Post
Topic
Board Development & Technical Discussion
Re: idea to solve scalability problem
by
whizz94
on 25/03/2016, 18:18:43 UTC
look up "coloured coins" and "extranonce".  I think you'll find that in an evening longer than it takes to unwrap a shiney new asic miner, plug it in and start mining ordinary BTC, you could instead set to mining your own "coloured coin" distinguishable from others by an extranonce chosen by you in every block, and a 2016 genesis block started by you.  The unsolved problems are:
- how do other remote users know whether to trust the unauthenticated binary which you say to them does N-BTC tokens for your business empire
( miner and wallet applications both exist ) 
- what happens if your exchange between BTC and N-BTC goes down for a while ?
- is your exchange one-way "buy tokens here" or the fairer sounding two way trade which gets pounced on for arbitrage gains ?

N-BTC probably is not quite the best for small quick transactions; see how you go with looking at other altcoins.