included airdropping to unique numbers monitoring different numbers for similar cell phone carriers, blocking burner numbers such as Google Voice and other suspect carriers, and also monitoring IP addresses.

Airdrop: 0x26D8208646e4E7998f136C8042c5B1F3832327Bb

Affiliates + Airdrop: 0xFd3fBD60f3d394374d692C0cb7E3B90f064009b0

Core Dev: 0x347fdeca4f170e59ce54ae63d2a841bcb39d3062

Since not everyone has staked the core team has inflated their initial distribution from 20% to 25% by staking it.  The Accelerator dev team does not plan to transfer their initial distribution anytime soon.

What is the difference between mining and minting?

Mining is the method of validating Ethereum transactions using spent energy through a proof-of-work process. Minting is the method of validating Ethereum transactions using virtually zero energy through a proof-of-stake process. The Ethereum network plans to rewards both types of validators with ETH in a hybrid model that we plan to utilize to its fullest.

What happens to the ACC that is spent on mining and minting?

The ACC tokens are sold back on the open market and the proceeds are used to purchase more physical computing power. The computing power is used for Accelerator Network mining orders and building an Ethereum stake that will eventually get used with minting.

Here is a diagram

When are mining and minting rewards paid out to my personal wallet?

Minting rewards are paid out every Monday at 3pm PST. Mining rewards are paid out randomly from Ethermine.org once a week. You must have accumulated at least 0.01 ETH while mining to get a payout.  You must have accumulated at least 0.05 ETH while minting to get a payout.

What is staking exactly?

Staking is an inflation system built in to the Accelerator Token which is a decentralized Ethereum application. It helps the growth of the market and the Accelerator Network.

Why is supply limited?

Supply is limited because there will only be a maximum of 10 million Accelerator Tokens in circulation. It will take approximately 16-35 years to stake all Accelerator Tokens. Less than 3 million tokens will be found within the first three years. Eventually inflation will not be crucial to the growth of Accelerator Network. The success of Ethereum ultimately will be the primary growth factor of the Accelerator Network.

What is a Teraflop?

Simply defined, a teraflop is a unit of computing that represents a trillion floating-point operations per second.

One RX480 has the capability of producing 5.8 teraflops.

One RX Vega has the ability to produce up to 12.66 teraflops.

What is Botman?

Botman is an automated system that sells ACC every hour on Fork Delta.   Botman serves two purposes.  First of all it provides a proof of concept for our minting system.  Second it keeps the market active.   Accelerators naturally want to stake, but it takes real market trade volume to keep the Accelerator ecosystem healthy.

What is Casper?

Casper is the energy efficient approach to block chain consensus.  Bitcoin and Ethereum currently use Proof of Work (PoW) to prove which block is the next correct block.  Through the Casper protocol Ethereum plans to move to a new Proof of Stake (PoS) consensus model, where bad actors are penalized by the slashing of their Ethereum stake.  Bad actors will suffer the same economic loss as they would currently trying to burn more energy than the rest of the network to cause havoc in the Proof of Work model.

Why wouldn’t I just save ETH on my own instead of using Accelerator?

There are obstacles to using Casper on an individual level.  You will need knowledge on how to run a full failsafe, always on, Ethereum validator node.  Also the big barrier to entry;  you need to have 32 ETH per validator to participate in this consensus model.

The major advantage of the Accelerator Network right now over any future Ethereum staking pool is that we will be making more ETH even before Casper is released through our GPU datacenter.  So instead of just letting your ETH sit there waiting for the POS Ethereum Beacon Chain you can start participating in the immediate transaction verification that will actually follow the proposed changes of the Ethereum network.