Newton Coin Project Blockchain was launched in March 2018 by good intention to fund scientific projects by partial allocation of pre-mining reserved for donations and custom percent of transferring transactions amounts could be set by the user. Later we applied governance fee on every new block as 20% of block reward.
We funded 4 scientific projects at experiment, but because of not reaching an effective price limit for support and scarcity of donations. funding was under the expectations and had a weak impact on the real projects.
Newton Blockchain was subjected to several attacks that stole nearly 50 Billion of block rewards illegally by injecting forged blocks into Newton blockchain. As a result, the network was unstable and compromised therefore we had made fixes and released v4.0.0 to stabilize the network, but the reality of financial harm and tarnishing of the project was imposing itself. The Investors declined to invest more and they lost their confidence in the possibility of recovering the losses.
We, the developers of the project, motivated by our moral intentions feel responsible and as an attempt to offset the losses and to make a fresh start. We decided to make swap to an Asset on Waves platform. The reason why we choose Waves instead of Ethereum because it has high speed transaction processing and the fact that it supports decentralized exchanges and fiat gateways with low transactions fees. We made the swap ratio 1000:1 to decrease the impact of inflation and give more value for each token which means moving forward on BTC trading pair.
NCP Project is the asset name with total supply 184.469.999 NCP. We burnt 48,000,000 NCP to recover attacks losses. Then the current total supply is 136,469,999 NCP and the circulating is 101,591,920 NCP. We faced obstacle on Waves Exchange as they choose to mark the Asset as suspicious on their Exchange interface with no real reason. The mark affects the appearance of NCP on their market although we raised many tickets to solve the issue with no valuable response. This issue is limited to Waves Exchange and has no effect on transferring and trading on other exchanges.
Newton was launched to support science and it will keep its promise so we reserved 7,000,000 NCP to be released at specific price limit to fund candidate scientific project. Maximum donation will be $ 1000 and a single project will be selected every two months.this ensures that the donation won't affect the price. Donations have no financial benefit to Investors as they expect returns on their investment although they like the idea behind Newton which motivate the community, so we introduce investment fund in order to encourage investors. Investment fund will reserve part of the remaining's outside the circulation to be release at specific price/volume and fund financing startups which can be candidate by the community with profitable returns. These returns will be collected and distributed to holders according to their investement activity. In order to accomplish this, we will integrate a distribution method in a later release of our new wallets.