Growing With Purpose
Sarasota Coin network enables a data sharing economy powering smart cities
TRUSTED BY OVER 2K COMPANIES
Sarasota Coin SRQ is a unique algorithm which allows users to participate in a Internet of Things mesh network which pays you for being a validator
Sarasota Coin is a self-governing contract on a distributed ledger known as a blockchain. Sarasota Coin is a token that is mineable within a unique location based algorithm within Sarasota County. The smart contract governing Sarasota Coin is also known as SRQ, and acts as an agreement between the miners and the city’s treasury wallet. The token enables the owners of the coin to vote on important decisions for the decentralized organization, similar to how equity shareholders have voting rights in traditional municipalities. The token’s ownership is recorded on a blockchain which allows for transparency of transactions on the distribued ledger network
A PROMISING FUTURE
Growth With Purpose
Sarasota Coin is built on Bitcoin. We believe in Bitcoin’s future which is why we use Stacks for smart contracts on the worlds biggest digital asset.
Community driven partnerships
No pre-mined coins
Verified Random NFT Lottery
Holders receive STX and BTC as passive income yield
Develop code for Sarasota Coin (SRQ) and deploy on Stacks test network.
Debugging and redeploy
Audit code internally
Third party audit code
Deploy on main network
Community awareness campaign
Virtual AMA session
In person convention for technology and finance industry leaders
Designation of verified nodes (20 nodes minimum)
Release date announcement
SRQ fair launch
The most frequently asked questions
Sarasota Coin is a token that exists on Stacks network. Tokens on Stacks network earn the STX token. By holdings or delegating Sarasota Coin, users earn rewards. A portion of the rewards also go to the City of Sarasota. The city treasury wallet is controlled by the Mayor of Sarasota.
Stacks connects to Bitcoin. Bitcoin is the world’s largest decentralized payments network. There is no centralized controller of Bitcoin therefore the network is governed by the concensus of the users. Bitcoin is both the first and the largest crypto currency.
Sarasota Coin (SRQ) is built on Stacks which enables smart contracts on Bitcoin.
Sarasota Coin is a smart contract built on Stacks. The growth of Sarasota Coin funds the City of Sarasota. Sarasota Coin growth benfits both the city and the users who participate in mining. 30% of the rewards go to the City’s treasury wallet and 70% go to the miners. The municipal government and the citizens of Sarasota have aligned incentives in this type of equity taxation model isntead of the debt model we commonly use today. Sarasota coin represents the future of public municipality funding.
Stacks is built on Bitcoin. Using Bitcoin as a settlement layer adds finality to the network, ensuring that transactions are irreversible. Stacks has it’s own blockchain which uses proof of transaction (PoX) as their consensus mechanism. This unique consensus mechanism incentivizes miners to bid their Bitcoin to earn the next block reward of Stacks token STX. Holders or ‘Stakers’ earn both STX and Bitcoin for their time held, similar to a bond in traditional financial markets. Sarasota Coin (SRQ) can be mined to earn Stacks (STX).
Stacks is built using the programming language Clarity.
Clarity is a trusted programming language
Contracts are human readable. There is no ambiguity about gas fees.
Language is interpreted not compiled
Clarity is a non-Turing complete programming language
There have been a handful of extremely high profile exploits around the blockchain industry. In 2017, ‘The DAO’ hack abused a recursive call exploit to completely eviscerate one of early blockchains’ most promising smart contract use cases. Re-entrancy is always a concern and is what caused the Parity multi-sig wallet to lose over $30 million in $ETH. The halting problem, where a program gets trapped in a particular code snippet, can cause big computational problems and is what forced Ethereum to implement the gas system.
All of these vulnerabilities were in some way caused by unnecessary complexity accompanying a Turing-complete programming language such as Solidity.
Clarity’s support for types and a type-checker eliminates bugs like unintended casts, re-entrancy exploits and reads of uninitialized values.