📘 Genesis Blockchain Whitepaper
📖 1. Introduction
Genesis Blockchain is a revolutionary infrastructure designed to challenge the flaws of traditional cryptocurrencies. Where other networks demand energy, Genesis rewards participation. Where others favor wealth, Genesis favors fairness.
Our mission is to establish a secure, decentralized, and inclusive economy driven by confirmation, not consumption. With a fixed supply of 21 million GNS and a transparent distribution model, Genesis provides an ecosystem for everyone — not just the powerful.
Whether you're an investor, developer, student, or curious participant, Genesis welcomes you to a future where blockchain works with you.
🔄 2. Consensus Mechanism: Proof of Confirmation
Traditional blockchains use Proof of Work (PoW), which wastes massive energy on computation. Others use Proof of Stake (PoS), which benefits those who already own the most. Genesis introduces a hybrid: Proof of Confirmation (PoC).
🔹 Every transaction creates a block
🔹 That block must be confirmed by the first N users
🔹 Confirmers earn a share of the transaction's reward pool
Let T be the transfer amount, N the number of confirming miners.
Reward per miner = (T x 0.01) / N
✅ No mining rigs.
✅ No carbon footprint.
✅ No entry barrier beyond 100 GNS.
💰 3. Tokenomics
- Total Supply: 21,000,000 GNS (immutable cap)
- Circulating Supply: Minted through transaction-based block confirmation
- Minimum Stake: 100 GNS
- Transaction Fee: 0.5% sent to a publicly viewable fee wallet
- Reward Model: 1% per transfer, shared among first N confirmers
Example: A 500 GNS transfer generates a 5 GNS reward pool. If 5 miners confirm it:
➤ Each miner receives 1 GNS.
➤ 2.5 GNS goes to the fee wallet.
➤ Net transfer = 492.5 GNS delivered to receiver.
🔐 4. Wallet System
Genesis wallets are created using industry-standard 12-word mnemonic phrases combined with a private key. Your key is yours alone. We do not store, access, or reset private keys. Full control, full responsibility.
🔑 Mnemonic login
🔒 Encrypted private key storage
👛 GNS address format begins with "GNS..." and is unique per user
⛏️ 5. Mining Process
Each time a user sends a GNS transfer, a new block is created. That block requires confirmation by users running miner clients or connected interfaces.
Hash Formula:
SHA256(PreviousHash + CreatedBy + Status + Nonce)
Once N valid confirmations are received, the block is added to the chain, balances are updated, and rewards are distributed.
🌐 6. Network Participation
Genesis is not built around centralized mining dashboards. Users confirm transactions from their own devices, wallets, or clients. The explorer and dashboard are tools — not requirements.
🔎 Explorer: View block history, miner stats, transfer trails
📊 Dashboard: Track your confirmations, rewards, and staking
🛣️ 7. Roadmap
- ✅ Q1: Genesis chain core + wallet + mining engine
- ✅ Q2: Real-time dashboard, websocket explorer, admin controls
- 🔄 Q3: Mobile wallet app, browser extension miner, node gateway
- 🔜 Q4: Staking system, exchange listings, multi-language support
⚖️ 8. Legal Disclaimer
This whitepaper is not a prospectus or financial instrument. All information is provided "as-is" with no guarantee. Genesis Blockchain is a permissionless protocol and may evolve with community consensus. Participation is at your own discretion. We are not responsible for third-party usage.