Re: ★★DigiByte|极特币★★[DGB]✔ DigiSync v6.14.2 - DigiSpeed - Segwit -DiguSign
I've been thinking a modified Proof-of-Stake (mPOS) algorithm could be a good alternative mining algorithm for DGB.
An algorithm where mining-node has to provide the network with proof of 100,000 DGB ($1,500) as a type of collateral. Then the mPOS algorithm could have a pseudo-random selection process that is derived from the hash of a previous block to select the mining-node that gets to create the next block. Having a mPOS algorithm would create incentive for miners to invest in DGB instead of spending money on expensive ASIC hardware and electricity. It would also have the tendency to pull upward on the value of DGB by encouraging savers, effectively reducing the DGB supply which offsets the effects of the high short-term inflation.
Any one else have thoughts on this idea?
Not exactly that idea but this one.An algorithm where mining-node has to provide the network with proof of 100,000 DGB ($1,500) as a type of collateral. Then the mPOS algorithm could have a pseudo-random selection process that is derived from the hash of a previous block to select the mining-node that gets to create the next block. Having a mPOS algorithm would create incentive for miners to invest in DGB instead of spending money on expensive ASIC hardware and electricity. It would also have the tendency to pull upward on the value of DGB by encouraging savers, effectively reducing the DGB supply which offsets the effects of the high short-term inflation.
Any one else have thoughts on this idea?
A Digi ID mining wallet perhaps could be possible. We may be a way off being able to ensure that the owner really is a real person in control of their personal wallet but that certainly seems to be part of what we are working towards. It is never going to be easy because nation states can create false IDs and this could be something possibly worth doing a bit of that for, it may even just become necessary for them to do or attempt this. Other bad actors will have perhaps limited capability of doing it too but these are real and important world issues that this technology will actually be attempting to tackle seriously for the first time digital trails will eventually be analysed to show what is really happening and hopefully we will be able learn from this and adapt too!
Maybe the coins mined to this now imaginary ID wallet, wouldnt actually be able to be spent until analysis of the ID trail put beyond reasonable doubt that it really belonged to a real person entitled to the funds in it at a future date.
I dont know how we might exactly achieve all of this yet, I dont think this is a little challenge!
But this could theoretically be a basis for a universal payment, designed to compensate for world automation perhaps?
In my minds eye anyway.
