- From whitepaper: “In Karbo project we set a goal of creating such decentralised, community oriented medium of
exchange, a stable cryptocurrency with low price volatility by introducing new to crypto world
technics of regulating coin supply to stabilize its market price and exchange rate.”
- Seeks to bring stability by implementing a variable supply mechanism as defined in Vitalik’s stablecoin article: https://blog.ethereum.org/2014/11/11/search-stable-cryptocurrency/
See the section “Endogenous Solution”
- Team is Ukrainian, kind of like the e-akce project of Turkey
- Monero is also based on cryptonote. Since Monero’s inception, a guy called Zawy came up with a better difficulty algorithm: https://github.com/zawy12/difficulty-algorithms/issues/3
There are a bunch of projects that just fork old ones and apply the new algorithm, and call themselves original projects.
Karbo is not one of them since it is also trying to implement a variable supply mechanism.
- Team members do not show themselves on the Karbo webpage. They don’t seem very keen on marketing.
They say they won’t do an ICO and there is no premine/instamine. Karbo development is supported by donations.
Talked with admins on telegram, they told me “there is no ICO, fuck off”, when I tried to ask their background.
Code development seems slow. Devs don’t seem very ambitious.
Whitepaper seemed promising, but lack of activity dissuaded me from further research. I would be surprised if they made it to top 200.