Make something to sell for Bolt. Receive grants in Bolt to purchase goods and services from Miners.
Mine Bolt by providing goods and services to Producers. Pick which projects to support.
Purchase products from Producers with Bolt. Products produced with grants are only available for sale in Bolt.
Producers, miners, and consumers form the ultimate basis of Bolt's economic activity. Producers, miners, and consumers each decide which projects they want to work on and which to support. These community members can also change the wider network by pressuring DFOs and Masternode operators.
Bolt DFOs (DAO Funded Organizations) receive grants from the Bolt DAO or other community organizations. In turn they provide essential services to the Bolt ecosystem. These services include grants to producers, developing new technologies, and growing Bolt's community. Anyone can form a Bolt DFO through public announcement and a funding proposal.
The Bolt DAO (Democratic Autonomous Organization) is a network of masternodes owned by private individuals. Masternodes earn Bolt in exchange for securing the network. Masternodes donate half of their earned Bolt to the DAO. The network votes on which DFO proposals to fund.
Key Community Members
Alexander Rafalovich Sr
Received his Masters from MIT in civil and environmental engineering. International engineer previously focused on the Middle East. Early investor in bitcoin.
Alexander Rafalovich Jr
Graduate student in Art and Technology at CalArts. Built various private tools for trading cryptocurrencies. Artist entrepreneur experienced with the struggles of producers.
MFA Art & Tech candidate at CalArts. Indie game developer and statistician. Early bitcoin enthusiast bridging the gap between art and cryptocurrency.
Masters student at University of Chicago in political science and philosophy. Early investor in The DAO and other Ether startups. Wrote for online publications on Ethereum and DApps. Adviser for DApp for investors.
Received Masters from Carnegie Mellon and Bachelors from RISD. Worked at the Disney Research lab as Senior Creative Technologist. Specializes in C/C++ software and interactive experiences.
PhD candidate at Caltech. Discovered gravitational waves with her team. Currently using scientific computation to improve data pipeline for gravitational wave detectors.
PhD candidate at Stanford University. Lead developer Researching applications of continuum mechanics and computational methods to study granular materials.
MFA candidate of Art and Technology at CalArts and received BFA from Ewha Womans University. Worked as a graphic and brand designer at KBS and CJ E&M as well as a content startup.
The implementation of the block-lattice, open source technology developed by Nano, is complete. Bolt is now fully functional as a currency for producers. With zero transaction fees and huge scalability, Bolt is ready for the global economy. 98,000,000 exact units of Bolt are issued; no more Bolt can be issued until masternodes are implemented.
Publish Diamond Lattice Research
The Diamond Lattice is a research project released to the community for comment that suggests a method to combine RingCT 2.0 with the block-lattice. Rather than keeping this research exclusively for Bolt, the technology is made available for anyone to implement. Future development of this technology is the responsibility of Bolt Labs DFO led by John Mars.
In addition to providing opportunities to early adopters, this period is about building up the core number of users needed to make Bolt’s mining process viable. It also functions as an opportunity for new community members to place their visions into Bolt.
Artist Grants Applications: Austin, TX
The first group of artists begin applying for grants in Austin, Texas. Unfortunately, most US state's laws are not ready for grant based cryptocurrencies. The largest state that has reformed its legal environment is Texas. Austin has a large art and technology community.
Bolt Internet Parties
Bolt Internet Parties are a place for artists receiving grants from Bolt to showcase their work to the community in a fun and light atmosphere. Internet Parties occur regularly and involve livestreaming on Twitch.
Bolt Markets Open
First marketplaces are set up by the community for trading goods and services for Bolt. These allow members of the community to mine Bolt by providing producers with the inputs they need while creating a ready market for producers to sell their products for Bolt.
The Mobile wallet is released, allowing the easy exchange of Bolt using QR codes and saved addresses. Developing the mobile wallet is the responsibility of Bolt Labs DFO.
First Artist Grants Released
The first set of artist grants are released to the artists selected in 2018. These grants allow artists to buy goods and services they need to produce their artwork from Bolt Markets or other sources that accept Bolt. With the release of the grants, miners are able to earn Bolt by providing artists with the goods and services they need. By using a highly selective process to choose artists, the artworks produced are more valuable than the inputs. As the products are only available for sale in Bolt, the result is a healthy proucer's economy.
Awareness Campaigns Begin
Promotions of Bolt internet parties, productions by Bolt funded artists, and the products available for sale on Bolt Markets begin. Campaigns involve advertisements on multiple online platforms both mainstream and obscure. Note that Facebook does not allow cryptocurrency advertisements, but does allow advertisements of grants, events, and marketplaces. Videos are produced monthly promoting various aspects of Bolt and highlighting events occurring in the Bolt community.
Diamond Lattice Complete
Implementation of the Diamond Lattice creates the masternode staking system and adds privacy features to Bolt. While not critical to the Bolt’s ecosystem, it does enhance the platform, protecting the identity of Bolt’s users. Implementation of the Diamond Lattice is the responsibility of Bolt Labs DFO.
Artist Grant Applications: Additional States
Depending on the legal environment, new artist grant offices will be set up in different states and localities. Lessons learned in Austin will be applied to these new sites. The main requirement for allowing artist grants in a state is a legal environment that does not classify cryptocurrency artist grants as money transmission.
GUI for DAO Proposals
Bolt Labs DFO develops a GUI for displaying, posting, voting, and viewing DAO proposals. The GUI will be very similar to the one used by Dash. The GUI allows the opening up the proposal system to more users. It also functions as an ease of access tool for masternode operators.
Producer Grant Growth
In 2020 the community adds additional types of producers to the Bolt grant system aside from the original artist grants. New DFOs are set up by the community, modeled after the successful principles learned from the artist grants. Masternodes vote on which DFOs to fund.
DFO Auditing GUI
The DFO Auditing GUI allows masternode operators to quickly see where funds granter to DFOs are actually flowing and how well DFOs are meeting their objectives. The auditing tools, open source and developed by Bolt Labs DFO, help masternode operators keep DFOs accountable.
Expanding into US states that have not updated their money transmission laws with respect to grant based cryptocurrencies requires licensing and legal processes. Bolt Payment Processing, a for profit firm, will perform a similar function for merchants and grant organizations that traditional payment processors provide for merchants. Getting licenses in all 50 states may take more than 3 years, depending on how the legal environment changes.
Grants to New Producers
The community continues to add new DFOs that service different types of producers. Lessons learned from other DFOs are applied to these new organizations. As the number and types of producers expand, more goods and services are available on the Bolt marketplace. The result is a healthy and ever-expanding ecosystem.
New Advances in Blockchain Technology
The Bolt Labs DFO continues to fund research in blockchain technologies that could enhance Bolt for its target audience, producers. As Bolt Labs DFO and other organizations discover new techniques, Bolt Labs continues to implement them into Bolt. In addition to improving the core features of privacy, speed, and scalability, Bolt Labs DFO looks into other ways to use Bolt’s global ledger for producers, such as supply chain management, tracking products, and any other features the community requests.