Virgo Is Officially Announced!
The crypto market is too complicated. Hundreds of projects taking advantage of this technology suffer from a significant lack of visibility due to this complexity. Newbies are lost between many different technologies and teams, causing them to miss out on breakthrough applications. Developers who have ever brighter ideas are therefore limited about the publication of their applications.
Where to publish them to get the most visibility? How to facilitate the user’s journey to applications?
To solve the issues mentioned above, Virgo wants to create the first decentralized application development and distribution platform, which will allow developers to quickly build and publish their applications, providing them an inclusive ecosystem and ample visibility among users already introduced to the technology.
This platform called VirgoStore will allow people to discover and use these applications quickly.
To make these applications even easier to use, we implement a high-performance cryptocurrency that can be used at scale. Thus, users will not need countless different currencies to be able to use these applications. Developers will take advantage of a fluid currency with a large user base to power their technologies.
In essence, VirgoStore will be a module present on our Wallet. It will allow users to consult a list of complementary applications to the Wallet, then download and install them in one click.
The store will use imported lists of apps to display available applications, which can be automatically updated. There will be a base list to find services developed by Virgo and other ones offered by third-party developers. For developers’ applications to be present there, they will need to meet well-defined criteria and “certify” them.
However, to keep the process as decentralized as possible, users will be able to import lists created by third-party entities. Virgo cannot control these lists and therefore require greater vigilance from users, but on the other hand, it will offer them more possibilities. So unlike the AppStore or the PlayStore, we do not have complete control over the app publishing process, thus giving developers a great power of creativity.
Applications, as well as lists will be distributed via a decentralized file system. Thus, compared to these classic counterparts, on VirgoStore applications will not depend on editors. No downtime, no censorship; anyone will be able to create and publish their app without anyone’s approval.
Users will enjoy increased anonymity and security. They will be able to use our services endlessly and without fear of their data being sold or shared. The result is a platform that is easy to use and where developers don’t have to worry about pleasing any publisher and can therefore focus on the user experience.
Therefore, this new ecosystem will attract more and more new users, the different applications benefiting from each other.
For all these applications to operate smoothly and at a lower cost, a high-performance cryptocurrency that can handle the ecosystem’s financial flows is needed. As our project is essentially decentralized, so must be this currency.
So we created VirgoLedger, our own distributed ledger technology. It uses a DAG (Directed Acyclic Graph) to date and orders the transactions for its data structure and proof of work. It combines DAG and “classic blockchain” Virgo brings together the best of both worlds to provide a consensus method that is both scalable, secure, and decentralized.
In addition, our technology will eventually be compatible with the EVM (Ethereum Virtual Machine). It will therefore offer the possibility of creating and executing smart contracts intensively and at a lower cost.
As VirgoLedger works with proof of work, it will be minable. We use randomX for our proof of work algorithm. Initially developed for Monero, it is one of the first fully ASIC-resistant algorithms, which further accentuates Virgo’s decentralization.
Therefore, the only efficient hardware for mining is general processors, which are available to the public and present in any personal computer. This will make Virgo mining accessible to a large number of people without significant upfront investment. The delay between each block is 30 seconds, and the reward for each will be 2 VGO. This will translate into a generation of 2,102,400 units per year.
To learn more about the technology, read our whitepaper:
https://virgo.net/wp-content/uploads/2021/06/whitepaper-v0.5-English.pdf
The Virgo network has a base currency, which will be used as a means of transferring value within the platform. This currency is titled Vigocoin (VGO).
To support the project’s development, 30,032,000 VGOs will be pre-mined and distributed as follows:
- 15% will be reserved for the team
- 10% will be distributed through Marketing campaigns
- 75% will remain in reserve to be either sold during an ICO or burnt if necessary. This 60% will not be ably claimable by the team.
To distribute the 10% of Virgocoin devoted to our marketing campaign, we will set up a Reward Center on our website. As soon as you register for it, a list of objectives will be offered to you. These objectives are free and easy to achieve (Subscription to our networks, Retweet, Sharing, contests, etc.). At each goal validation, you will receive a predefined amount of VGO. The more an objective will be involved to the user, the higher the reward will be. To renew the objectives, we will publish more according to our news. You can also invite your friends via a referral system to earn more VGOs.
