What is Kulupu? A democratic project that allows the community to decide on the direction of the project based on an on-chain governance structure. The start of Kulupu was back in September of 2019 with 0 coins in its genesis block. The platform is a self-updating and self-governing blockchain system that uses proof-of-work for consensus. Additionally it is on the Substrate framework, one of the first few blockchains that combine proof-of-work consensus engines with forkless upgrades. So you may have heard of the Polkadot blockchain, the Substrate blockchain is actually compatible with the Polkadot system. Hence, it provides a secure and easy way to communicate between the two networks!
Before we dive into how it works, let’s talk a little about its name. Kulupu is a Toki Pona language, and the name means community or group. The language is a philosophical one that seeks to bring positive vibes and concentration for basic things. In summary, you can consider it as minimalism. So the name fits perfectly to Kulupu’s purpose as it hopes to focus on something democratic where the community can be involved.
What are some features of Kulupu?
Like many of the normal features of a proof-of-work blockchain, you can expect the same for Kulupu.
Kulupu was launched with 0 coins in genesis block. It currently emits 1 KLP per second.
The Kulupu platform uses the battle tested RandomX mining algorithm from Monero.
Similar to traditional PoW blockchains, it is censorship resistant, accessible to all, peer to peer, and permissionless.
Apart from its normal features, Kulupu pertains some unique features as well:
On-chain Governance and Forkless Upgrades
Kulupu has an on-chain democracy structure that allows users and a democratically elected council to submit referendum proposals. These proposals are then voted by coin-holders. With this structure, it allows Kulupu to enact runtime upgrades much easily and with reduced risks of network splitting as compared to hard-fork based systems. The system also allows for upgrading consensus, including mining algorithms and difficulty adjustment algorithms.
Signed Mining and Block Reward Lock
Block reward lock and signed mining allows Kulupu to account for its security. It also prevents hash-power rental attacks and botnets.
Voluntary Taxation and Treasury
With a democratic governance, the system allows Kulupu to build a public-good treasury system. Token holders will have the final decision on how funds are used. Hence, the treasury taxation is fair and voluntary reducing the risk of centralization/misuse.
Actor-Based Smart Contract
The Actor-Based Smart Contracts solves outstanding issues in a normal call-based smart contract system. It will improve backward compatibility, fee payment, and many other areas.
Interoperability with Polkadot
Built on the Substrate network, the platform is interoperable with the Polkadot system as well.
Block Time: 60 seconds
Total Issuance: Governed on-chain, expected to have no more than 20 million KLP
A majority of Kulupu’s governance process occurs as referendum ensuring the network only enact changes when agreed by stakeholders. The two assisted groups are elected by stakeholders to help deal with issues such as identity and emergency hard forks. Kulupu governance ensures users have both the choice to follow a hard fork or not. The whole governance process is also fully automated without needing to worry about non-scalable human processes.
To be a part of the Kulupu governance, feel free to check out this article.
The Founders and the Council
The development of the Kulupu project is by Wei Tang. He worked as one of the core developers for Parity Technologies, specifically working on Substrate, Polkadot, and Ethereum. Wei Tang also wrote the PoW consensus engine for Substrate. Furthermore, he has a strong passion for decentralized projects and open source projects.
The council of Kulupu is made up by members of the community. They elect the council democratically through community votes. At the time of the article, the council members include: Wei, Dillion, Crypto Humanist, Set Animals, Legend, KaosOne, Prague, Nakashu, and more… Moreover all these members will work together to help make the Kulupu platform run smoothly.
As for wallets, one of the most recommended wallets by the community is the Web and Desktop Wallet. A multiplatform wallet known as Math Wallet has also just been added recently. This will allow you to store and transfer KLP via the phone app of the wallet. So if you wish to learn how to create your wallet, feel free to check out this guide here produced by Kulupu Warrior.
To conclude, the Kulupu network is an exciting project that gives power to the people and the community. Moreover it continuously stresses one of the main reasons for Bitcoin and cryptocurrency’s creation, decentralization. The Kulupu network is definitely something to look out for and check out! So if you would like to learn more, check out their social below!
Janet Yellen, who is expected to lead the US Treasury Department for the incoming Joe Biden administration, raised concerns around the use of Bitcoin (BTC)
Decentralized exchange (DEX) volumes are surging to reach all-time highs, as another booming sector in the crypto space amid Bitcoin (BTC)’s surge. Starting 2021 off
Digital asset manager Grayscale Investments has added another 2,172 Bitcoin (BTC) to its Bitcoin Trust, on the first day it reopened deposits for the fund.