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Community Update:

AUGUST 1, 2018
 

INTRODUCTORY STATEMENT

Hello Scroll Community and to those who may be reading,

Welcome to our second update of Scroll. Our prior update was extremely development centric. Due to recent developments, we wanted to focus on the now and what ideas have been floating around Scroll for the past month. In this update, we hope to address the concerns of anyone looking to read more into Scroll and to add an extra layer of transparency where it is needed. This update may be a pleasant surprise to some, as we are taking a lot of first steps forward that others in Blockchain may be too pensive to take. We believe this is a necessity for the evolution of this space, thus, we want to help set the standards for others to follow.

If you have further questions about the topics covered in this update, feel free to join our Telegram channel. Please be constructive in the questions you ask and we will do our best to clarify.

-The Scroll Team

ADDING TRANSPARENCY

Our leap into what we want Blockchain to become

Since the creation of Scroll, we as a team decided that one of our main priorities in the crypto and blockchain space is to lead with transparency. While we are content with the transparency we have delivered to our community, we feel updating those engaged in our dream is not enough and that we should deliver another layer of transparency in hopes that the same practice will be adopted by other Blockchain Companies. In short, we will be releasing guidelines that the Scroll Team are adopting to set the bar for what should be expected of all Blockchain Projects and Companies.

The Community we want to build

We are incredibly excited for the enthusiasm that our community has expressed about the dream we are building. Thanks to everyone, the team can go in to work everyday living the dream of the project that they had always wanted to build. We cannot thank everyone enough for making that dream a reality for us.

The Community we want to build is one of educators. As a statement to our community on social media and beyond, we would greatly prefer the conversation about the technology we are building and the products we are releasing over any speculative prediction. As stated, we will NEVER speak about price movements, team members are strictly told to not mention nor give a prediction on such movements. We are a young startup, and as a result we would prefer that our community grows with our technology. Simple as that.

“If you keep your eye on the profit, you’re going to skimp on the product. But if you focus on making really great products, then the profits will follow.” – Steve Jobs

Community Admins, and what is expected of them

Within the coming weeks, we will begin to promote community admins (We are calling them Heralds! ). These are individuals passionate about the technology we are building at Scroll and would like to share with you their passion to help spread the word. They are required to disclose that they are community admins and are to never discuss any sort of price prediction regardless of the longevity. We intend on these admins showcasing new products in the form of videos in the future before they are released to the public. Again, Heralds are meant to be Scroll educators for our community. All community admins will be listed on our website under a new section to confirm their validity.

FINDING OUR FOOTING

SCRL’s Design

The initial design of SCRL was to make sure we can create an asset that powers our network, driven on real value. SCRL is the nucleus in which we operate our network and we intend to give it more utility as we build more products. We, as a team, would like to iterate the utility function of SCRL and why it is so important to our existing network.

SCRL Utility Functions Confirmed

  • Low Gas Cost Compensation for Enterprise AND Consumer Platforms
  • Platform Subscription Fee Payments
  • One Time Fee Payments
  • Pay-as-you go Data Storage Payments
  • Product Pre-Orders
  • Node-Hosting Compensation (We will touch on that later!)
  • Data Recovery Requests (Seed words required)
  • Dev Tools Payments
  • Payments for Community Scroll DApps
  • Low Gas Cost Compensation for Community Scroll DApps

Any other utility mentioned that has not been listed above is not a confirmed utility use case for SCRL. We will continue to announce utility functions in the future, but as for now the only use cases for SCRL are those stated above.

Defining real value through proper incentive and adoption

We define real value as being able to use SCRL as a form to pay someone for their efforts and have them accept SCRL against something like a Fiat Currency. To bring mass adoption to SCRL, we must create confidence in the Digital Currency. As a result, we are confirming the introduction of a SCRL Token Burn to create confidence in holding SCRL. We are going to start this burning process at 2 Token Burns per year (1 later this year) and they will be adjusted in accordance with demand and supply, afterward we will release results on our Social Media channels.

For those concerned about us having enough SCRL in reserve for Utility, we have more than enough to ensure that the use cases previously listed will be able to work for all of our users whether its an Enterprise Client or a consumer using SlideDrive.

CONCLUDING STATEMENT AND THANK YOU

We are going to be producing more updates for our community once TechCrunch Disrupt has concluded. Our primary focus for the month of August is to prepare our technology for being showcased at TechCrunch Disrupt. We plan on doing a lot of community involvement around the event and we hope that everyone is just as excited as we are!

We would like to thank everyone once again for all the love and support through the past few months and we look forward to showing everyone more of the cool stuff we are building overtime!

From,

-The Scroll Team