Turtle Network

Technical Specs

Turtle Network – Technical Specs

Turtle Network
– Started April ’18
– Based on Waves Platform technology

Crowdfund
Note: No ICO/Crowdfund for Turtle Network
The crowdfunding started on January 1, 2018 and ended on March 16, 2018 based on TurtleNode Whitepaper.
A total of 21 900 WAVES were collected @+-$4.70 per WAVES.
Crowdfund Distribution: 90% Fund raising, 2% for the founder, 8% Community Appreciation funds.
Evidence of Crowdfund;
– First ICO sell on Waves Platform: https://wavesexplorer.com/blocks/820645
– Last ICO sell on Waves Platform: https://wavesexplorer.com/blocks/920443
– Full ICO Wallet transactions: 3PKPd4HDTM9qFmDYQ4Fn7vrjnPR63aFWdej

Development
– API: https://api.marketdata.turtlenetwork.eu/api/
– API DOCS: https://marketdata.turtlenetwork.eu
– API verified Tickers: https://api.marketdata.turtlenetwork.eu/api/symbols
– WIKI: https://github.com/BlackTurtle123/TurtleNetwork/wiki

Algorithm
– Leased Proof of Stake (LPoS)
– stake any amount of $TN
– funds remain in your wallet

Mining
– Turtle Network secures its network with a stake leasing protocol called LPOS as it’s consensus mechanism.
– Every node with a balance greater than 1,000 TurtleNetwork ($TN) is capable of forging blocks.

Leasing
– Any amount of TurtleNetwork ($TN) can be leased to a Pool. This makes it possible for smaller stakeholders to combine forces and help secure the network.
Note: Because the TurtleNetwork leased $TN does not leave your wallet, leasing is completely safe, and you may discontinue leasing at any time.

Block time
– 1min

Max supply
– Fixed amount of 100 million TurtleNetwork ($TN)

Exchange type:
TN Decentralized Exchange (DEX)

Gateways
– Multiple gateways added – full list

Network Fees
– Transfer: 0.02TN
– Create-alias: 10TN
– Exchange 0.04TN
– Issue Token: 1000TN
– Reissue: 1000TN
– Burn 0.02TN
– Lease 0.02TN
– Lease cancel: 0.02TN
– Set-script: 1TN (asset and account script)
– Mass-transfer: 0.02 +(tx.amount+1*0.02)/2, so 3 recipient is 0.06 TN, 4 = 0.08 TN
– SponsorFee: 10TN
– Data: 0.021 TN minimal fee (depending on data size this becomes bigger)

Node Rewards Fees;
‘Minimum Generating Balance of 1000 TN’ required
Forger gets 40% next forger gets 60%

$TN Gateway Fees;
Total 0.09 TN
(0.04 TN for network fee)
(0.05 TN for gateway fee)

Note: All Gateway fees noted on the Github WIKI.