In order for us to know a bit more about you could you please explain us the reasons which made you created the Renos project? Does the word Renos has a special meaning?
We were a small group who have been in the altcoin scene for a while. After seeing many coins come and go and seeing the reasons for their failures/successes we took a chance to create our own and do it our way. We found that not enough projects listen to their community as much as they probably should. Not to say that none listen, but there are times where we have watched projects head in directions different to that of what the community might want. I wouldn’t say it is an easy thing to do, but listening to the will of our community is what has brought us to our upcoming release. There were votes regarding features they would want in our first major update as well as the specifications of these features. Based on those votes we have worked to make those a reality. It is on this principle that we started RENOS and will continue to govern RENOS in such a fashion. The name Renos was just an idea which came to mind. There isn’t too much of a deeper meaning behind it (although I wish there was). We needed a brand name, something unique and not similar to other projects in the space.
Renos has started his story by an historical air drop. Why this choice?
The airdrop was the best option for us to achieve both a fair yet equal distribution. Regardless of your capability to invest in a project, anyone can download a wallet and send a PM on bitcointalk. While there are inherent disadvantages to any sort of distribution, we felt that airdrop would be best to achieve our main goal of a distribution for anyone and everyone. It was a tiring process doing withdrawls day in and day out for quite sometime while attempting to weed out spam accounts some use to exploit typical giveaways/bounties/airdrops. While boring and mundane at the beginning we felt it was time well spent to ensure that this was distributed in such a fashion. Big whales, small fish, maybe someones first experience in crypto. They all had a chance with no commitments to get in on the airdrop.
Among all the existing altcoins could you please explain the specialities and/or differenced of Renos. Why do you think the project can really differentiate compared to many others ?
While we have just began our journey, we do hope to begin to stand out from the crowd in the coming months. Our first release will focus on the setup of masternodes and voting system. We will have some extra tools and features coming out in due time to help begin to differentiate us and also to incentivize holders of our token within the community. Our main differentiator is the fact we will be community driven. We will both take suggestions and suggest paths of progress over time and it will be up to the community to tell us what THEY want. Our direction will be completely shaped by the community. We do have some long term goals, but it will be up to the community in the end if they also share these goals and where in our development do we choose to tackle these projects.
After 2 months of living how does the project work today. Financing, projects managements, development.. How many people work on it and how many developpers are involved?
2 months into this project we are already farther along then we thought we would be after 1 year. We started off doing a lot of brainstorming and talking to our community. Once an initial direction was determined by our community we set in to action to make it a reality. We have had a few members who have stepped up to assist with things like marketing. We also ran a logo design competition which the community voted for. In terms of financing, it is a bit tricky. When you don’t “Crowdfund” your expenses can come from 2 places. Your pocket or the development fund. Not all services we require took RNS at the time, and in our infancy we did not have many buys in our order books. To avoid killing our currency before it even began we did take a bit of our own money to expense some of the initial things we needed. We are in a much better position today, but are still very cautious when it comes to spending from our development fund. In total right now we are a team of roughly 5 people, 1 of which is the developer.
Do you intend to recruit new people for the project? If yes, what are their expected profiles?
Moving forward we may look to recruit additional help, these decisions will be determined based on what path we choose moving forward. In the short term, we feel we are more than capable with our current team.
What are the main objectives of Renos for 2017?
Our main objectives are first to complete the roll out of our first major update. From there we plan to push out our whitepaper in the next month or two giving a more detailed description of our stand on community, their involvement, new ways to engage them and a general direction we look to head.
What is your vision for Renos for the next 5 years?
Our primary goal would be to grow our community. To continue to surpass others in the ways we deal with them, take their contributions and make it a reality. We want this project to not be something you invest in and sit back and watch. We want to make it more engaging like a Choose your own adventure style project you actively contribute to and help grow. We want to find ways to incentivize our community to help grow the community. To build the tools and features they want. That they feel are important to them.
Do you plan to change your internet site as far as the wallet is concerned? Wallet more user friendly etc…
We have updates to both our wallets (Windows & Linux) and a new website underway. The financing is very important for the development and for the employment of a team.
How is Renos is financed today? What will be its economic model tomorrow? Will the masternodes be a way of financing your project as well as the community?
Renos is currently financed partially by our development fund as well as from our own pockets. As we grow our development fund will go a much longer way then it did in the beginning and hope to use it in combination with our money sparingly to move forward. The Development fund will also be held in masternodes to help the network. We will be using these staked coins for both funding things as well as giving back to our community with tips/giveaways etc.
What are the technical features of Renos?
Our new codebase will be X11 based off DASH. It will run many of the same features, encrypted messaging, anonymous transactions. Etc. We also have a few things in the works that aren’t part of the wallet but will be capable of running based on how many RNS you hold.
Have you planned to implement an anonymous payment function in Renos?
Yes we will have anonymous sending in Renos
You seem to have a community spirit and you are very active on bitcointalk. How do you intend to develop the Renos community?
By any means necessary. We have developed our own telegram app, we have a slack channel and are currently pretty active on twitter. Between the release of our upcoming update and the next, our main focus will be driving engagement with our community. While we may be the team who help coordinate the coin, their say in it is just as valuable as ours. They will tell us what they want, what they feel will add value and drive growth. When at the end of the day it is the community member/client that has purchased/acquired your coin who matters. That is who we will listen to, and maybe in due time others will pick up a similar model.
A lack or a bad governance can cause problems on the cryptocurrency projects. How do you intend to develop your governance?
Our governance model is heavily based on community input. We strive to continue developing more channels and methods of accepting community opinions and contributions. They will govern based on what they see as being important to them, the community and their investment.
You decided to implement some masternodes. What is the reason for this choice? Is it a technical , a governance or a technical reason? Another one?
The masternodes were a community driven decision which we are making good on. It was the first example of how our governance model work and will continue to work. They decided that masternodes were something they wished to have, and they decided the amount at which they wanted to set them at. The additional technical advantages to this codebase over our past is also significant.
The number of masternodes is very important to get a good balance between security, scalability and decentralization. Why did you choose the number of 100000 for the masternode?
It was a community decision. We heard suggestions in our slack and telegram channels. Many were for around 100k and some were for other values. As a jumping off point we polled to see if they wanted 100k or if that was either too much or insufficient. Had anything other than 100K won the poll, we would have polled a second round of values to further drive down to a community decided number. We understand that the number of masternodes can determine a networks security and decentralization. We felt that at this early stage in the project that a possible max of 340 masternodes would be sufficient.
What are the most important factors to create a long term crypto currency project?
Stay relevant and standing by your community. Coins will always come and go but at the end of the day keeping your community engaged and always be working towards the next project is all you can do to stay alive. The crypto space while exciting and fast, can also be extremely cutthroat. You can fall from relevancy fast. Big projects that take months and months to complete can seem like an eternity in this space. Not that we don’t plan to take on any big projects in the future, but you have to keep something going during this time. Radio silence will cause your community to slowly die off from boredom.
Which projects do you like the most among the crypto currencies? Why?
I am a fan of many projects in this space. I am not looking to shamelessly plug them and my statement of being a fan of their work does not constitute a declaration of investment in said projects. But if you are curious. I am a personally a big supporter of ETC, NAV, DTB, SRC, WINGS, STRAT and RNS obviously.