Inspiration

There is a dream in the world of crypto where every business needs its own coin. The issue most coins made for a business is that there is no connection between the value of the the coin and the value of the business. TruQoin's focus is on demonstrating how the coins value is connected to the activities in a business that create value. In turn those same activities mine the coin and reflect the value.

What it does

By using the architecture of Bitcoin as a model for mining coin, TruQoin is mined by the sales transactions from TrūIQ Global. When 2,100 sales of products are reached then one block of TruQoin is completed and the coin is distributed to the miners based on their activity points they gained.

How we built it

We used 4 Smart Contracts on the TRON blockchain to host the TruQoin ecosystem. We upload the data from the sales of products to the blockchain as the proof that work was done to release the coin from each mined block.

Challenges we ran into

First, The main issues in dealing with an existing brick and mortar business is determining how many mining points are giving for any particular activity.
Second, Is figuring out the best way to balance how the POS of the TRON DAO in using Energy and Bandwidth to upload data. There was a lot of testing different ways of collecting a set of data to upload and how to space out the uploads.

Accomplishments that we're proud of

Since TruQoin has been started to disburse the mined coin to the miners as a reward for their activities in TrūIQ Global, the rate of sales is increasing and the value of the business and TruQoin is also increasing. This proves the concept is woking as intended.

What we learned

The crypto industry is new to most people. They are in need of training as this type of currency is new to them. In order to help we have created the Q Club training program.

What's next for TruQoin - Crypto Mining Cooperative

We are working how to create a swap DEX to swap TruQoin for the products TrūIQ sales, which will be a unique type of DEX.

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