Polis connects digital communities and marginalized countries in developing areas. The project is supported by a passionate online community and experienced developers. The Polis mission is global impact through consensus backed philanthropy and humanitarian efforts.
ICO
Polis will never have an ICO because Polis is available for use by all people. Development is funded by a low pre-mine of 1% and ownership of 1% of Masternodes.
Consensus Protocol and Master Nodes
Polis is a cryptocurrency designed for a global community. Polis uses decentralized governance and a system of democratic financing to generate global impact. Polis White Paper v3.0 3 Community members are given a vote through masternode ownership. These votes determine which community proposals pass or fail.
The Polis block reward is split such that 72% of rewards are allocated to Masternodes, 18% of rewards are allocated to miners and 10% are allocated to a community-governed Treasury Fund.
From its beginning in December 2017 and until October 25th, 2018 the consensus mechanism utilized a Proof of Work (PoW) consensus, which suffered alterations and algorithm changes for block difficulty throughout its history.
As of October 25th, the blockchain moved to a Proof of Stake (PoS) consensus. The Polis PoS implementation is based of XSN StakeNet’s which based on Peercoin’s.
Polis Foundation
This legal entity is fully compliant with transparency requirements for non-profit organizations and is fully auditable by any Polis community member. The Polis Foundation will establish relationships with charities, communities, social movements and crisis organizations to facilitate the implementation of community proposals in a swift, professional and reliable manner.
Polispay
The Polis Development Team announced the release of PolisPay Card, a payment card solution allowing anyone to spend cryptocurrencies including Polis, Bitcoin and Dash at over 30 million merchants worldwide. Working in collaboration with other communities, the Polis Development Team has established form.
Additionally, The Polis Development Team has hired an experienced credit card merchant service provider for the physical release of PolisPay Cards. Available globally in Q4 2018 for 25 USD, PolisPay Cards offer convenience and reliability with multiple currency options. al partnerships with Gobyte, and ColossusXT.
Conclusion
While Polis aims to present itself as a legitimate and standalone project, a crypto community member dug into the code to find that the majority of code was copied from DASH without adding any features. Not many other red flags are present, only other one being is that the team is anonymous.
Polispay isn’t the most well-known project. Despite the fact that it hasn’t gotten much exposure, they seem to be on track with development, having a working app and a cryptocurrency card.
