KTH: the Official Token of the Knuth Development Team

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kth

High-performance node

3 years ago

Abstract

KTH is the official SEP20 token of the Knuth development team.

The Knuth team offers a Bitcoin Cash node and development platform with a special focus on high performance.

SEP20 stands for "SmartBCH Expansion Proposal number 20". It is the SmartBCH equivalent to an ERC20 on Ethereum, or a BEP20 on Binance Smart Chain.

SmartBCH is an EVM (Ethereum Virtual Machine) and Web3 compatible sidechain of Bitcoin Cash with a special focus on high throughput and low transaction fees.

Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as "Peer-to-Peer Electronic Cash".

SmartBCH is to Ethereum what Bitcoin Cash is to Bitcoin BTC: A blockchain with better capabilities that is also more affordable. Bitcoin Cash brings affordable, secure, uncensorable, borderless, worldwide payments to the world - and SmartBCH does the same for decentralized finance (DeFi).

SmartBCH supports Bitcoin Cash to achieve its mission by attracting more attention and funds to the Bitcoin Cash ecosystem.

The KTH token opens a new way for the Bitcoin Cash community to support its developers - therefore helping Bitcoin Cash to achieve its mission.

In addition to showing their support, KTH holders can earn passive income by providing liquidity on decentralized exchanges - and they will benefit from premium privileges such as access to future airdrops, liquidity provider rewards and voting rights with regard to tokenomics.

KTH Token Specifications

Contract Address: 0xc70c7718c7f1ccd906534c2c4a76914173ec2c44
Type: SEP20
Token Decimals: 18
Total Supply on Chain: 10,000,000,000
Additional token mints possible: No
Token burning: Yes - specifics will be voted upon by KTH holders

KTH Tokenomics

50% of the supply will be distributed to the liquidity providers. Each liquidity provider receives a share of the weekly distribution - which is proportional to his or her share in the liquidity pool.
25% of the supply is destined to be distributed via airdrops, contests or donations. A fraction of these 25% can be permanently removed from the supply via coin burning.
The remaining 25% of the supply will be used by the Knuth project to contribute to its evolution.

KTH Mission and Goals

The KTH token's mission can be stated in one line:

KTH aims at helping Bitcoin Cash to achieve its mission.

The best way to unpack and explore this mission statement is by starting with the mission of Bitcoin Cash.

Bitcoin Cash Mission

The mission of Bitcoin Cash is to become the world's preferred currency - a borderless, immutable, uncensorable, fast, quick, affordable and reliable payment method which can be used for worldwide everyday commerce by every human and every machine. The mission is to be a true peer-to-peer electronic cash system which makes financial services accessible to everybody - also to those who haven't had them. Bitcoin Cash wants to bank the unbanked - all the while removing the need for middlemen. Bitcoin Cash wants to give the people the power over their own money.

The Keys to Achieving the Mission: Community, Adoption and Technology

In order to enable Bitcoin Cash to achieve its ambitious mission, several parts need to symbiotically work together. These are technology, community and adoption - and their cooperation makes the whole more than just the sum of its parts.

Every crypto currency needs good technology. In the case of Bitcoin Cash reliability, high performance and scalability are of the utmost importance for achieving the goal of becoming the world's preferred currency.

In case of Bitcoin Cash the technology is developed by multiple development teams - such as the Knuth team. It is the technology that enables the community to further the adoption of the crypto currency. Without the developers, there is no technology. And without technology, there is no crypto currency. And of course, technology needs adoption. Without adoption even the best technology is useless. It needs users. And these users need to be onboarded by the community. Only when good technology meets adoption, the technology serves its purpose. It is a virtuous circle - or a symbiotic relationship.

Furthermore, the developers depend on the support from the community. This support has historically been given in the form of donations.

The Role of the KTH Token

The KTH token opens up a novel way for the community to support its developers: Instead of - or in addition to - sending donations, the community can purchase the KTH token. By holding - or using this token as a tipping token, the community members demonstrate their support of Bitcoin Cash and its developers. The KTH token shows the holders' support of the Bitcoin Cash development in general - and of the Knuth development team in particular.

KTH holders with a substantial position will benefit from a membership in a premium Telegram group where they have direct access to the Knuth development team and they can exercise their voting rights. They will be allowed to decide on several aspects of the KTH token - one of which being a token burn rate.

In addition to the described use cases, farming rewards will be available to KTH liquidity providers or holders. This means that the token holders can support the Bitcoin Cash development - and earn passive income at the same time.

If the amount of financial support from the KTH token allows for it, the Knuth developers are happy to support other projects in the BCH ecosystem financially.

The Role of SmartBCH for the Success of Bitcoin Cash

SmartBCH is an EVM compatible and Web3 capable sidechain of Bitcoin Cash. It ports the philosophy and design decisions behind Bitcoin Cash over to the world of decentralized finance (DeFi). Its goal is to provide affordable, reliable and fast DeFi transactions for everyone - not just the wealthy. So far, the existing DeFi platforms have either excluded less wealthy people from participating - due to high transaction costs - or they have sacrificed decentralization and therefore resilience and censorship resistance for lower fees. SmartBCH combines the advantages of both approaches - and eliminates their respective disadvantages - by taking advantage of the inherent parallelism of current computer architectures and by leveraging the decentralized Bitcoin Cash proof of work network for electing SmartBCH validators. In this way SmartBCH benefits from a proof of work consensus mechanism without incurring any extra

mining overhead and energy consumption. SmartBCH is simultaneously secured by proof of work and as energy efficient as a proof of stake blockchain.

In addition to providing affordable decentralized finance to the world, SmartBCH will also help the Bitcoin Cash network by providing extra income to miners - which increases the hash rate stability and therefore reduces the risk of attacks on the network. Furthermore, SmartBCH introduces a deflationary mechanism to the Bitcoin Cash network with "fee burning": 50% of the transaction fees on SmartBCH are burnt - both on the SmartBCH sidechain and on the Bitcoin Cash main chain. In addition to fee burning, the Bitcoin Cash coins which are bridged to SmartBCH are locked on the main chain and therefore, they further reduce the supply. These mechanisms will help Bitcoin Cash's price to appreciate. And this in turn means free publicity - which helps with onboarding new users, ultimately pathing the way to the main goal of becoming the world's preferred currency - and replacing fiat currencies and middlemen - such as banks and centralized exchanges.

The Knuth Development Team

Knuth is one of multiple Bitcoin Cash full node implementations. The team's focus lies on creating a high performance implementation of the Bitcoin protocol. The software is especially suited for users requiring extra capacity and resilience. It is a full node software client, but also a development platform. It is designed for:

Miners and mining pools running competitive operations.
Exchanges in need of dependable full indexation.
Companies and businesses with the intention of building applications.
Developers who want to take their projects to new levels.
Newcomers taking their first steps in the blockchain ecosystem.

In Bitcoin Cash not only the network is decentralized. The development is also decentralized - a fact that the Bitcoin Cash community takes pride in.

Knuth is not just one more full node implementation for the sake of decentralisation. Knuth was in fact one of the first Bitcoin Cash implementations. The Knuth team played a crucial role in starting the Bitcoin Cash hardfork - when it became evident that the Bitcoin BTC part of the Bitcoin community decided against further pursuing the goal of developing Bitcoin as the peer-to-peer electronic cash which it was created to be.

By buying, holding, using and providing liquidity for this token, the token holders express their appreciation for Bitcoin Cash development in general - and for the Knuth project in particular. The Knuth team helped to make Bitcoin Cash what it is today. And it is the community's support which enables the developers to help to keep it going.

What Your Support Helps to Develop

The Knuth project members do not only work in their own project, they also help other Bitcoin Cash related projects - such as Bitcoin Cash Node and SmartBCH. Detailed information about collaborations can be found in their blog at https://read.cash/@kth.

To exemplarily mention one such collaboration: The Knuth developers - in particular Fernando Pelliccioni in collaboration with Calin Culianu from the Bitcoin Cash Node team - are currently working on the next killer features of Bitcoin Cash:

Native Introspection opcodes and
64-bit Script integers.

These features are crucial for the bridge between Bitcoin Cash and its SmartBCH sidechain - as confirmed by Kui Wang - the lead developer of SmartBCH. The features are planned to be included in the May 2022 Bitcoin Cash network upgrade.

Summary

The following quote by Fernando Pelliccioni - the lead developer of the Knuth project - summarises the idea behind the KTH token and its mission:

We believe that BCH is the true p2p electronic cash.

I think SmartBCH is going to give BCH a big boost - that's why we are working to make all this work better and better.

We also believe (some of the BCH supporters) that the launch of these tokens will help attract capital from other Blockchains such as ETH and BSC.

Let's see.

Bitcoin Cash has an ambitious mission. However, it also has the support of the best community in crypto. And the community is a very important part of any crypto currency. It lives and thrives in symbiosis with the technology that the developers provide.

The Bitcoin Cash community is not exclusively driven by the desire to profit. Many BCH supporters are mostly driven by the desire to make this world a better place and to improve the lives of all people. SmartBCH is the next step in achieving this mission. And tokens such as KTH allow the community to directly support its developers. Supporting Bitcoin Cash has always been the right choice from a moral perspective. SmartBCH will help making it the right choice from a financial perspective as well. Not just the right decision for the individual - but for the whole world.