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.
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.
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.
Affiliates + Airdrop: 0xFd3fBD60f3d394374d692C0cb7E3B90f064009b0
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.
We believe crypto should be free, and that you should be able to interact with Accelerator just using Ethereum alone. However we do recommend signing up to spend tokens on the Accelerator Network’s mining and minting services.
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.
You can start a mining or minting order by going to https://app.accelerator.network/orders
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
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.
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.
Staking is simple: All you need to do is hold Accelerator tokens in any Ethereum wallet address for at least 3 days. Then send .001 ACC from the same wallet address to the same wallet address. You can use the staking calculator here https://www.accelerator.network/#staking to estimate returns and determine when to stake. Please read our user guide for more information on how to stake. https://support.accelerator.network/getting-started/
First Year Inflation – 300%
Inflation Beginning October 6th 2018 – 100%
Inflation Beginning October 6th 2019 – 50%
Inflation Beginning October 6th 2020 – 10%
Max supply is capped at 10 million ACC.
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.
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.
The unused teraflops are sent to the main Dev account where they will be used for our Ethereum Casper stake.
You can track the mining progress here, and wallet address balance.
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.
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.
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.