Post
Topic
Board Announcements (Altcoins)
Re: Slimcoin | First Proof of Burn currency | Test v0.5 release candidates
by
d5000
on 24/08/2017, 21:58:11 UTC
Some projects have simple ideas easy to understand for everybody. Like Part devs is working on decentralized market inside the client, with anonymous transactions. Decent distributes content. Iota targets IoT.
Most of the features many cryptocurrencies present as their achievements are features that are relatively simple to implement, and because most cryptos are open source, they can even be ported from other cryptocurrencies.

With Slimcoin, for example, decentralized content distribution is also possible. I've already (almost completely) ported the web2web HTML bootstrap page, however, to work it needs a public block explorer with API. It works with Graham's Fuseki installation but it's not ready still to publish the URL and sometimes gets stuck. So in short, it's still not ready, but we're getting close.

Anonymous transactions are already harder, but probably _could_ be ported (e.g. from Zerocoin), and Iot-capability is something almost impossible for cryptocurrencies taking into account present time's low-power IOT hardware - it's still not proven if Iota really works as expected (they still need a centralized "Coordinator").

What I wanted to say is that Slimcoin's advantages and "unique selling point" are on another level - the "consensus layer". This is harder to explain and understand, but also much more difficult to be "ported" by others. But there are some simple points that can be made:

- it is harder to attack (compared to a currency with similar market cap that relies only on PoW or PoS)
- it is harder to "kill it completely" (an attacker could profit from short selling trying to kill the network, but on Slimcoin, it's very likely that there will still be "burners" that will keep it alive)