Will you please join me? Will you HELP MAKE CRYPTI THE FIRST CRYPTOCURRENCY THAT CHARGES ZERO FEES?
Sorry, but with 0 fees you will soon have a blockchain size of several terabytes, as we don't have spam countermeasures. An Odroid can't run this.
... transaction fees exist to prevent, minimize spam. With no fee the blockchain can be flooded with no cost and it can grow huge in no time.
The blockchain is bloated anyway, even without transactions, because of the constant block generation even if nothing happens.
D'oh. Silly me.
So the real core problem with blockchain technology is bloat and spam. Therefore blockchain pruning MUST be implemented, which is (along with zero fees) another feature that has never been implemented by any cryptocoin.
Any cryptocoin without blockchain pruning is destined to die eventually. Bitcoin is already seriously bumping into this problem after less than a decade. One day Crypti will too.
If the actual true purpose of a user fee is not to adequately repay node runners (which I maintain it can't / won't - I dare somebody to produce a quantitative analysis to the contrary) but instead to prevent spam, then what would it take to implement blockchain pruning? Instead of a bloated blockchain keeping a running history of every single transaction since genesis block, what is really needed is cryptographically certified current balances of all participants. Current blockchains provide an audit trail and that's what the bloat is. All that anybody really cares about is an honest, continually-updated balance sheet with everybody's name on it. Losing the audit trail along with the bloat would enhance privacy, which is definitely a feature, not a bug.
Is it possible to reduce bloat among 101 delegates by programming them to not generate a block until one is needed? No zero blocks until they are contacted by a client with a need to generate one? What's the downside of that approach?
Could the jump from 0.1.9 to 0.2.0 also come with a
temporary blockchain halt and recasting a new Genesis block with April 2014 members and their balances? Coupled with 101 Delegates programmed for
no generation of empty zero blocks and only casting a block when needed, this could make Crypti
the most efficient blockchain out there.
Let's take this opportunity to drop what bloat (past AND FUTURE) that we can, if we can.
I look forward to Crypti simultaneously announcing blockchain pruning and zero fees in some future update beyond 0.2.0.