No premine/IPO is good.
Uro: Backed by Millions of Tons of Urea Fertilizer
UPDATE: The Uro Protocol has been ratified by all 4 current board members of the Uro Foundation. The Instruments of Ratification have been published on the Uro Foundation website at uro.io. A zip archive of the original lossless versions of instruments of ratification have been embedded into the Bitcoin blockchain via Proof of Evidence and can be downloaded here.
a. To setup a Distributed Urea Exchange for the efficient international trade of the world’s most important fertilizer for food production: Urea (http://en.wikipedia.org/wiki/Urea)
b. To provide a medium of exchange stabilized via backing to the true and undeniable international value of Urea, the world’s most important fertilizer commodity that is responsible for 50%+ of total world food production.
The need for a Distributed Urea Exchange
The international Urea market is incredibility inefficient, with very poor liquidity and a complete lack of agreement on pricing. The wholesale price of Urea can vary be as much as 300% between different markets, nations and regions.
Now if we were talking about the trade of designer handbags, this would not be such a big problem, but no, we are talking about 50% of the world’s food production being jeopardized by 300% price fluctuations. Real farmers – especially small to medium peasant class agricultural families who do not have access to insider information and deep connections in the current closed room trading regimes and tendering processes, are suffering daily and horrifically – having to lose crops and livelihoods over the inability to access affordable fertilizer.
Food shortages are being predicted by many independent experts worldwide and the creation of a international, distributed, consistent, honest, fast and efficient Urea Exchange is what we believe to be a vital part of the solution to this crisis. If all crops in the future can be fully planted and properly fertilized, we can avoid the impeding disaster.
Milestone 1 – Achieved on 09/06/2014
The Uro Foundation has forged an agreement amongst several international Urea trading partners to back each unit of Uro with 1 metric tonne of Urea in order to certify the Uro cryptocurrency network as an officially operational exchange for Urea. The enforcement of this agreement is in the form of the Uro Protocol, which was ratified by all 4 Urea trading company board members of the Uro Foundation on 09/06/2014. The Uro Protocol and the accompanying instruments of ratification can be found on the official Uro Foundation website.
Milestone 2 (within 6 months after launch)
We have already started development of stage 2 marketing materials and general public facing instruction web sites on how to trade Urea via Uro using the wallet for beginners including farmers. We will raise funds to provide secure trading PCs to farming communities that will both introduce them to internet access as well as Uro trading. Finally these trading PCs will run an improved client we are developing based on the compact Electrum UI that will have integrated blockchain based mail, Two-factor (BIP38) Escrow as well as a distributed and digitally signed Green Address Book so that farmers can securely communicate with and transact Urea via Uro with sellers and traders worldwide.
Milestone 3 (within 9 months after launch)
By now we would have achieved a fully functional Urea exchange. we will then move to establish a Urea Supply Association with board positions from both the cryptocurrency, farming and Urea supply chain community to oversee the long term growth and maintenance of the Uro network.
Milestone 4 (within 12 months after launch)
The Urea Supply Association will start implementing its first important initiative: set up regional Urea collection points for farmers to exchange there Uro for Urea.
Algorithm: X11 PoW
Follow us on Twitter @UroFoundation
Like us on Facebook at: facebook.com/urofoundation
Freenode IRC: #URO
Our subreddit: http://reddit.com/r/Uro
Block Explorer: http://cryptexplorer.com/chain/Uro
Market Cap Chart: http://www.cryptocoinrank.com/Urocoin
Network Hashrate Chart: http://bitinfocharts.com/comparison/hashrate-uro.html
Uro in the Press
Windows, Mac OS X and Linux (source code): https://github.com/uro-/uro/releases
Linux build instructions (These commands set the correct permissions for a clean build):
chmod 775 * -R
make -f makefile.unix USE_UPNP=1
We do not believe mining pools are an optimum part of the solution because they centralize and commercialize the supposedly distributed mining process – creating the potential for both stability and fraud problems. We are showing everybody how to configure several GPU and CPU instances to point to a single wallet on your LAN to create your own scalable miners. This style of mining forces users to run the full node wallet which increases both the availability and performance the transaction broadcast system, the most important part of a payment network. For those that cannot run the full node wallet – we has listed some tested pools at the bottom of this post.
Due to Uro’s short but safe 3 minute block time everyone will have a good chance of finding a block within a 30 day period without the high orphan rate experienced by many altcoins with shorter block times.
Direct links to mining apps and config file contents have been posted below so everyone can join in the way it was and is supposed to be – running full nodes instead of just jumping on the largest mining pool, crashing the servers and causing the network to grind to a halt because nobody else is running a full node. This is also a fun and practical way of learning the basics of the wallet’s intended operation as a full node, the wallet daemon’s RPC communication mechanism and the interaction of the mining program with the daemon.
Windows Mining Instructions
1. Open the wallet and allow full communication with private and public networks when asked by the Windows Firewall. Let the wallet initialize the blockchain database.
2. If possible, please check that UPnP is enabled in your router and in the wallet – this will help strengthen the network by providing more full node P2P connection paths with other users:
3. Temporarily close the wallet by going to File > Exit.
4. Open Windows Explorer (My Computer) and navigate to %appdata%\Uro. Create a new text file called uro.conf file here:
5. Generate 2 random codes using the random.org password generator , we will use one of these codes for username and the other for the password.
6. Open the uro.conf file with Notepad and change the ‘user=’ and ‘pass=’ to the generated values. Also set ‘rpcallowip=’ to your LAN ip range (e.g. if your LAN has IP addresses like 192.168.1.xxx, use ‘rpcallowip=192.168.1.*’):
7. Open the wallet again. We recommend turning on the options “Start Uro on system login”, “Minimise to the tray instead of the taskbar”, and “Minimise on close”.
9. Create a ‘run-sgminer.bat’, ‘run-ccminer.bat’ or ‘run-minerd.bat’ batch file as shown in the below examples to invoke the miner app. Use the IP address of the PC running the wallet in place of “127.0.0.1” if running multiple miners in your LAN. Run the batch file to start mining.
sgminer -k x11mod -o http://127.0.0.1:36348 -u user -p pass -I 15 -g 2 –thread-concurrency 8192 -w 128
ccminer50.exe -o http://127.0.0.1:36348 -u user -p pass
ccminer35.exe -o http://127.0.0.1:36348 -u user -p pass
ccminer30.exe -o http://127.0.0.1:36348 -u user -p pass
minerd.exe -a X11 -o http://192.168.1.253:36348 -u user -p pass -t 2
10. If you still want to use a pool, please either use a trusted P2Pool node or a standard pool with less then 30% or the network hashrate (jumping on a pool with more then 30% of the hashrate places unnecessary strain on the pool server, increases the rejection ratio, and can result in blockchain forks, more orphans and potential lost of mined funds)
Still download and run the wallet to help strengthen the network even if you are using a mining pool.
Tested and verified P2Pool nodes (no registration required + instant per block payouts):
stratum+tcp://uro.altmine.net:35347 -u URO_WALLET_ADDR -p x
stratum+tcp://p2poolcoin.com:35347 -u URO_WALLET_ADDR -p x
stratum+tcp://ca.p2poolcoin.com:35347 -u URO_WALLET_ADDR -p x
Tested and verified standard mining pools (registration required + mature payouts):
Finally please understand that over a period of 1 month, your earnings are the same no matter if you are solo or pool mining. A pool only reduces short term variance
Uro: Long Term Currency Backed by Millions of Tonnes of Urea Fertilizer