Post
Topic
Board Altcoin Discussion
Re: PPCoin Criticism / Security / etc
by
cunicula
on 27/11/2012, 16:21:19 UTC
Looking at the code, it seems to basically be solidcoin without maybe only one master-node instead of several master-nodes.
The PoW does nothing but generate currency. It doesn't try to secure anything. I have no idea how the master node works.

I tried to hack out all proof of work nd all checking of checkpoints but then both sides seem to wait for the other to start saying something.
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As I understand it, the proof of stake relies on the proof of work to generate time stamps. The timestamps are then used to iterate a random process which allows stake generation. Unless proof-of-stake can also generate the timestamps, it might be necessary to leave proof-of-work in there to get it to run. If so, perhaps reduce the block reward to some trivial amount. There also is some management of the proportions of both types of blocks that would need to be adjusted to pure proof-of-stake.
 
So possibly it won't even do anything until it gets a go-ahead from the solid node or something.
Hmmm. remove that part?

Since without proof of work blocks coins have to come from somewhere, I set the minimum reward for a proof of stake block to one coin.
Fine by me. One coin is pretty trivial.

The fact they won't even talk to each other is nasty though, it seems to imply that there is expected to alredy be something out there to get and that someone you connect to will push it at you.
Can you reinsert bitcoin code that facilitates communication?

Cunicula it does seem likely you are correct that the whole proof of work thing is only there to provide an excuse for being controlled by the solid node(s) in the usual solid central control style system we have seen so many times before. I did try to put into the counting up of coin ages  max of 90 days per each coin it found.

Maybe my problem is there is no coin-age initilly so maybe it does not try to make a stake block thus does not get the free minimum one coin reward for making a stake block. i might have to make it always have one coin's worth of chance to try, or something, in the case where it has no coins initially.

An incentive to be online is for transactions to get processed, since with stake blocks being the only blocks no transactions will go through unless at least one node stays online long enough for a block to get created; and maybe also the less people who are online trying to make a stake block the longer it maybe might take for one to be made. 9that one lone person who made one maybe used all his coin-age so needs 90 days to recover... so initially it might need at least 90 wallets to have been created in order for one block a day to be able to be made...)

-MarkM-
My only comment on the rest of this is that I do not believe that it is completely a SolidCoin master node style system. There is underlying code underneath which may work.