INFINITY ECONOMICS BLOCKCHAIN A MEANS TO ENDING CRONY CAPITALISM

Infinity Economics (IE) blockchain features and base philosophy provide a break to
crony capitalism. How can this be accomplished? By staying truly decentralized
and anonymous by default.
Crony capitalism is an economy in which businesses thrive through a return on money
amassed through relationships between businesses and politicians. Government
intervention eliminates genuine competition through permits, grants, special tax breaks,
or other means for mutual benefit.
Cryptocurrencies utilize blockchains – a distributed database that creates a digital ledger
of transactions. The ledger is shared among a vast network of computers while advanced
cryptography keeps it secure, private, and decentralized allowing each participant to
interact with the ledger in a secure way without the need for a central authority. A
growing list of records (blocks) are maintained, time stamped and are a link to the
previous block.
IE blockchain is a decentralized crypto ledger platform. It has merged several integration
changes, client side features and middleware system arrangements to form the basis for
software solutions applicable for financial markets today and into the future. Dapps
(Decentralized applications) can be built without learning a new programming language
to encourage further development and creation of features to continually enhance the IE
blockchain. Transactions are stored in a system that cannot be diluted by politics,
over-supply or altered in any way by third parties. Code and algorithms keep everything
in check. Its ideology is a belief in a flexible decentralized, value exchange system in
which everyone can gain access to the cryptocurrency market.
IE is a 100 percent proof-of-stake (PoS) built from proven open source projects written in
Java. Unlike other digital currencies, its PoS algorithm does not depend on an
implementation of the “coin age” concept that is used by others which makes it resistant
to “nothing at stake” attack/hacks.
Nine billion available tokens (XINs) were distributed in the genesis block. Balance of
security and the required processing power is created through Curve25519 cryptography
with the more commonly used SHA256 hashing algorithms. Since a full token supply
already exists, IE is redistributed through the inclusion of transaction fees awarded to an
account when it successfully creates a block. This process is known as “forging”. New
tokens are not generated as a result of block creation. Redistribution of IE takes place as
a result of generators receiving transaction fees. So the term, “forging” defined here to
create a relationship or new conditions is used rather than “mining.”
Blocks are generated every 60 seconds by unlocked accounts on network nodes. A
transaction is considered safe after 10 block confirmations. Subsequent blocks are
created based on verifiable, unique, and almost unpredictable information from the
preceding block. They are linked by virtue of these connections building the chain of
blocks and can be traced to the genesis block.
IE’s decentralized blockchains provide the means for the expansion of applications and
services, but is not authoritative about what the services should be or how they should be
built. All new technologies are welcome in this digital economy.
Most IE services are based on enhanced core implementation of proxies and gateways
while facilitating relevant community services like encrypted messaging/chat or external
news services. Other features include: An Alias system, a built-in decentralized Asset
Exchange for market and ideological trades, Escrow service, Subscriptions, Shuffling,
Automated Transactions, Account Control, Extensions, and a Voting system that
guarantees anonymity and security without being tallied by a central organization.
IE is devised to operate as a 100 percent community driven project (E-Governance).
Decisions on all platform related matters are in the hands of all community members
based on their voting power.
IE technology and outlook lies in its decentralized and global peer-to-peer nature. It is not
associated with nations, fiat currencies or financial institutions based on the old
established financial marketplace becoming antiquated in today’s global economy. It is
paving the way to put an end to crony capitalism with a leading-edge blockchain that
levels the field for the world populace.
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