Post
Topic
Board Announcements (Altcoins)
Re: [ANN] NeuCoin - Easy to use, free to try, focused on micropayments - Official
by
scam confirmed
on 02/07/2015, 14:08:03 UTC
coin age is a broken idea too.

I don't deny it. Sunny King is well aware of it's problems:

Quote from: Peercoin whitepaper
"One  of  the  disadvantages  of  using  total  consumed  coin  age  to determine  main  chain  is that it lowers the cost of attack on the entire block chain of history." ... "Another  concern  is  that  the  cost  of  double-spending  attack  may  have  been  lowered  as well,  as  attacker  may  just  need  to  accumulate  certain amount  of  coin  age  and  force reorganization of the block chain. To make commerce practical under such a system, we decided to  introduce an additional  form of checkpoints that are broadcasted centrally, at much  shorter  intervals  such  as  a  few  times  daily,  to serve  to  freeze  block  chain  and finalize transactions." ... "Although  the  broadcasted  checkpointing  mechanism  is  a form of centralization, we consider it acceptable before a distributed solution is available."


Blackcoin doesn't have a solution but a different approach (changing stake modifier) which might improve security:

Quote from: Blackcoin whitepaper
The proposed changes are intended to improve security in BlackCoin’s  PoS  protocol  and  were  made  with  optimization in  mind.  With  the  new  protocol  possible  attack  vectors  are reduced to a minimum and the incentive to support the network by having a full node running continuously is clearly increased.


The following is dishonest:

Quote from: NoKoin website
The NeuCoin whitepaper addresses all the cryptocommunity's 'nothing at stake' objections to proof-of-stake and demonstrates mathematically how NeuCoin's design - with improved security over previous proof-of-stake implementations - foils all attack vectors.