Cryptocurrency DNotes’ Block Reward To Reduce By 90% As Co-founder Alan Yong Reveals His Vision

Cryptocurrency DNotes’ Block Reward To Reduce By 90% As Co-founder Alan Yong Reveals His Vision

Responding to a number of developments in the cryptocurrency world, emerging currency DNotes will reduce its mining block reward from 250 to 25 DNotes beginning Monday, June 2, 2014. This will essentially reduce the new supply of DNotes by 90%.

DNotes co-founder Alan Yong established personal computer company Dauphin Technology in 1988, which had contracts with IBM, the U.S. Department of Defense and the U.S. Department of Treasury.  Having been well regarded as a visionary of a different tech era, emerging cryptocurrencies remind Yong of the early years of personal computers in the late 1980’s:

“The cost of entry to start a computer company was so low that thousands of people worldwide claimed to be manufacturers of personal computers in a very short period of time. Just few years later, only a few were left standing. The rest is history.”

DNotes is positioned as a conservative digital currency for long term appreciation. Unlike many other cryptocurrencies where the Developer becomes inactive soon after launching the currency, the DNotes team actively provides leadership and funding to support the community. As a group it actively seek to identify projects that are mutually beneficial to the industry as a whole but also have the potential to generate significant cash flow to support the community efforts and on going project development.

Cryptomoms, launched on April 16, 2014 with world wide media attention is among a number of projects the community has identified. Developed and fully funded by the DNotes team, Cryptomoms’ core mission is to encourage and assist women to participate in the emerging world of cryptocurrency.

Cryptomoms is a currency neutral site where everyone is welcome. It provides rich contents to assist those who are new to the industry with a helpful community to assist and answer questions from new members promptly. It also serves as a global community center for industry peers to announce their products and services. The DNotes team envisions that this will evolve to be an industry forum where challenges confronting the industry will be discussed and resolved.

As experienced tech entrepreneur Alan Yong, Co-founder of DNotes and Cryptomoms explains:

“For cryptocurrency to become main stream with wide spread adoption world wide, the industry must work together to address many challenging issues. It will take a lot of hard work in unity to cultivate and promote a culture of mutual respect, cooperation, and trustworthiness, to enable a number of cryptocurrencies to be sufficiently stable and reliable with the needed liquidity as a medium of exchange for goods and services.”

Chinese descendant Alan Yong has been an entrepreneur since graduating from Northern Illinois University in 1976 with an MBA. Yong and his wife immigrated from Malaysia to the U.S in 1971. The year of graduation Yong invested $25,000 in the restaurant business and later provided $250,000 to start software and computer hardware Manufacturing and Maintenance Systems, Inc, in Lombard, Illinois. The company invested over $1 million to start Dauphin Technology, a portable computer company. With teaming partners, including Sears Federal Systems, the teams won two major contracts to supply portable computers to the U.S. Department of Defense and the U.S. Department of Treasury.

Dauphin technology grew quickly to become a media sensation with multiple news coverage weekly for a number of years as a leader in pen-based mobile computers and wireless communication. It competed head on with Apple’s Newton, the first generation of Apple iPhone and iPad as we know today. Dauphin’s popularity caught the attention of some senior IBM executives leading to a manufacturing arrangement with funding hard for a rapidly growing small company to refuse. Unfortunately, demand for the handheld computer, DTR, fell far short of industry projections. IBM decided to unload their inventory of DTRs at a huge loss leading to the demise of Dauphin Technology. Yong added that the lesson learned here is that “if you are a little mouse, don’t dance with an elephant.”  Today, Yong is also a co-owner of Smokeys Daylily Gardens, one of the largest Daylily growers in the world.

To learn more about DNotes please go to: http://dnotescoin.com/

To visit DNotes’s Cryptomoms project please go to: http://cryptomoms.com/


Related News

‘DNotes Will Be Known as the Currency with a Purpose’

After a life-long fascination with how computing power can be used to solve problems, Alan Yong, founder of DNotes, wanted to add a human element to cryptocurrency. After being introduced to cryptocurrencies in 2013, and conducting some serious research, Yong went on to found three cryptocurrency-based organizations: In 1989, Yong founded Dauphin Technology, Inc. and quickly became a well-regarded visionary in the early days of mobile computers. In 1992, his company became the Pentagon's largest supplier of laptop computers after winning a US$395 million contract. The Dauphin DTR, a....

Cryptocurrency DNotes Announces New 2016 Venture

Popular bitcoin alternative DNotes is proud to announce an upcoming, 2016 venture that will spread its virtual atmosphere across the globe through integrating DNotes currency, the blockchain and a unified payment system. Company co-founder Alan Yong says that the new company is sure to strengthen DNotes' reputation and bring it closer to becoming a global, trusted cryptocurrency that the entire world can use. Speaking with DCE Brief, Yong explained why he believes digital currency is still facing rejection by the general public: "The greatest challenge facing the cryptocurrency industry is....

Litecoin Network's First Decline in Mining Reward

F2Pool, the same mining pool which generated the largest bitcoin transaction ever recorded on July 11, mined the Litecoin network's block 840,000, with a declined mining reward from 50 LTC per block to 25 per block for the first time since its launch in 2011. The Litecoin network, similar to the Bitcoin network systemized to halve its block reward every 840,000. To celebrate its technological "milestone," the Litecoin association published a video explicating the process of the decline in mining reward. Currently, the halving of the mining reward has not affected the network significantly.....

The Great Bitcoin Halving

The Bitcoin network has been running for a few years now, with roughly over 14 million units injected into circulation by miners. In 2016, the community surrounding the currency has a major event taking place, in which miners will receive half the reward for mining Bitcoin after July 27, 2016 at 12:30:03 UTC. If calculations are exceeded by computational power, this date could change. Currently, a miner gets 25 Bitcoins per block, and the next halving is expected to cut this reward to 12.5 units. At present, the Litecoin network experienced a block reward halving, and has shown some....

Litecoin Network Experiences First Mining Reward Decline

Litecoin's block reward has halved. At block 840,000, the mining reward fell from 50 LTC per block to 25 per block, marking the first time the alternative cryptocurrency, launched in 2011, has seen such a reduction. The 840,000th block was mined by F2Pool, also known as Discus Fish. Litecoin supporters took to social media to celebrate the halving, and creator Charlie Lee thanked Chinese supporters in a YouTube message. For now, the network itself doesn't appear to have been significantly affected by the reward drop, though some have speculated that, long-term, the hashrate will fall as....

Quotes

At its core, bitcoin is a decentralized protocol that enables exchange of value among parties around the world, giving it the potential to alter the financial services landscape.

Jay Reinemann, BBVA Ventures executive director