Cours de Karbo

Goal of Karbo project is to create anonymous stablecoin ¨C decentralized cryptocurrency with low price volatility by using new to crypto world techniques of regulating coin supply and its market price. Key principle of CryptoNote is adaptive parameters. Karbo already has adaptive block size limit and difficulty. In addition to it Karbo will implement adaptive emission, adaptive minimal transaction fee and monetary deposit with adaptive interest rate to achieve this goal. The name "Karbo" is derived from Ukrainian word "karbovanets", that comes from an ancient way of recording settlements or debts by marking wooden stick called "tally stick" or "tally" with a system of notches that was very popular in the Mediaeval Europe from Antiquity up to the first decades of XX century. The stick would be split in half, down its length from one end to the other. The debtor would retain half, called the "foil". The creditor would retain the other half, called the "stock". Because wooden stick has natural and distinctive irregularities, the two halves would match only each other providing simple and effective protection against forgery. The way medieval tally sticks system worked resembles how blockchain works. Hence comes the name "karbovanets" and its shortened version "Karbo". The "karbovanets" has been a distinct unit of currency in Ukraine during three separate periods in its history. Nowadays it is obsolete and replaced by Ukrainian Hryvnia. "Karbovanets" therefore is a very well-known word, with very strong associations with "money" not only in Ukraine but also in Russia and other neighboring countries. It sounds familiar to people, which makes it more easy to adopt.It was resurrected in the digital form of cryptocurrency as people¡¯s unofficial, independent exchange medium.