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10 things you need to know about RECAP!

1.     What is RECAP? 

RECAP is a proof-of-work blockchain system for online news and reviews platform so that people can get reliable content without the need to trust writers or news/reviews company. When RECAP is integrated into any new or existing news portal, you do not have to rely upon some big news company or renowned news writers. You can trust the content in itself with RECAP.

RECAP transactions are verified by network nodes. New coins are created as reward by miners. Governance is handled through decentralized autonomous organization (DAO) with a subset of users called master-nodes. 

2.     What is RECAP network? 

All parties involved in RECAP blockchain falls in RECAP network. There are two sets: User network and Product network that builds the RECAP network. 

User networks includes Miners, Master-nodes and Community (content writers, validators and CDT team). 

Product networks includes all products that are built upon RECAP or uses RECAP blockchain. Currently, RECAP blockchain core supports ReviewCapital and CoinDesk Nepal. 

3.     Details on economics of RECAP coin. 

Total supply/Max supply: 111,000,000 RECAP 

Circulating supply: 0 (currently) but will be 100%  

Founders’ reserved: 0  

Pre-sale/Pre-mine supply: 0   

Halving period: every 777,000 block 

Tail emission: None  

Block time: 2 minutes 39 seconds) 

Reward per block: 33 RECAP 

4.     How to earn RECAP coin? 

RECAP can be earned from mining, running master-nodes and being involved in community. Each block is rewarded with 33 RECAP and distributed as listed in the below table: 

Receivers Allocation 
Miner 30% 
Master Node 30% 
Community 40% 
Content Writer 40% 
Validator 20% 
Development 25% 
CDT member 10% 
Marketing 5% 
RECAP coin reward distribution table

5.     Is RECAP available in trading exchange? Can I buy RECAP? 

Currently RECAP is not officially available in trading platform. 

6.     What is CoinDesk Nepal? 

CoinDesk Nepal is a blockchain news portal that runs on RECAP blockchain. Users can submit the articles related to blockchain information; which are voted by master-nodes to get published. Article-writers get rewards in RECAP coins determined by median reward value from ReviewCapital on monthly basis. CoinDesk Nepal is the first of its kind as decentralized news platform. 

7.     What is ReviewCapital? 

ReviewCapital is a web application that runs on RECAP blockchain. In fact, RECAP got its name from ReviewCapital. ReviewCapital targets to decentralized all content-review-systems so that reviews can be made more authentic. Users can post reviews; and get rewards in RECAP coins based on authentic scores. 

8.     Can third-party application use RECAP blockchain? 

Yes, third-party applications related to reviews can use RECAP blockchain. For example, google reviews or yelp or IMDB can integrate RECAP blockchain. Once integrated, review writers on such platform get RECAP reward. 

9.     How to become a master-node of RECAP? 

To become master-node of RECAP, user needs to deposit 5,000 RECAP coins and run full node. 

10.  What is the difference between CDT team and Master-node? 

The difference between CDT and Master-node lies in task they do. 

CDT team tracks the progress of RECAP network. There can be maximum 21 members in CDT team with particular role assigned. 

Master-node votes to finalize all RIP (RECAP Improvement Proposals). It requires 5,000 RECAP coin as deposit and has to run full node. Master-nodes have voting power. 

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Krishna
Krishna is an initial CDT member of RECAP blockchain network; a crypto enthusiast who has worked on multiple startups since 2013.
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