Post
Topic
Board Altcoin Discussion
Topic OP
My ideal cryptocurrency
by
hazek
on 27/02/2013, 21:25:16 UTC
There is no question Bitcoin is an ingenious innovative technology but there also is no question that despite it's brilliant design it still has issues that can be improved upon. What I want to do with this thread is to make an appeal to savvy developers who would like to make a name for themselves to take the Bitcoin code and improve upon it and come up with a serious Bitcoin competitor. I would try to do this on my own but I'm not a dev so this is the best that I can do right now.

First my ideal cryptocurrency is built upon the same principles as Bitcoin. Don't change anything aside maybe a few parameters (max coins, coins per block, blocks per min..), but never the rules. It needs a limited supply issued at a predictable rate and it needs to be as decentralized.

Second it needs to solve or at the very least significantly improve the 51% vulnerability while keeping the proof of work mechanism. I know it can be done, someone clever enough just needs to figure it out.

Third it needs to solve the scalability issue with a prunable yet just as secure blockchain.

Fourth it needs to set a fixed relationship between fees and the block size making sure there will be enough collected to serve as an incentive to secure the network before increasing the capacity.

Fifth.. call it something without the word coin in it.  Cheesy


That's it. If you can develop that it I will certainly switch to it and advocate for it just as hard as I'm advocating for Bitcoin right now.