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Registration and Activation
An overview of the registration and activation component of the CityCoins protocol.
CityCoins require the Stacks Web Wallet to interact with the smart contracts on the Stacks blockchain. (see How do I get started?)
CityCoins only exist through mining, which does not begin until 20 independent wallets signal activation after the contract is deployed.
There is no ICO, no pre-sale, and no pre-mine, and there are no CityCoins issued or distributed prior to the start of mining.
Once 20 users register to activate the contract, a 150 block (~24hr) countdown begins, after which anyone is eligible to try and mine the CityCoins within a given Stacks block.
Registration is not required once the contract is activated. After this process is complete, anyone who completes a mining or stacking transaction will automatically be registered as a user.
A nominal transaction fee is required in order to send this transaction, paid in STX, and you can optionally include a memo of up to 50 characters that will be recorded on-chain.
Last modified 1yr ago