SPACO: Next-gen network protocol

Q: Why are we called SPACO? 

A: SPACO translates to “space” in the language Esperanto. Our ambition is to create a parallel network or “space” from which the current world is using.

Q: What goal is SPACO trying to achieve?

A: We want to build a distributed, encrypted and smarter network that can evolve itself. SPACO is a series of protocols and applications that will run on parallel networks like Skywire.

Q: What will the SPACO network be used for?

A: We will implement a Http/Https gateway to map internet sites to our SPACO network. We plan to provide software that will help build native SPACO network content. The underlying network is based on Skywire and another similar devices. At the same time, we are developing our browser.

Q: Will SPACO be able to detect an ARP-spoof?

A: Generally, ARP is used to map mac address to IP address. In the SPACO network, we will use a private key to replace the IP’s. If you don’t have the private key, you can’t fake the data. You can do an ARP-spoof, but the faked data sent will be ignored.

Q: What is Nebula?

A: Our storage system is named “Nebula”. It’s based on Skycoin’s CXO, DHT, Merkle DAG….. Nebula is not only a distributed file system, but also a distributed storage system  and can replace current day applications like DropBox, Bittorrent and CDN (Content Delivery Network), while also providing storage APIs for the Apps that will run on the SPACO network. While distributed business are still in the infancy of their adoption, we plan to help increase the awareness and uptake via the SPACO network to show the importance of decentralization and net neutrality.

SPO: Next-gen crypto token

Q: Where I can check how many people own SPO now?

A: We are currently in a pre-distribution where 30 million tokens will be released, at current there are only about 3.1m tokens remaining. This can be viewed via the donation page of our wallet. SPO & Hours will be used to provide the users content and resource on SPACO network. We expect our user base will rise quickly after first product release.

Q: What are token hours?

A: It’s tangible and tradeable asset that will be receive for holding SPO in your SPACO wallets. Similar to staking, every SPO held in your wallet will receive 1 Token Hour for every hour held. ( 100 SPO, held for 1 hour, will receive 100 Token Hours). These Token Hours will also be used to pay for SPACO network assets, like transaction fees, storage and content.

As a reward to early investors, we will be sending tokens with to the oldest address. So token hour’s distribution will very large. When we start the new OTC (Over the Counter) to sender address, the token hours will dramatic decrease.

Q: What is the expected supply in 2018?

A: We don’t plan to distribute too many tokens in the short term, we will be using a math model that will assist with distribution and simulate all kinds of situation. We have fixed 2.8 billion as the max supply, and 250 million will be our total supply for the long term. 250m tokens will be used to satisfy our fluidity demand at first stage. It’s locked by our “InitialUnlockedCount” codes and you can check out the github for further details. We’re also doing engineering experiments using the HMM model and other math toolboxes to simulate our economic model.

Q: How will the SPO – BTC ratio be changed?

A: For testing teller and the other systems, we have set the lowest ratio at 1SPO=0.000007BTC. It is able to be changed at any time.

Q: How can I get SPO?

A: Download and run our wallet client here for the platform you are using. Use the “donation” button in the SPACO client. You can then transfer BTC ETH XMR SKY for SPO.

Q: How do I generate my SPACO wallet from seed?

A: When you first select “Add Wallet” in our client, your seed will be generated there, we recommend writing this down for security and to be able to restore your wallet at a later date.

TELLER: The new distribution model

Q: What is TELLER?

A: TELLER is new way to instantly purchase coins/tokens without having to utilise exchanges and pay withdrawal fees or delays currently experienced.

Q: What kind of cryptocurrency does teller support?

A: Right now it supports BTC, ETH, Monero and Skycoin.

Q: Is there any chance the SPACO team will add another cryptocurrencry to teller?

A: Yes, and we are always happy to adapt and listen to your suggestions, we have just added Monero to the list.

Q: Can I send BTC/ETH/SKY/XMR from exchanges to the SPACO wallet client to get SPO directly?

A: Yes. In the SPACO wallet, simply select the deposit button for either BTC ETH XMR SKY to get the address to send too.

Q: The automated OTC distribution is very smooth and convenient, though a bit intimidating at first.

A: Like all new things, until it’s familiar, it will be a little different. Once users see how fast and easy it is, the Teller service will be massively adopted and long-standing in the crypto community. Like all our products, we will be working to on keep improve it.

Q: When using the teller, if I want to buy SPO with ETH, which address do I send funds to? Is it the SPACO address?

A: Similar to the question above, under the wallet tab, make sure you know the SPACO address you want the SPO to end up in. Then in the donation tab, select the “Deposit” button next to ETH. In the popup box, select the address you want the SPO to end up (step 1 address), then press “Generate”. You will now have a “deposit” address to send you ETH to.

Q: I pasted Skycoin address when I want to get SPACO Token what should I do?

A: Because SPACO and Skycoin has same address generate algorithm. So if you use Skycoin address to receive SPO, you should do as below to get SPO:
1), Download SPACO wallet from https://spaco.online/download
2), Get seed from your Skycoin wallet
3), Add wallet in your SPACO wallet, paste the seed from your Skycoin wallet
4), You can see the SPO you received.