OKCash is a hybrid cryptocurrency that evolved into a full Proof of Stake (PoS) system. [Efficient & Energy Friendly]
Okcash is simple to use, efficient and sustainable, it boasts of a confirmation rate higher than most cryptocurrencies, fast speeds, low fees, long term sustainable staking, a secure messaging system and is ready for the Internet of Things (IoT).
Okcash is a decentralized and fast growing cryptocurrency / movement that was born on Nov 24th 2014. OK was mined (PoW-Scrypt) and evolved to be stake-able (PoS-LTSS-Sha256). Okcash is not a security, it never had an ICO, nor any kind of funding rounds. OK is self sustainable and is fully supported by voluntaries (Just like Bitcoin).
OK is the short name for Okcash.The OK network is decentralized and Always Available World Wide. OK is open-source; its design is public, nobody owns or controls Okcash and everyone can take part.What is Okcash? Watch the Video
Your Okcash wallet is the software you use to send, receive and store your Okcash. It’s simple to use and you can choose to send and receive OK payments or secure messages from your own OK wallet.Join the OK movement and Get my Okcash wallet Now!
The main mission of the Okcash project is to empower its users while being energy friendly and sustainable, evolve with positive innovations, and decentralization to give the power to the user and help advance crypto forward.
The OK movement mission is to help change the world with positive innovation.
These are some of the benefits of start using Okcash:
OK is open-source; its design is public, nobody owns or controls Okcash and everyone can take part.Okcash is free software and any developer can contribute to the project. Everything you need is in the GitHub repositories.
Nov 24, 2014 (PoW-PoS)
Proof of Stake LTSS
105,000,000 OK (5 times Bitcoin max cap)
With Okcash being decentralized, it is difficult to provide a full roadmap. There are many different teams and individuals indepently working on their own projects utilizing Okcash or to help improve Okcash. In the working roadmap below we can find some of the OK goals and upcoming features by different teams. This is not fully inclusive of all milestones and upcoming features. New services and features may be integrated at any time based on community consensus, or by different users or teams without prior announcement.
To contribute, learn more or to follow the development closer;
join the OK communities over: discord.io/cryptocurrency
• OK core performance & security update
• Resources update
• OK core bip updt
• OK electrum client
• Resources update
• New Resources for services
• OK 5th Birthday
• Ledger Integration
• ROKOS 10 release
• OK dev [Open source devs community for Okcash]
• OK core design upgrade
• TrustWallet Integration
• OK web staking wallet
• OK mobile staking wallet
• OK core upgrade
• Okcash wiki
• OK network health nodes map
• OK self governance system [open test]
• Okcash foundation
• OK block reward halving
• Decentralized / uncensorable OK website [UD + IPFS]
• OK self governance system [release]
• ROKOS 11 release
• ROKOS + smart contracts [open test + giveaway to OK holders]
• OK core upgrade
• OK 6th Birthday
• OK Point of sale for IOT systems [open source]
• ROKOS + smart contracts [release + giveaway to OK holders]
• OK core upgrade
• ROKOS 12 release
• OK Dex [open test]
• OK core secure message system upgrade
• OK Point of sale for multi platform [open source]
• OK Dex [release]
• OK game multi platform [open test]
• OK core upgrade
• OK game multi platform [release]
• OK readable addresses [open test]
• OK core upgrade
• OK 7th Birthday
• OK readable addresses [release]
• OK easy (1 click) transfer system [open test]
• ROKOS 13 release
• OK core upgrade
OK is fully supported by voluntaries, different businesses, services, communities, groups and individuals world wide and anyone can join.
Here are some out of many.
Okcash was born from a small community and has grown fast. There are a lot of things you can do to support it and help others learn more.
Using OK is the first thing you can do to support Okcash. There are probably many cases where it can make your life easier. You can accept payments and make purchases with Okcash.
With just an Internet connection, you can help strengthen the OK network by keeping an Okcash full node wallet running on your computer or server. Full nodes secure & relay transactions.
You can help spread Okcash awareness by translating or improving translations inside important parts of the OK ecosystem or translate articles and guides that can help new users.
Okcash is free software. If you are a developer, you can use your superpowers to do good and improve Okcash. Or you can build amazing new services or software that use Okcash.
The easiest way to help is to donate some OK to charity projects. Or you can help directly fund any project related to Okcash that you believe will be helpful in the future.
You can join Okcash communities and talk with other OK enthusiasts. You can learn more about Okcash every day, give help to new users and get involved in interesting projects. You can also create your own Okcash communities.
Speak about Okcash to interested people. Write about it on your blog. Tell your favorite shops you would like to pay with Okcash. Help to keep merchant directories up to date. Or be creative and make yourself a nice Okcash T-shirt.
Okcash.org provides useful document- ation and we are constantly improving the information it contains. You can help to improve these resources and keep them up to date or add new translations over the Okcash.org Github
Find answers to recurring questions and myths about Okcash.
Okcash is an energy friendly consensus network that enables a new payment system and a complete control over your digital cash. It is one of the first proof of stake decentralized peer-to-peer payment networks that is powered by its users with no central authority or middlemen. From a user perspective, Okcash is pretty much like fast and energry friendly cash for the Internet. Okcash can also be seen as one of the most prominent proof of stake triple entry bookkeeping system in existence.
Nobody owns the Okcash network much like no one owns Bitcoin or like no one owns the technology behind email. Okcash is controlled by all Okcash users around the world. While developers are improving the software, they can't force a change in the Okcash protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Okcash can only work correctly with a complete consensus among all users. Therefore, all users and developers have a strong incentive to protect this consensus.
From a user perspective, Okcash is nothing more than a computer program or mobile app that provides a personal Okcash wallet and allows a user to send and receive Okcash with them. This is how Okcash works for most users.
Behind the scenes, the Okcash network is sharing a public ledger called the "OK block chain". This ledger contains every transaction ever processed, allowing a user's computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending OK coins from their own Okcash addresses. In addition, anyone can process transactions using the computing power of their processor and earn a reward in OK coins for this service. This process is often called "staking".
You should never expect to get rich with Okcash or any emerging technology. It is always important to be wary of anything that sounds too good to be true or disobeys basic economic rules.
Okcash is a growing space of sustainable and energy friendly innovation and there are business opportunities that also include risks. There is no guarantee that Okcash will continue to grow even though it has developed at a very fast rate so far. Investing time and resources on anything related to Okcash requires entrepreneurship. There are various ways to make money with Okcash such as staking, speculation or running new businesses. All of these methods are competitive and there is no guarantee of profit. It is up to each individual to make a proper evaluation of the costs and the risks involved in any such project.
Receiving notification of a payment is almost instant with Okcash. However, there is a delay before the network begins to confirm your transaction by including it in a block. A confirmation means that there is a consensus on the network that the OK coins you received haven't been sent to anyone else and are considered your property. Once your transaction has been included in one block, it will continue to be buried under every block after it, which will exponentially consolidate this consensus and decrease the risk of a reversed transaction. Each confirmation takes between 1 second and 144 seconds, with 72 seconds being the average. If the transaction pays too low a fee or is otherwise atypical, getting the first confirmation can take longer. Every user is free to determine at what point they consider a transaction sufficiently confirmed, but 5 confirmations is often considered to be as safe as waiting 5 months on a credit card transaction.
This works fine. The OK coins will appear next time you start your Okcash wallet application. The OK coins are not actually received by the software on your computer, they are appended to a public ledger that is shared between all the devices on the OK network. If you are sent Okcash when your wallet client program is not running and you later launch it, it will download blocks and catch up with any transactions it did not already know about, and the OK coins will eventually appear as if they were just received in real time. Your wallet is only needed when you wish to spend your Okcash.
Long synchronization time is only required with full node clients like OK Core. Technically speaking, synchronizing is the process of downloading and verifying all previous Okcash transactions on the OK network. For some Okcash clients to calculate the spendable balance of your Okcash wallet and make new transactions, it needs to be aware of all previous transactions. This step can be resource intensive and requires sufficient bandwidth and storage to accommodate the full size of the OK block chain. For Okcash to remain secure, enough people should keep using Okcash full node clients because they perform the task of validating and relaying transactions.
Staking is the process of spending cpu power to process transactions, secure the network, and keep everyone in the system synchronized together. It can be perceived like the Okcash data center except that it has been designed to be fully decentralized with stakers operating in all countries and no individual having control over the network. This process is referred to as "staking" as a cross analogy to Bitcoin mining because it also provides a reward in exchange for useful services required to operate a secure payment network issued in new Okcash (OK coins). Unlike Bitcoin mining, however, Okcash staking is energy friendly and more sustainable. Staking will still be required after the last Okcash is issued.
Anybody can become an Okcash staker by running the Okcash wallet software with some OK coins in the wallet. The OK wallet software listens for transactions broadcast through the peer-to-peer network and performs appropriate tasks to process and confirm these transactions. Okcash stakers perform this work because they can earn transaction fees paid by users for faster transaction processing, and newly created OK coins issued into existence according to a fixed formula.
Okcash stakers are neither able to cheat by increasing their own reward nor process fraudulent transactions that could corrupt the OK network because all Okcash nodes would reject any block that contains invalid data as per the rules of the Okcash protocol. Consequently, the OK network remains secure even if not all Okcash stakers can be trusted.
Staking creates the equivalent of a competitive lottery that makes it very difficult for anyone to consecutively add new blocks of transactions into the OK block chain. This protects the neutrality of the OK network by preventing any individual from gaining the power to block certain transactions. This also prevents any individual from replacing parts of the OK block chain to roll back their own spends, which could be used to defraud other users. Staking makes it exponentially more difficult to reverse a past transaction by requiring the rewriting of all blocks following this transaction.
You only need to have OK coins and stake them in the Okcash wallet or in a staking pool.
The OK technology - the protocol and the cryptography - has a strong security track record, and the OK network is one of the big distributed computing projects in the world. Okcash's most common vulnerability is in user error. Okcash wallet files that store the necessary private keys can be accidentally deleted, lost or stolen. This is pretty similar to physical cash stored in a digital form. Fortunately, users can employ sound security practices to protect their money or use service providers that offer good levels of security and insurance against theft or loss.
The rules of the protocol and the cryptography used for Okcash are still working years after its inception, which is a good indication that the concept is well designed. However, security flaws have been found and fixed over time in various software implementations. Like any other form of software, the security of Okcash software depends on the speed with which problems are found and fixed. The more such issues are discovered, the more Okcash is gaining maturity.
There are often misconceptions about thefts and security breaches that happened on diverse exchanges and businesses. Although these events are unfortunate, none of them involve Okcash itself being hacked, nor imply inherent flaws in Okcash; just like a bank robbery doesn't mean that the dollar is compromised. However, it is accurate to say that a complete set of good practices and intuitive security solutions is needed to give users better protection of their money, and to reduce the general risk of theft and loss. Over the course of the last few years, such security features have quickly developed, such as wallet encryption, offline wallets, multi-signature transactions and hardware wallets.
Yes, most systems relying on cryptography in general are, including Bitcoin and traditional banking systems. However, quantum computers don't yet exist and probably won't for a while. In the event that quantum computing could be an imminent threat to Okcash, the protocol could be upgraded to use post-quantum algorithms. Given the importance that this update would have, it can be safely expected that it would be highly reviewed by developers and adopted by all OK users.
To the best of our knowledge, Okcash has not been made illegal by legislation in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) severely restrict or ban foreign currencies. Other jurisdictions (such as Thailand) may limit the licensing of certain entities such as Bitcoin and Cryptocurrency exchanges.
Regulators from various jurisdictions are taking steps to provide individuals and businesses with rules on how to integrate this new technology with the formal, regulated financial system. For example, the Financial Crimes Enforcement Network (FinCEN), a bureau in the United States Treasury Department, issued non-binding guidance on how it characterizes certain activities involving virtual currencies.
Okcash is not a fiat currency with legal tender status in any jurisdiction, but often tax liability accrues regardless of the medium used. There is a wide variety of legislation in many different jurisdictions which could cause income, sales, payroll, capital gains, or some other form of tax liability to arise with Okcash.
Okcash is freeing people to transact on their own terms. Each user can send and receive payments in a similar way to cash but they can also take part in more complex contracts. Multiple signatures allow a transaction to be accepted by the network only if a certain number of a defined group of persons agree to sign the transaction. This allows innovative dispute mediation services to be developed in the future. Such services could allow a third party to approve or reject a transaction in case of disagreement between the other parties without having control on their money. As opposed to cash and other payment methods, Okcash always leaves a public proof that a transaction did take place, which can potentially be used in a recourse against businesses with fraudulent practices.
"We are the nerds, the misfits, the rebels, the troublemakers, the crazy ones enough to believe we can do so with our passion." ~ In answer to Steve Jobs "The Crazy Ones"