Im very excited to be working on implementing my ideas on xpb! After discussing my whitepaper with xpbcreator, weve decided to roll out the implementation in four major phases, one of which wasnt mentioned on the whitepaper. I recommend reading the whitepaper before this post if you want to follow along. The four phases are:
1) Delegated Proof of Stake
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How many coins are going to be mined before DPoS is implemented and all mining rewards are stopped? It would be nice if there's an announcement 60 or 90 or 365 days before the switch is made. Also, the sooner the switch is made (with little to no time before announcement), the more this coin will be tainted as short PoW period with relatively few miners before switching to (D)PoS.
We're planning on switching to DPOS in a few weeks. But the important question to ask is not when DPOS, but why? For the why, see my earlier post from March 25th. Basically, the new contract features wont work properly until DPOS is working properly. Since the new contract features is what will draw interest in the coin, it doesn't necessarily make sense to wait some arbitrary amount of time before switching over. We prefer to get the new features up sooner rather than later.
Any idea how many delegates are going to be used for DPoS? Follow bitshares model and have 101? Are there even 101 people mining this coin at the moment? I'm not a fan of bitshares because of the small number of delegates that control the entire network, but it seems like if the switch from PoW to DPoS is made soon for pebblecoin, then there will be a much smaller number of people than 101 validating each block and reaping all the rewards.
There'll be 100 delegate slots, similar to bitshares. XPB pointed out why theres good reason to believe there'll be enough interest. If there are fewer delegates then anybody can sign up to be a delegate and easily (with zero votes) get rewarded for securing the network, just like with proof of work when there isn't a lot of hashing power.