About the Yerbas Endeavor

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What is Yerbas?

Yerbas is a digital peer to peer network that aims to implement a use case specific blockchain, designed to efficiently handle one specific function: the transfer of assets from one party to another. Built on a fork of the Bitcoin code, Yerbas was launched May 9th, 2022, and is a truly open source project (no ICO or premine). It focuses on building a useful technology, with a strong and growing community.

How Yerbas works

Launched on May 9th, 2022. Yerbas is an open-source project designed to enable instant payments to anyone around the world. The aim of the project is to create a blockchain optimized specifically for the transfer of assets such as tokens from one holder to another.

A combination of several forks of bitcoin code, Yerbas features five key changes:

  • The issuance schedule (original block reward of 100 YERB)
  • Block time (123 seconds)
  • Total coin supply (420 Million)
  • Mining algorithm (GhostRider)
  • On-chain Asset Creation

The algorithm is intended to address the centralization of mining caused by ASIC hardware. In the original X16R algorithm paper, the team behind the currency explains that the fixed order of ordinary hashing algorithms lends itself to the construction of ASIC miners.

The initial X16R algorithm aimed to overcome this problem by constantly disrupting the ordering of the hashing algorithms – it uses the same algorithms used in X15 and SHA512, but the ordering of those algorithms was changed based on the hash of the previous block. Eventually it became economically viable for X16R ASIC's and the community decided to implement new algorithms to mitigate the unfair distribution of Yerbas. The community has carried out 2 algorithm forks to date to mitigate the potential efficiency improvements of the ASIC miners equipment compared to over the counter consumer grade equipment.

The current  GhosRider algorithm aims to overcome the problem of centralisation of mining by utilising over the counter central processing unit (CPU) memory and compute capabilities. This is intended to allow most consumer grade CPU hardware to mine Yerbas. GhostRider is a combination of known mining technologies and methodologies from x16r (Raven) and CryptoNight (Monero). X16r provides a randomness to an existing hash chaining methodology for mining, it lacks a memory requirement which means asics can potentially gain significant advantages over cpus. CryptoNight, on other hand has features that require cpu/gpu memory which makes it harder for asics to gain a significant advantage over cpu/gpu, but it lacks the randomness that x16r has.

Yerbas assets (also less commonly referred to as a token) is an on-chain way of creating, storing, and transfering custom end-user generated information.

No additional future algorithm forks are envisaged. Note that this may allow future ASIC development to proceed, albeit as there is a limited potential for ASIC efficiency gains compared to consumer grade hardware, we are resistant to this form of centralisation.

Unique characteristics of Yerbas

  • ASIC/FPGA Resistant – Uses the GhostRider hashing algorithm to discourage the development of ASIC hardware
  • Fair launch - Everyone has equal opportunity to mine or purchase YERB since day one
  • No pre-mine, no ICO, Reward distribution: 75%miner - 20%Smartnode - 5%Development fee
  • Yerbas uses a tiered smartnode collateral and reward system which should avoid hyperinflation. A common and potentially devastating problem with many projects that use Masternodes.
  • Community Driven, and True Open Source
  • Yerbas assets