Hi
I am playing with the idea to do a DASH (former Darkcoin, former XCoin) relaunch.
I think they have pretty good tech, but the instamine bothers me. I sold all my DASH in the recent months with a loss.
But I still like the tech of the coin.
Reason for the relaunch?
1-The instamine: some evidence is floating around on bitcointalk that Evan and some of his friends started XCoin to benefit from an intentional instamine. This isn't a fair distribution
2-The masternode threshold isn't fair. I would give everyone the opportunity to set up masternodes and receive a reward for doing this. Also everyone will be able to vote based on the number of coins they own.
I wanted to gauge interest in this project.
Currently I'm thinking of these specifics for XDC:
Hashing algorithm: X11, the same as DASH
Seems to be a logical choice, so we can compete for hashing power with DASH
Name: XDC, which can mean different things:
-A reference to X11, the hashing algorithm
-Digital/decentralized currency/cash
-Even DarkCoin is a possibility
It will have the benefit of starting with the international currency symbol "X"
What do you like best? Please leave your comments below.
Emission:
No instamine or premine. I suggest 21 million coins with the same emission curve as BTC.
It doesn't really matter how much coins would circulate. But if you have other opinions, comment below/
Block time:
Maybe 2.5 minutes? Please comment below
Mining reward (new coins + fees):
45% For miners, 45% for masternodes, 10% for the decentralized budget (same as DASH)
These 10% will be added to a special address that can only be unlocked by the voting by the coin holders.
If you have other suggestions, comment below.
Governance:
Everybody can ask questions to the network. Everyone will be able to vote with his/her coin holdings. (51% of votes is enough to pass a proposal)
The decentralized budget will only be unlocked if 51% of the coins in circulation vote yes on a budget proposal. (Dash only requires 51% of the masternode votes)
This is more fair than DASH. Not only masternodes vote, everybody can vote and a bigger consensus will be needed for the budget proposals.
Masternode tasks:
-running a full node
-locking transactions
-mixing coins
If you have other suggestions, comment below!
I want to make this a community effort.