Yesterday we were talking with developer of another coin that already succeeded on the market about future of cryptocurrencies. An also we talked about iCoin and possibilities of utilising block chain and making iCoin new great cryptocurrency. We discussed that any old crypto-currency can succed if it:
1. Has good brand-name
2. Fairly distributed
3. Has active community
4. Has no premine
5. Has active team and good roadmap
I think that we can utilise block chain of iCoin but we also can create a new "Proof of Investment" or "Proof of Hold" algorithm that will work along with Proof of Work in the near future. Proof of Work will remain for next few years, reward will be halving every 128,000 blocks (every 3 months) but along with it new algo will start to work. A new "Proof of Hold" will be similar to "Proof of Stake" mechanism but will have some differences.
Holders of iCoin will have a possibility to reserve some coins for a period of time and have profit from holding. For that period holder will reserve part of his coins in his Wallet that couldn't be transfered at this period of time. Any holder can choose period from 1 month to 1 year. It will make coin resistant for sudddenly dumps and interesting for investors. Every holder of iCoin can see what quantity of coins are "invested" or "holded" at that moment in whole network.
The roadmap and new site will be made with help of community and people who interested in future of iCoin. If you have any suggest about future of iCoin you can also reply to this topic.
1. Has good brand-name
2. Fairly distributed
3. Has active community
4. Has no premine
5. Has active team and good roadmap
I think that we can utilise block chain of iCoin but we also can create a new "Proof of Investment" or "Proof of Hold" algorithm that will work along with Proof of Work in the near future. Proof of Work will remain for next few years, reward will be halving every 128,000 blocks (every 3 months) but along with it new algo will start to work. A new "Proof of Hold" will be similar to "Proof of Stake" mechanism but will have some differences.
Holders of iCoin will have a possibility to reserve some coins for a period of time and have profit from holding. For that period holder will reserve part of his coins in his Wallet that couldn't be transfered at this period of time. Any holder can choose period from 1 month to 1 year. It will make coin resistant for sudddenly dumps and interesting for investors. Every holder of iCoin can see what quantity of coins are "invested" or "holded" at that moment in whole network.
The roadmap and new site will be made with help of community and people who interested in future of iCoin. If you have any suggest about future of iCoin you can also reply to this topic.