Crypton (CRP) is the monetary unit and digital currency of the Utopia P2P ecosystem. It is a decentralized cryptocurrency where transactions are instant, irreversible and completely untraceable. When Cryptons are sent, the Peer-to-Peer network of Utopia confirms the transaction immediately, without delay. There is no centralized, or decentralized, authority capable of reversing a transaction on the Utopia network. uWallet balances of Cryptons cannot be seized or even identified by any authority. Crypton transactions are completely anonymous and cannot be tracked on the blockchain. Only the sender and receiver have any record of a transaction. Newly mined Cryptons are distributed every 15min block to nodes helping to maintain the network which meet the minimum requirements.
2. What is Utopia?
Utopia is a revolutionary ecosystem designed to protect the privacy of interactions and to preserve the security and confidentiality of each participant's personal data. The network went live on November 18, 2019 and is supported by the people who use it, based on Peer-to-Peer (P2P) technology. With no central server involved in data transmission or storage, it has no single point of failure and is truly decentralized. Each node, including your Utopia client, transmits network data using secure Curve25519 high-speed elliptic curve cryptography. The data transmitted cannot be intercepted by any third-party, only the recipient is able read it.
All personal account data is stored on a Utopia user's local device in an encrypted file using 256-bit AES encryption. Utopia enables users to bypass online censorship and firewalls, allowing them to freely communicate and interact with whomever they want, whenever they want. Users can privately send instant text and voice messages, transfer files, play games and create censorship-resistant group chats, channels and websites, as well as make and accept payments denominated in Utopia's fully integrated digital currency, Crypton.
3. Circulating Supply Estimate
The circulating supply of Crypton (CRP) is theoretically calculated by taking the total number of mined CRP, subtracting all burned CRP from the ecosystem and then adding the CRP created from staking rewards on a monthly basis.
Crypton is burned in 3 ways:
Burn U: uNS records (registration, modification, deletion, transfer)
Burn T: Transaction and Transfer fees (including uVouchers, Payment Requests, Crypto Cards)
Burn C: Crypto Card Creation
Circulating Supply = (Total Mined - Burn U, T, C) + PoS
Crypton's circulating supply can only ever be approximated and never accurately determined because the ecosystem is designed to protect the privacy of its users and this results in certain statistics remaining either partially, or completely, unknown. Burn U can be determined accurately, Burn T can be approximated, Burn C remains unknown. Because the PoS rewards is a percentage of the actual circulating supply at the end of each month, it can only ever be approximated.
The assumptions of our CRP circulating supply estimate are as follows:
Burn U is the number of uNS record registrations multiplied by a cost of 10 CRP (undercount)
Burn T is the total amount of transferred CRP multiplied by a fee rate of 0.1% (undercount)
Burn C is completely unknown and therefore is not accounted for (undercount)
PoS rewards are not accounted for as a counter-balance to the undercount of the total burned CRP
4. Proof of Stake (PoS) Reward
Every month, users who maintain a CRP balance in their uWallet are rewarded with a rate of earnings that is designed to maintain stability and minimize volatility for the ecosystem's economy.
5. Is this Utopia's Official Crypton Block Explorer?
Just as there is no "Official Bitcoin Block Explorer" maintained by Satoshi Nakamoto, such is the state of this Crypton Block Explorer. It is maintained and updated by dedicated community members and makes use of available APIs within the Utopia client software.