Re: [ANN] NeuCoin - Easy to use, free to try, focused on micropayments - Official
Kourosh says,
"The reason behind this is that we arrived at the same conclusions than BlackCoin on our own (especially concerning the modification of the stake modifier). It's only after we had decided to have it "floating" that I actually realized this was one of the modifications BlackCoin had made in its previous update."
So the "floating stake modifier" (which Blackcoin already did at least 6-12 months ago) is their big innovation.
(I don't think it really counts as an innovation if someone else did it prior.)
And if the Neucoin team never heard about it before as they claim, how big of an innovation is
it really? Why wasn't there a clamouring celebration in the crypto community when Blackcoin
first published this "innovation"?
I'll tell you why.
Because its really just another method of choosing who gets to forge the next block.
How's is it fundamentally any different from, say, Nxt's generation signature parameter?
Doesn't that also solve any precomputation issues? Isn't it basically the same thing?
Certainly it doesn't "stop all attack vectors" as the basic stake grinding is still
possible even if precomputations aren't.
EDIT:
The NXT Whitepaper says this:
Quote
Since any node can query the effective balance for any active account, it is possible to iterate through all active accounts in order to determine their individual hit value. This means it is possible to predict, with reasonable accuracy, which account will next win the right to forge a block. A shuffling attack could be mounted by moving stake to an account that will generate the next block, which is another reason why a Nxt stake must be stationary for 1440 blocks before it can contribute to forging (via the effective balance value). Interestingly, the new base target value for the next block cannot be reasonably predicted, so the nearly-deterministic process of determining who will forge the next block becomes increasingly stochastic as attempts are made to predict future blocks.
It seems the implementations are different, but the result is the same. You won't be able to "precompute" anything longer than 1 block.