At the Beginning

Absolute was originally launched on the 14th February 2018, which is run and administrated  by community members. Its development is serviced via Absolute (ABS) Development LTD which is based in London.

The heart of the community is currently based around our social interactions on the Absolute Website and social apps which has a large following. We reward active members with ranks and ABS based off of interactions on the website, app or network based support.

 

 

Purpose and Vision

Our vision is to provide an advertising,
promotions and event platform with smart contracts that will have a global
reach of network enablers. Our network will allow agents, organisers and promoters the
ability to reach a global audience and utilise their participation to achieve their
desired media goals.

The
network is driven by ultra-low transaction fees, reliable and fast transactions
(10x faster than Bitcoin) which are supported by a large core network of Masternodes.

Mainnet
Development

A developed Mainnet based on Bitcoin technology will be attached to the current blockchain. De-synchronous database implementation for smart contracts will be initiated via collateral agent inputs and managed under escrow from upper tier nodes.

Reward
Structure 

Proofs (PoV), Proof of Work (POW), Masternodes (MN).

 

The ABS Cycle

Absolute aims to incentivise a healthy balance of holding and liquidity. To do this we will split the reward structure as follows:

Holding Incentives

 

  • Masternodes
    Masternodes are a way of earning rewards for holding coins: collateral is locked into the network allowing stability. In return, Masternodes take it in turn to process the network, receiving a reward for doing so.

Liquidity Incentives

 

  • POW
    Hashing power from mining will supply security
    and stability to the network. In return the network will offer 10% of the block
    chain reward structure to incentivise liquidity.

 

  • PoV Network
    The Proof of View network is funded via smart contracts. Agents set contracts which are paid per interaction with the network. The interaction rewards are set by the agent.A reward is issued per successful “Proof” interaction between certain ‘actors’. The reward distribution is set based upon the type of contract that is issued. These interactions allow ABS to be distributed to multiple individuals and can in turn be sold. This generates volume, formulating a new cycle.

 

 

Absolute Specification

 

  Mainnet Proof Node
Ticker ABS
Algorithm

Lyra2REv

2Lyra2REv3 TBA

Block Time 120 Seconds
Transactions Per Second 70
Block Size 2MB
Difficulty Algorithm Dark Gravity Wave 3.0
Masternode Collateral 2500 22,500
Governance Fee 5 ABS
Governance Minimum Quorum 10% of Masternodes

 

Network Interaction

Although the PoV network is totally transparent, there is a collateral requirement that must be met to allow access to the PoV Masternode network. These nodes process the PoV transactions and administer contract escrow. They also provide agents, enablers, users and the network with rewards based on the interactions.

In return for processing a PoV interaction, the network will receive an additional reward on top of the block reward. In times of high network transactions, this will mean an increased ROI for PoV Masternodes.

The PoV network controls the escrow funds held for each contract. When a contract interaction occurs, the PoV node network commands a release escrow funds to the required actors at specific periods during the day.

All transactions on the PoV network are used to process ABS in an efficient way. This means that when there is high activity on the PoV network it will have minimum effect on standard transactions on the ABS Mainnet.

The PoV network is controlled and maintained directly by the PoV Masternodes including. There is no reward structure on this network, its primary use is to facilitate payment on the Mainnet and reward ‘actors’.

 

 

Network Terminology

The POV network is made up of a number of ‘actors’. These are people that interact with the network to successfully process a transaction.

 

  • Agent
    Agents are the contract initiators. They purchase ABS from an exchange and then issue contracts based on their needs.
  • Enablers
    Certain contracts require ‘enablers’ to create adverts and distribute media, either in a physical form or online. If they have met the requirements of the contract and a lead is generated, they will receive a reward for their interactions. These rewards depend on the type of contract they are fulfilling.
  • Users
    These are end users who communicate with the enablers or agent via the network to produce an interaction. It is possible for users to be rewarded based on their interaction with certain contracts.
  • POV Nodes
    A POV node is the core network processor. Masternodes receive rewards for processing interaction information on the network.

 

Tier network reward structure

To keep the network fair for all users, there will be equal share of the block reward based on a 1:1 ABS distribution offset against collateral. The proof node will receive rewards from the PoV network as well, which will increase the ROI over the base tier.

Base Tier Node collateral (Masternode)

 

  • 2500 ABS

Upper Tier Node collateral (Proof Nodes)

 

  • 22,500 ABS

 

Proof of View (POV)

Proof of View allows network agents to form advertising, promotion or event based contracts. Agents must have an active connection to the network either via the wallet or via a website that is connected to a POV node. This website can be set up by Masternode holders that have the highest tier nodes. Contracts can be formed based on the following areas:

 

  • (LOC) Location based contracts qualified via an Apple or Android wallet
    • These rewards are based on an agent trying to attract people to a location for a specific reason such as, but not limited to, an event, conference, party or festival.
  • (PHY/ PHY-LOC) Physical based capture contracts qualified via an Apple or Android wallet. These are split into two areas based on pre-defined interactions:
    • (PHY) Media capture via a smart phone with the wallet installed.

Before the campaign starts, adverts are catalogued and imported into the POV system, receiving an individual ID. The wallet will then match to this ID and will supply links to the advert which will generate a lead for the agent.

 

  • (PHY-LOC) Location media capture via a smart phone with the wallet installed.

These must be in a certain location to receive rewards. This is a double verification process which combines standard physical based capture (PHY) and location.

 

  • (SAW) Social media and website based lead generation contracts. These come under two different criteria:
    • (SAW-U) Unqualified Leads – these interactions are not subsidised via the collateral buffer and can only be funded via the agent’s collateral alone:
      • Website adverts and banners processed via the network when an interaction occurs.
      • Outbound media, based on click per view.
    • (SAW-Q) Qualified Leads – these interactions are subsidised via the collateral buffer and can only be funded via the agent’s collateral:
      • Lead Generation which results in a detailed form submission or website order attached to the contract ID.
    • (UES) Users can become enablers by republishing media if the contract allows it.

 

Collateral Buffer

Most contracts are subsidised by the block reward structure via the collateral buffer.

The Collateral buffer is a stabilisation fund that bridges between the block reward and the Proofs database. It provides two outputs:

 

  • A Proof of View contracts subsidy. This allows a subsidy percentage based on the level of engagement in the PoV system. High demand will reduce the subsidy to a lower percentage.
  • The second is an average output to counteract the dynamic adjustment algorithm that keeps the buffer full. This makes it fairer for Masternodes that received funds from the buffer overflow to receive a stable reward figure daily. This amount is split between the total number of nodes that have been active for more than one day and is transferred to all nodes on a daily basis.

 

 

PoV Reward

The PoV reward system is funded by agents that wish to create smart contracts. Enablers, PoV Nodes and users then receive percentages of the PoV reward structure based on the type of interaction that are occurring in the contract.

Subsidy amounts are adjusted based on loading conditions; the PoV network will always receive a base percentage per contract.

Reward scenario for PoV
There is a reward based on 10,000 ABS being spent in one day on the PoV network. This is assuming that all contracts are equal in volume (5% PoV Fee). This 5% (500 ABS) reward can be distributed to each Proof Node.

This is the total reward, which would need to be distributed equally across the tier level.

The purpose of the coin being within the a smart contract based environment means that the concept is new, exciting and allows the community to a receive a healthy reward structure based via the Proof of View network as well as the standard Mainnet.

 

 

©2020 Absolute (ABS) Development 

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