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About Uther
Uther itself is the cryptocurrency that fuels the network. The Uther network is secured by Proof-of-Work using the Dagger algorithm. A CPU miner is built-in, and Etherium's GPU miner can be used on the RPC. For their good work securing Uther network, miners are rewarded 3 Uther per block. Lika all other children of Ethereum, Uther aims at block time of about 20 seconds. The difficulty starts low to give CPU miner a chance but adjusts quickly. Later, when the network is secure and thriving, Uther will shift to proof-of-stake.
There is a premine for development and marketing: bounties, rewards, etc. Both are secured by smart contracts to ensure they will be used for the long-term good of Uther. The total premine is 12 million because other clones with smaller premines ran into trouble. Uther is here for the long term. Its total supply will be the same as Ethereum's. Central to Uther is the smart contract. As a platform, Uther has the same functionality as Ethereum. Because it is new, it provides a testbed to write smart contract much more cheaply than with Ethereum. As a community grows, the ecosystem grows with it. As the ecosystem grows, smart contract field becomes lusher. The more lush the field, the more useful Uther is! A virtuous circle. Smart contracts, as many knows, will change the world. They will enable digital purchases, with digital keys sent to the buyer from a smart contract. They will enable smart auctions, with the winning buyer notified and even served with delivery from a smart contract. They will enable price feeds, either trustless through Guildencoin algorithm or always open to public inspection. These feeds, inspectable at will through the data from websites, will spawn market of derivatives. The first derivative will be simple, like the contract for differences, but the ecosystem growing lush will lead to more complex ones. Again, the public inspection will verify when feeds are not trustless.
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