Utilities
Virtue Utilities (VIRT)
Trade USD & Bitcoin for Virtue at the current market rate!
What iS Virtue?
Virtue is a digital economic model based on Bitcoin. It allows our clients to easily interact with developer resources and value as well as visualize and automate the transfer of value. Virtue is currently only sold via Kordspace, and can be purchased as well as earned by interacting with Kordspace held domains and applications.
What Can I Do WIth It?
You can use it to send valuable token utilities to friends of Kordspace, pay for Kordspace products, developer hours, or convert it into USD / Bitcoin.
Virtue: A Utility Based Economy
We find the most successful people are the most ambitious and motivated. Learn more about how to code for Web 3.0 and let us help you design a streamlined business model…
Virtue Let’s Us Build A Community & Reward Productive Behavior…
Refer New Business
Get a healthy commission on converted orders in our system. Earn tokens to redeem for development time & code modules.
Contribute & Earn Utilities
We know you're a content creator and innovator. Help us build the future by aiding in our efforts to source new partners.
Redeem For Dev & Merch
Spend your tokens on development time & merchandise from our shop. Suggest new items for us to make real!
How To Earn Virtue
Earning Virtue is simple. Just participate in the Kordspace community! We reward you for your novel data which helps us stay in business and grow. We also make it easy for users to enjoy rewards by engaging in our community forums via the Kordboard, or by learning and earning via our video tutorial content.
Watch Tutorials
View some of our helpful material and earn some credits towards funding your next project! We encourage our members to learn.
Refer Business
Fill out our referral forms or share your special Kordspace referral link to your friends to get larger utility rewards & unlock badges.
Comment & Review
Leaving your opinion is valued and helps others on their quest to learn more about modern web technologies. Comments reward extra.
Our Platform Rewards
5 VIRT
Becoming a member
Sending a private message
Clicking on a link
10 VIRT
Daily site visit
Updating your profile (new avatar, new cover photo, clearing notifications)
Submitting a Bitcoin wallet address form
Viewing posts, pages, forums, forum topics, forum replies, or products
New forum post or reply
Adding a forum topic to your favorites
Creating or joining a new group
Updating group profile (new avatar, cover photo)
Commenting on a group
25 VIRT
Watching videos
New comment on a member profile
Creating new forum topic
Submitting general contact, internships, or freelancer form
Posting (approved) comments on blog posts
Leaving a product review
50 VIRT
Daily log in
Sending a gift
Referring visitors via referral link
Submitting withdraw virtue form
Adding a new friend
Submitting a poll vote
100 VIRT
Submitting a potential lead through our referral form
What The FAQ?
Browse our FAQ category tab list below and learn more about the utilities that run Virtue…
Bitcoin
Utilities
Earning
Transferring
Withdrawals
Security
Suspensions
Alt-Coins
Bitcoin
Bitcoin is a Blockchain technology, meaning it has a ledger which is kept current as transactions occur across many nodes / computers around the world. For transactions to occur they are protected by powerful encryption hashing. The electrical energy expended to secure a ‘block’ or page of this global ledger is substantial enough that it gives Bitcoin credence as a commodity, or a manufactured result of energy expenditure and in that respect is unique and by some considered to be a means of trade or exchange.
Kordpsace uses Bitcoin to back it’s Lightning Network Layer 2 implementation. This means we can resolve Bitcoin layer 2 transactions instantly within our application as the micro-transactions are batched and posted to the master Bitcoin ledger. All transactions that occur using Virtue are eventually recorded in summary to the global Bitcoin ledger, as we maintain your user privacy and act as a custodian for the service exchange.
Bitcoin is worth approximately 7K – 8K in USD as of 2019. Bitcoin is a volatile commodity and can fluctuate by ranges of 1000’s of dollars in a few hours. Much of this has to do with the geo-political implications the technology has had, allowing foreign businesses and the under-banked to use more valued and accessible forms of currency in opposition to their valueless government issues currencies.
Bitcoin Lightning Network is a new Layer 2 technology for the global BTC ledger. It allows developers to form micro-transaction economies in their apps, which serves as an incentive to users to conduct commerce in an abstraction layer that has real value instead of just meaningless ones and zeros. Having a decentralized organization around a token helps to ensure your money is safe and is being dealt with fairly by the large group of major shareholders interested in the platform. Many layer 2 solutions are arising, this was due to the need for quicker processing times for blocks. Now large volumes of micro-transactions can be summarized and written conservatively to First Layer decentralized ledgers.
Layer 2 technologies have since resolved many of the scalability issues associated with DLT’s. By having additional layers, it enables businesses to utilize more functional tools for writing their data into commodity format. The most feasible use case for decentralized ledger technology resides inside the transportation management industry. By helping to build solutions that work for real businesses, technologists and futurists work together to form enterprise software of the future on decentralized ledger technologies DLT.
Bitcoin refers to the primary, irrefutable digital ledger that spawn the creation of encrypted Blockchains. Since then many Blockchains have been added, with different code methods used for writing Smart Contracts or conditions in which a payment may be allowed to be sent or fulfilled. Bitcoin Lightning Network is an auxillary project formed to help create scalable infrastructure for the legacy Bitcoin ledger.
Bitcoin is valued for many reasons and fluctuates unpredictably at times. It follows many of the principals that govern stock trades on Wallstreet, as well as general Supply & Demand economics. It is considered by some a commodity which has valuations that can be predicted based on the clientele it serves and when those clients decide to use the technology. The big thing to know here is that first, it is very difficult to create a stable Blockchain. We are fortunate to have many to look at as fine examples. You may choose to value this commodity based off its merit as an electrical byproduct, or based off the developer hours spent to create it, or by the people who trade it daily so that they can pay for things internationally. One thing is for sure, we now live in a society powered by digital assets.
Utilities
Currently, a single Virtue token is honored at the exchange of 1 cent ($0.01 USD) to the US Dollar through our Kordspace DOA. It’s value is determined based off developer rates, novel code, novel data, temporal availability, cloud service costs, & manufacturing costs. Virtue is a collection of smart contracts that run off of the Bitcoin ledger as a Layer 2 technology.
At the trade price of $8,369 USD for 1 BTC (Oct. 12, 2019), 100 Satoshis in Bitcoin is equal to 0.00833934, just shy of 1 cent ($0.01 USD). This means a Virtue token honored at 1 cent to the USD, is worth 120 Satoshis (0.00000120 BTC).
Virtue is a digital economic model based on Bitcoin. It allows our clients to easily interact with developer resources and value as well as visualize and automate the transfer of value. Virtue is currently only sold via Kordspace, and can be purchased as well as earned by interacting with Kordspace held domains and applications.
We like to think of tokens as being a term of the past. It mostly comes down to personal preference or semantics, but we find utilities to be a more fitting term for these classes of digital assets. Where a token can be essentially valueless if not backed by an authority, utilities more accurately convey the use of these assets. Utilities can be used to pay for digital results or virtual things, such as development time, people’s manufactured products, as well as serve as a good tool for counting who owes each other what. But it is only this unique utility that can be converted out for universal tokens such as Bitcoin & FIAT currency based on our valuation against the dollar & other traded commodities. We essentially fix our utility price to our organizational liquidity.
By earning Virtue you can exchange it for many useful things. This includes 3D objects, t-shirts, printed promotional materials, documents, code modules (FaS), and developer time. Our utility can be used to help you develop your business and by holding enough Virtue, we reward air drops for your loyalty. Holding Virtue helps the organization function and builds value behind the business. This value can then be shared.
Our team of talented professionals at Kordspace routinely audit ledger balances and rewards to ensure users are not exploiting systems to gain unfair advantages against other members of the economy. Right now, Virtue functions as a type of Decentralized Autonomous Organization, which allows it’s users to determine patch requests and vote for additional features to be added to our internal wallet.
If for some reason a Virtue transaction has resulted in tokens being removed yet someone has not received payment, be sure to check the username was typed correctly. Once transfers are initialized they are difficult to balance and reverse and require investigation from our team of experts.
Please ensure that before you transfer all forms are precisely correct and case correct. While buying Virtue utilities users may use bitcoin, credit or debit cards to complete the transaction. Once finished the utilities will immediately appear inside the user’s Virtue wallet, under their logged-in account. If for some reason the tokens do not appear, please submit our contact form and someone will be immediately in touch to look into your issue further.
All utilities once accumulated by a user can be redeemed at any time once the user has reached over 2000 Virtue = $20 USD past the exchange cap. Processing amounts less the $20 for FIAT or Bitcoin is not offered, since it would discourage people from using Virtue internally to transact. Redeeming virtue for products / services under $20 is permitted.
Virtue is currently not a fully decentralized platform. But we are working towards embracing more decentralization as we continue our development. We currently act as a custodial service for transacting on Layer 2 for BTC Lightning Network. We do not deploy independent Smart Contracts for each individual user, we only resolve primary platform transactions to a BTC Lightning Network node which writes to the Bitcoin ledger. Surprisingly having these layers allows us to silo data efficiently and decrease transaction processing times while allowing us a means to test and secure network events.
Earning
You can easily earn Virtue utilities by reading our articles, viewing our video tutorials, assembling our code implementation kits, and referring others to join the Kordspace platform. Many actions result in higher utility rewards for any given work to be performed. Submitting survey information & business intelligence data is rewarded at a higher rate than page views or comments. To see a full earnings and rewards rank guide / badge breakdown, check out the earning page here.
You can easily access your Virtue wallet by first logging in, then navigating to the account drop-down menu and clicking “Wallet”. You can create or view your account here.
You don’t need to be a developer to be able to earn Virtue. You can actually be anybody, and start working with us from a distance. If you like what we do and what we produce, reach out and ask us about building your next project. Our goal is to encourage people less familiar with technology to use our platform to book all their development tasks as well as just making dreams come true. By becoming a member you help us get steps closer to a better Kollaborative economy and community.
Yes, you can redeem Kordspace tokens for merchandise in our store. We will be sure to keep stock current as well as add all you new and interesting special requests as you ask us to. We know that all ideas are great and when properly executed produce tremendous value for smaller groups and individuals.
The most rewarded actions are referrals and data intelligence information. These are our fuel and keep us busy building new and outstanding projects. We plan to offer incentives to users who help grow our efforts and our community by inviting us to work with their peers.
Redeeming Virtue for monthly project work is easy. Simply possess enough Virtue to exchange for one of our code modules or physical goods and we will ensure you get your item shipped and delivered shortly. Our merch is only available in the USA where as our kits are available for download. Projects are billed at a flat monthly rate and require an investment to be made and an on-boarding form to be filled out with the requested technology to be delivered by end of the pay period. It is not possible to redeem a portion of the cost in Virtue vs USD. The transaction must be completed with the total requested USD amount or its equivalent in Virtue to be valid.
There are many ranks rewarded for holding Virtue in your platform wallet. The ranks may fluctuate based on what is currently held in your wallet. Spending those utilities past thresholds will result in a demotion of rank unless resupplied by purchasing more Virtue. Ranks are a fun way to communicate your level of involvement with other members without divulging exactly how much Virtue you’ve accumulated.
By performing certain tasks consistently or reaching a certain number of page views, you may be entitled to receive badges which reward bundles of Virtue tokens, but can only be achieved once. After unlocked, the user will possess the badge and the sense of accomplishment along with it.
Transferring
By navigating to your Virtue wallet, you will be able to click the first tab at the top of the screen for transfers. Fill out the other persons username into the field and click send. The tokens will not send if a user is not found in the database with that name and will return an error. Be very careful to properly type in another member’s username. Mistyping the username could result in tokens being transferred to a user with a similar name if spelled incorrectly.
If you meet Kordspace member that develops for us, feel free to pay the developer directly for services unrelated to our Kordspace core development team. That may be for tasks such as having a team member build a specific function to fit a given context or use case. This is what Virtue was designed for, to enable members to be able to meet, exchange and trade via our digital community.
Virtue ledger transactions are instantaneous and should finalize within seconds. If you have an issue with a Virtue transfer, let us know via our contact form here.
Transfers may be disputed to your Kordspace core developer team which will moderate the reversal of any transfers on a case per case basis. For a reversal to occur there will have to be apparent proof of a network communication issue, or of malicious intent.
Transferring utilities, assets and value within the Virtue platform is free.
You can see other peoples usernames and profiles from their posts on various articles, via leader-boards for utility holders, as well as by searching for their profile via the profile search page. Also, try just asking your friend what username they have…
Yes you can. Please keep in mind that by making multiple accounts and mining page views, we will be able to determine any exploits based on the reward blocks and log records. Attempts to fool our systems will result in suspension of your account and confiscation without reimbursement, of all fraudulently mined Virtue utilities.
Withdrawals
You can withdraw virtue by purchasing USD from the exchange. The exchange will have quantities and limits applied to each withdrawal type and will confirm there finalized transfer within 24hrs of scheduling. After initializing the Virtue redeemed withdrawal / transfer, you will be redirected to a form with information we would require to complete the transfer.
You can purchase Bitcoin from our exchange section using Virtue tokens you’ve acquired. After the transfer is initialized, please fill out the Wallet address you wish to send your converted utilities to. The amount of Bitcoin being sent will be returned to you as an email receipt notification of the pending transfer. Transfers take up to 24hrs to deliver, please reach out if you are experiencing longer than usual wait times.
Any type of withdrawal for Virtue to USD requires our staff to review the transaction and approve it. During this time we may review documents you’ve submitted to us to identify you for tax related concerns & transaction information. Should we need anything additional, a representative from our team will reach out to you via a secure Kordspace email address.
The withdrawal increments are designed to keep our utility based economy alive and flourishing. By having minimums before transfer, we can encourage users to earn or transact to meet the requirements. This is a decision that was made collectively by our DOA, and is supported by many other enterprise platforms.
Our system may flag your withdrawal based off of the ledger logs. If you have received an abnormal amount of system tokens without actual spending being tracked for any of the tokens, that is a primary indicator we look for in assessing account or platform abuse. We take security seriously and use criteria specified in our terms of use agreement to determine the validity of withdrawals.
We encourage people to cash out their Virtue if the circumstances are right. Otherwise there are many reasons to hold Virtue, some of which include access to exclusive code kits & tutorial videos etc… Our rank system will allow access to information within the platform and hereby encourage users to hold Virtue. For Virtue held in wallet, we reward monthly via Virtue AirDrop.
Security
Virtue tokens are kept secure by our team of security specialists as well as by Google Cloud encryption. We host all our systems securely via SSH with no FTP access. We also only run apps inside the Google cluster to communicate our vital information. All payments are performed through PCI compliant gateways including PayPal and abide by Know Your Client Laws (KYC).
Virtue is our internal utility system used to track batch transaction for the BTC Lightning Network & is an implementation of Layer 2 technology. It is not considered to be a cryptocurrency transaction ledger at this time but relies on Bitcoin ledger to convert earnings. We are not involved in the issuance of token sales with any major exchanges.
Virtue uses an integration of Bitcoin Lightning Network and therefore Bitcoin by extension, to sell tokens and to provide users with their conversion withdrawals. We are closely connect with those in Bitcoin Lightning Network Core Development and are very excited about what Bitcoin Lightning Network has in store.
Virtue is more centralized than larger Blockchain platforms since it is moderated by a small development team and is based off the BTC Lightning Network. We are enthused about building more decentralized versions of Virtue, perhaps eventually developing a private chain, while maintaining everyone’s data, achievements and rank through the transition. By supporting us you are helping developers to improve the technology. Kordspace team is primarily responsible for maintaining the systems as well as some of our larger partners for our industrial projects.
We currently visualize our platform interactions using Google Data Studio, and are able to monitor token heritage across user transfers as well as many other helpful auditing features. Virtue is primarily a test network honorary solution for our collective of clients and fans. Our alerts are currently set as event listeners to some custom admin panels we have to visualize user accounts which is an additional system on top of Google Cloud Platform metrics, & WordPress FireWall, Captcha Forms, & IP Address Blocking.
Most of the protocols were invented by early computer scientists but have been installed by Kordspace Cloud Engineers. We take pride in the security of our systems and build on decade old traditions for maintaining permissions as well as a clean and segmented code base.
Suspensions
Accounts are suspended as a result of misuse on the system. Reasons for account suspension would be as follows:
1. Double earning using scripting or other malicious methods.
2. Spoofing transactions and deploy malicious code to manipulate the outcome of a transfer.
3. Scamming users within the platform via the comment boards.
4. Spam & Malware related concerns.
5. Fails to follow our guidelines and the general terms of use agreement. May be displaying inappropriate content to other users.
Any actions that may indicate that users are not willing to abide by general terms of use, will be met with immediate & decisive suspension.
Suspended accounts may submit a request via our general contact form to have their specific username reviewed and qualified for reactivation. Please submit a letter to us explaining the circumstances of the suspension and we will take time to review you case file within the month and determine eligibility on a case by case basis.
The Kordspace DOA currently determines regulation on account suspensions and their eligibility for reactivation.
You can expect to hear back from us regarding account reactivation within a month (30 days) of your request submission date.
Accounts with no activity will never be deleted or archived for any reason. Although we may contact you to see if you are happy with our services.
Alt-Coins
We are actually Ethereum project contributors and have put together some of the kits required for building basic wallet functionality off of ERC-20. Our next projects include using some of the new forms of Ethereum minted tokens to gamify our React & Flutter apps.
Monero is a privacy coin that maintains decent following among developers and hackers. In the past some of our work has involved the Monero CoinHive API, for mining Ethereum in the browser. This was later determined to be somewhat taxing on devices and is currently one of our moth-balled projects.
We have deployed Ethereum DAPPs to test net environments as well as used TRUFFLE to integrate with React. Some of our newest projects will utilize these frameworks we’ve assembled but are currently in development and not for open discussion.
Bitcoin is the king of crypto. We don’t see that changing anytime soon. We love the development potential of Ethereum, but we know that the future will always reside in Bitcoin, since it was the first to prove how helpful and valid digital asset economies are.
We think anyone should be able to issue and honor an internal credit system. It is hard to fathom this has anything to do with the technology and instead has more to do with politics. We think there is no preventing digital based asset economies from forming, and that some level of regulation will need to take place for consumers to remain protected against the so called “wild west” that is the Internet.
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