I suggest the fork do at least the following three things:
1) Stop all PoW generation.
How would you solve the fairness of initial distribution problem, without POW?
You can buy the currency if you want to invest in it. You can give it away if you want to promote its use. At the outset I would have supported the infamous premine coupled with bounties to get stuff done. PoW generation is not doing much to promote adoption these days.
2) Remove centralized checkpoints.
How else to protect a nascent blockchain?
The reason the checkpoints are necessary should be because of PoW generation. I hope that's the reason.
If not, we need to know what these checkpoints are for. We can't find out as long as they are there and no one tells us.
3) Cap interest accumulation at 90 days. [Incentive to keep node running is much too weak right now.]
I thought that this is implemented:
CBigNum bnCoinDay = CBigNum(nValueIn) * min(txNew.nTime-pcoin.first->nTime, (unsigned int)STAKE_MAX_AGE) / COIN / (24 * 60 * 60);
STAKE_MAX_AGE is set to 90 days.
This is for coin generation. Not for the amount of interest you are paid. PoS security is directly proportional to the amount of coin-age currently on line.
If I don't earn more by being online often, then there is no incentive to come online. Instead I can just hold my PPCoin until I want to cash out.
Then quickly generate my stake block and sell. This does do much to secure the network at all. I should be generating many stake blocks to earn my interest, not just one.
The cap ensures that I have to come online at least once in a while.
Inclusion of PoW also defeats the point (it is like PoS but also incorporates the implicit fees and waste of PoW).
waste is an issue. However, what's more important is network security. So introducing PoS is a significant alteration in the resilience level.
I think waste is a big issue. To me, PoS schemes are attractive because a) they are secure b) they are efficient and cheap.
Efficient and cheap means no PoW inflation tax and minimal txn fees.