Newton aims to build a community-based economy that benefits all contributing participants by providing services around governance, collaboration, and incentives. The project has raised ~$32.5MM via private and public token sales, and is founded by Xu Jizhe and Li Shubin.
Newton plans to implement a Delegated-Proof-of-Stake mechanism for block producer election, who will utilize the Proof-of-Authority consensus mechanism for block production.
Newton has a full-stack technology architecture, including an underlying public blockchain (New Chain), a distributed storage service (New Net), and New IoT which will be developed in future releases.
As the native token of the Newton network, NEW will be used for token transactions and smart-contract execution, similar to how ether functions in the Ethereum ecosystem.
1. What is Newton (NEW)?
By providing services around governance, collaboration, and incentives, Newton aims to build a community-based economy that benefits all contributing participants.
Newton has a full-stack technology architecture, including a underlying public blockchain (New Chain), a distributed storage service (New Net), and New IoT which will be developed in future releases. The Newton team plans to implement a Delegated Proof of Stake mechanism for block producer election, who will utilize the Proof of Authority consensus mechanism for block production.
Instead of tokens, Proof of Authority utilizes each node's reputation as stake, and each node has the same weight in the block production process after they are elected as validators. The Delegated Proof of Stake mechanism for electing block producers is under development. Currently all block producers are run by the project team and its partners, but the team plans to decentralize the network in the future. As at this time of writing, block producers do not receive any block rewards, and block rewards are distributed only to ecosystem participants that contribute to the system by referral, voting, etc. Block producers will begin to receive block rewards once the general public starts participating in block production (after Delegated Proof of Stake is implemented).
Newton has developed a Hyper Exchange Protocol on its basic technology layer. The Hyper Exchange Protocol enables functionalities including digital identity and credit, supply chain, digital marketing, payments, etc.
As the native token of New Chain, NEW will be used for token transactions and smart-contract executions, similar to how ETH functions in the Ethereum ecosystem.
The first application running on Newton is New Mall, a blockchain-based ecommerce platform which aims to eliminate intermediaries. In addition to the retail industry, the Newton team is also committed to fostering applications in agriculture, supply chain, self-finance, payment, public welfare, games and other fields.
*Originally, 1,500,000,000 NEW was reserved for the Public Sale, however not all of them were sold. The unsold 1,176,338,738.54 NEW were burnt, reducing the total NEW supply from 100,000,000,000 to 98,823,661,261.46.
2. Economics and supply
The supply allocation is as follows:
Seed Sale tokens comprise 7.59% of the total token supply. It was conducted in March 2018 at a rate of 15,000,000 NEW = 1 BTC and raised a total of 500.00 BTC (~$4.27MM) at ~$0.0005697 per NEW, selling 7.59% of the total token supply.
Private Sale tokens comprise 6.07% of the total token supply. It was conducted in July 2018 at a rate of 2,000,000 NEW = 1 BTC and raised a total of 3,000.00 BTC (~$22.99MM) at ~$0.0038311 per NEW, selling 6.07% of the total token supply.
Public Sale tokens comprise 0.33% of the total token supply. It was conducted in April 2019 at a rate of 1,078.17 NEW = 1 HT and raised a total of 1,855,000 HT (~$4.00MM) at ~$0.002 per NEW, selling 2.02% of the total token supply.
Huobi IEO tokens comprise 2.02% of the total token supply.
Community Incentives tokens comprise 60.71% of the total token supply.
Team tokens comprise 10.12% of the total token supply.
Foundation tokens comprise 13.15% of the total token supply.
NEW supply distribution
Community Incentives tokens will continue to be released after December 2021.
NEW release schedule
3. Newton's activity and community overview
3.1 Development activity
3.2 Social activity
Newton has established community groups covering 89 countries. Newton will initially focus on China, Russia, Vietnam, and Turkey, before expanding into other regions of the world.
Current community growth strategies of Newton include:
Cooperating with Newton Ecosystem partners, such as Wanqi Group and Miaocaiwang, etc., to bring more users into the Newton community.
Hosting global Newton Ecosystem Seminars and Newton World Conference.
Launching online marketing events.
Providing tutorials for new community members.
Project progress updates and media cooperation.
Future community growth strategies of Newton include:
Improving developer toolkits and hosting local developer conferences.
Launching the Blockchain Debate Podcast to improve brand awareness.