• Egger Mielberg

Sphere: A Decentralized Economy-Based Electronic Currency

Updated: Nov 28, 2018

A decentralization of electronic currency would allow business activity and development of a single network to be independent of other different business networks. Cost of a decentralized currency of the network can become stable as long as participants of that network are still active.

We propose a solution for such a big problem of traditional economy as a “direct dependency of local prices on global ones”.

We also propose an innovative mechanism that allows participants of NCN to get any service of one business network for money (hours) earned in other network (‘s).

The currency is implemented by usage of two innovative technologies, “Proof of Participation protocol” (PoP) [3] and “Smart Transactions” [2].

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