Karma – The First Decentralized Smart Community Network in the World
Karma International has been and will dependably be centered around offering some incentive back to the group, towards those associations most in require. It has added to many philanthropic endeavors throughout the years and is specifically associated with magnanimous and group endeavors. Karma, proceeds and greatly scales this vision, speaking to the appropriated, blockchain innovation based, tokenized, secured and adaptable reconsidering of the first KML – made accessible to any enrollment based association.
What is Karma ??
Karma is the first platform in the world to take advantage of decentralized blockchain technology to empower members of either community or an organization. Karma was founded in 2005 with an original mission to connect outstanding and inspirational individuals both socially and professionally through a variety of high experimental events, even with business networking and social gatherings. With the aim of providing Karma International Token (KIT) karma and Karma protocols to empower membership-based societies. All funding for karma is aimed at supporting the growth of communities and even organizations that aim to serve the interests of society. So Karma’s new mission is to provide the Karma Protocol and Karma Internationalisation Token (KIT) to empower membership-based societies around the world, including:
- Physical membership organizations (such as country or golf clubs)
- Virtual membership organizations (such as university alumni branches)
- Non-profit organizations that do not have operational backbone (CRM, ERP, Analytics, etc.)
Even Karma has produced several thousand events that have received recognition and international presence by some of the most influential people in the world.
The Marketplace, with its selection of Custom Modules, will be one of the most effective methods to increase the value added to Karma by Community Developers. Instances of these Custom Modules will be fully capable of consuming KIT based on their own unique requirements, individually maintaining metrics on a per Module instance basis. Karma will allow all Community Developers to create highly specific, self-contained processing Modules. These can take one or multiple roles for the benefit of all of our Communities, across very diverse industries.
By using Ethereum as the abstract foundational layer, Karma is able to implement all the features and rules of the KIT Protocol directly into smart contracts, which are deployed and processed by the entire network. By using the entire Ethereum infrastructure with the purpose of validating transactions and adding new blocks to the blockchain, Karma minimizes any possible attack on the protocol. On top of Ethereum, Karma has built the services using Geth. Geth is a multipurpose command line tool that runs a full Ethereum node implemented in Go. In this case, it is running on a proprietary Linux server with no RPC/HTTP open ports. The communication, which involves the Geth, is managed through the Python intermediary application and the Ethereum network.
By using Blockchain Karma technology using Etherum as the main layer so that karma is able to apply all the features and rules of the KIT protocol to make a smart contract which is where it is deployed and can be processed by the whole network. By using all of the Ethereal infrastructures with a view to validating transactions and adding new blocks to the blockchain, so as to minimize the possibility of attacks on protocols. Etheral linked apps built on ruffles with the purpose of building intelligent contract compilations, connecting, deploying and binary management with Configured pipeline builders that support custom build processes with goals Network management can be deployed across multiple public and private networks.
Spinning up a new Community Network is a considerable challenge. Organizations across the world seeking to do so face numerous difficulties selecting the right technologies and solutions, and after that selecting the right development partners in order to implement those choices. Even if these initial selections are appropriate, actually implementing, operating and maintaining the resulting Community Network can be fraught with complications. Established organizations, with their Legacy Community Networks (i.e., networks and systems based on older, non-blockchain technologies), face similar and additional difficult challenges. These organizations’ Legacy Community Networks are often a diverse mix of incompatible technologies (different vendors, versions, protocols, ages, interfaces, etc.). Grafting on newer components, even if those components, considered in isolation, are the right choice, can be combinatorially difficult. Bottom line – as growing organizations scale their operations, their Legacy Community Networks simply cannot keep up.
KIT is a fundamental component of Karma. There are three main ways in which KIT will be used:
Tokenizing the Sharing Economy (Karma Exchange). Sharing goods between community members becomes easy as KIT can be used for directly lending assets between Karma users and customers, thus creating a sharing economy model. These offerings will be adapted to the specific requirements of each party.
Reaching Consensus. In order to have a simple and fast consensus reaching mechanisms, each organization that uses the KIT protocol will effectively become a DAO (Distributed Autonomous Organization). Using KIT DAO tokens, proposals will be created for the different situations which require voting, using the DAO’s submission guidelines. The proposal is then announced to other KIT holders for discussion and voting. KIT holders can also choose to amend the proposal’s terms.
Token Generation Event (TGE) Structure
Karma uses blockchain technology that generates custom ERC223 tokens (successors of the standard ERC20 tokens) with eighteen digits after the decimal point and ticker symbol KIT. Targeting token supply of 1,000,000,000 KIT where 1 KIT = $ 0.0706 with a token sales target of $ 25,000,000
Bonus Token Generation Event (TGE)
Bonus is given by TGE time
Pre TGE ⇒ 50%
Day 1 ⇒ 25%
Day 2 ⇒ 22%
Day 3 ⇒ 20%
Day 4 ⇒ 17%
Day 5 ⇒ 15%
Day 6 ⇒ 10%
Day 7 ⇒ 8%
Day 8 ⇒ 5%
Day 9 ⇒ 3%
Day to 10⇒ 0%
To know the latest information about Karma project you can visit the link below:
Website : https://tge.karmainternational.com/
Whitepaper : https://tge.karmainternational.com/documents/karma-whitepaper.pdf
Ann Thread : https://bitcointalk.org/index.php?topic=2270955
ETH : 0xF4919c366c3ad386f0A5Abe322d6cDe0238CeB28