Chronos – FIRST PROOF OF TIME TOKEN Whitepaper
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Time is immutable and irreversible. Time exists, it is value. Time is equally used in nature and artifice; however, its distribution among humans’ life is unknown and unequal. Its total supply is unknown. Throughout the history of mankind, man has assigned value to a variety of objects and concepts including food, shelter, resources, gold, fiat money & even cryptocurrencies. The value of each often fluctuating depending on fundamental & psychological factors. Traditional currencies have been pegged to gold, other currencies or even nothing. The first generation of cryptocurrencies have been based on the concepts of mining & staking. In reality, true value is time. Unlike other resources that can be gained & lost including all of the above objects & concepts, time is the only asset which cannot be regained. Once lost it is lost forever. It cannot be gamed and although the exact supply of time is ultimately unknown it is the scarcest resource of all.