Coalition Congressional Note

The Coalition Congressional Note (symbol: ᑕ, code: CCN, also abbrev. ᑕN or Coalition note and also simply referred to as the note) is the official currency of the Coalition of Congressional Republics and its subordinate Republics. The Tellus Protocol of 2246, following the end of the Corporate Wars, laid the groundwork for the rise of the Coalition note through the reorganization of the Coalition Central Economic Reserve (CCER) and the construction of the PLUTUS blockchain. Through PLUTUS and its proof of merit system, the Coalition note has become a decentralized cryptographic currency, where the Tellus Protocol stipulates that its creation was accomplished to "create a fair and private currency for all citizens". Due to its nature as a decentralized cryptocurrency, however, megacorporations have also profited endlessly from its privacy measures. Economic security and control is ensured by the Coalition Central Economic Reserve, which is overseen by the General Congress of the Coalition.

Tellus Protocol
The Tellus Protocol contains stipulations that the Coalition of Congressional Republics must create a currency that would "minimize governmental oversight of legitimate commercial affairs and transactions between private entities". Due to the necessity of privacy for the newfound currency, this led to an assembly of government and corporate economic commissions that agreed to abandon both fiat currency and resource standard currency, and in turn approve the creation of a system that would maximize user privacy while remaining stable and scalable to Coalition and corporate economic growth - a decentralized cryptocurrency.

Etymology
The term "note" was conferred onto the currency following its creation in 2246; however, unlike banknotes of earlier history that existed as negotiable promissory notes, the new etymology for what would become the Coalition note came about due to the induction of the PLUTUS blockchain. Thus, the term "note" now became symbolic for the transaction data encoded onto PLUTUS blocks.

Nicknames
The Coalition note carries a plethora of nicknames throughout the various cultures and societies that exist within the CCR. However, several nicknames remain dominant in everyday language, including English examples such as bucks, digibucks, cobucks, congbucks, co-notes, blues, bluebacks, and collies. Terms such as blues and bluebacks refer to the physical forms of notes, which take the form of semi-blue translucent polymer notes. By denominations for both digital and physical notes are the following examples in English (and English-related dialects or slangs):


 * <1 note — subs, minis, unless specified (ex. 0.25 notes is referred to as a "quarter").
 * 1 note — single, buck, byte, one.
 * 2 notes — double, duo, duet, two.
 * 5 notes — penta, hand, five.
 * 10 notes — deca, ten.
 * 50 notes — penta-deca, half-hundo, fifty.
 * 100 notes — hundo, bill, hundred.
 * 1,000 notes — grand, kilo, block, large, thousand.
 * 1,000,000 notes [digital only] — milli, stack, mega, million.

Block-to-note ratio
Relative to the PLUTUS blockchain, it was ruled by commissions that led to the creation of the note that one block would encode a transaction of one thousand notes when mined through its proof-of-merit system, yielding a 1:1000 fixed ratio. Since an endless amount of blocks can be created on the PLUTUS blockchain, this ratio is not seen as needed to be edited - to control inflation of price in regards to endless block creation, the CCER has been reserved the right to maintain this ratio at all costs through its majority stake in the control of the blockchain (~51%) and thus ability to form forks that would control rampant blockchain extension.

Note sign
The official note symbol, ᑕ, originates in computer usage from the transcription of the Canadian aboriginal syllable of ta. However, its common online usage as an enlargened "C" when referring to the Coalition after 2077 eventually rose enough in popularity for the government to consider and adopt it as a stand-in for the words "Coalition" or "Congressional". Thus, with the advent of the Coalition Congressional note in 2246, all systems and exchanges that displayed shorthand symbols for currencies adopted this symbol for the note.

Technical aspects
The Coalition Congressional note derives its value from the first layer of the PLUTUS blockchain platform, which functions as a medium for all transactions. This is accomplished through a novel proof of merit mechanism, which was created to ensure additional security measures for the blockchain platform in the advent of novel cybersecurity threats in addition to allowing for scalability to predicted growth in public and private economic sectors.

Proof of merit
Proof of merit is a type of protocol used in the PLUTUS blockchain. A hybridization of older proof of work and proof of stake protocols, it seeks to add additional security through weighing in the merit of the prover (or miner) and the merit of the validator (or node); merit for each is defined differently.

Prover merit
Merit for the prover, or miner, is derived from hardware and software identifiers that is factored into the inevitable block that is added to the PLUTUS blockchain. If the prover has the appropriate level of hardware and software for mining the block as compared to the size of the stake of the validator, the merit for the prover is confirmed and the platform moves to check the merit of the validator. If the prover does not have sufficient software and/or hardware for mining the block as compared to the size of the stake of the validator, the addition of the block to the blockchain will not go through.

Validator merit
Merit for the validator, or node, is derived from the amount of notes that they have set aside as a stake. They must have a minimum stake relative to the size of the overall blockchain (estimated to be within the trillionths of a percent) in order to initiate a proof of merit process or else the validator will fail and the addition of the block to the blockchain will not go through.

Even so, the larger the stake of the validator is relative to the size of the overall blockchain, the easier it is for the prover (or miner) to mine the block and thus need a lesser hardware and software requirement. This is because the mining of the block for the PLUTUS blockchain is a simultaneous bilateral verification process between the prover and validator, and provers are encouraged to interact with validators that have higher stakes versus validators that have lower stakes.

The current largest validator in the Coalition is the Coalition Central Economic Reserve. This was outlined in negotiations for the construction of the PLUTUS blockchain due to the necessity of the government to check corporate influence in regards to the blockchain's validator stake control. The CCER currently owns a stake of 51% in relation to all notes currently in circulation within the Coalition, and has an undefined margin of growth possible to extend that stake in defense of corporate encroachment onto controlling 51% or more of the blockchain.

Economic proliferation and viability of the PLUTUS blockchain platform
Due to the proof of merit system and other security strengths integrate into mining and validation software, PLUTUS has become the backbone of the Coalition economy. The real-world viability of the note through its PLUTUS blockchain arises due to its universal acceptance throughout the Coalition, the pegging of other currencies onto the note, and the immutability of the central PLUTUS blockchain to large-scale forking due to the CCER's defined stake. Although forks of the PLUTUS blockchain exist (which has been deemed illegal since the CCER's establishment of dominant stake over PLUTUS) and thus alternatives to the note exist, their illegality and blockchain-control fragility has stopped any large-scale attempts to override the dominance of the Coalition note. These "alt-Note" cryptocurrencies forked from the original PLUTUS blockchain only exist in criminal or fringe corporate circles.

Privacy
Due to the nature of the Coalition note as a decentralized cryptocurrency, it confers an extreme degree of privacy and anonymity to its userbase and to every exchange that allows for note transactions. This deliberate privacy functionality, as forced onto the CCR government by participant megacorporations in the Corporate Wars, thus allowed corporations to conduct transactions between themselves, individuals, or subordinate companies without significant government oversight that sparked such wars to begin with. This obfuscation of megacorporate transactions thus allowed for the megacorporations to achieve economic security and control, with the government only having power over the megacorporations in regards to the Coalition note through the CCER's controlling stake of the PLUTUS blockchain.

For individuals, the note's functionality on the PLUTUS network also means that a high degree of privacy is conferred for even low-scale personal transactions. However, watchdog AI programs that patrol all legal digital exchanges prevent the abuse of the note in its conversion to illegal alt-Notes or through cyber attacks onto wallets.

Physical notes
Even though the note is propagated as a decentralized cryptocurrency, the Coalition government has nevertheless allowed for the "physicalization" of the note to be used by citizens in replacement of digital wallets. Although considered a "waste" by critics of the physical system, it has nevertheless seen popular usage in colonial systems due to their reliability of value even in the advent of disconnect from the Coalition hypernet from events such as coronal mass ejections, solar flares, and other stellar phenomena.

The value of each note in relation to the blockchain is conferred in unique cryptographic keys printed onto each individual note before dissemination from the Coalition Central Economic Reserve.

Use as a pan-Coalition currency
The Coalition Congressional note, due to its position as the sole legal tender at the Coalition level of government, is subsequently legal through all member sectors and Republics of the Coalition. In turn, it is the dominating currency for commerce and trade between Republics and between private entities, and subsequently serves as the medium for pegged currencies such as regional Republic currencies.