Re: [ANN][C2] Coin2 | POS | Official Thread | BF3 | BF4 | CS:GO | Chain of Conflict
@nrigo
Is proof of space also being considered as well? It's a pretty neat feature I enjoy about Burstcoin.
Multi-Algo PoW (3 or perhaps more?) + Proof of Stake + Proof of Space
PoW = 20%+20%+20%
PoS = 20%
Proof of Space = 20%
Would make for a really secure block chain.
Also what are your thoughts on having a very quick block time? Something like 7.5 or 10 seconds? Transaction times would be super fast; perhaps faster than any coin out there and hopefully we can have low fee's on top of that.
Proof of Space (or Proof of Capacity) could be considered as well. Thank you for this great idea Is proof of space also being considered as well? It's a pretty neat feature I enjoy about Burstcoin.
Multi-Algo PoW (3 or perhaps more?) + Proof of Stake + Proof of Space
PoW = 20%+20%+20%
PoS = 20%
Proof of Space = 20%
Would make for a really secure block chain.
Also what are your thoughts on having a very quick block time? Something like 7.5 or 10 seconds? Transaction times would be super fast; perhaps faster than any coin out there and hopefully we can have low fee's on top of that.
We have to be very careful with the block time and with the block reward. Super fast transactions could also mean super fast inflation.
You're very welcome! Yeah I was thinking proof of space (proof of capacity) could be appealing for those with poor hardware but also as a green energy efficient claim we can add to the resume.
Good point on inflation. Hope there's a way we can have the fastest transactions of all coins but keep inflation in check.
The first challenge is to find a balance with the block reward and the block time for the 100% PoW period, including super blocks or not.
What do you think of 0.75 Mil, 0.5 Mil for standard blocks + 0.25 Mil for super blocks?
What's about a 20,000 blocks duration ?
After this, we could imagine a first transition to hybrid PoW + PoS and a second transition to PoS + PoC x blocks later.
The new coin could start with a 4 minutes block time during the 100% PoW period and the transaction speed would increase with each hybrid activation.
MERRY CHRISTMAS ALL!
I think those numbers are pretty nice. I've been thinking about the block time lately and considering what you've been saying about your concerns of inflation if the block time is too fast. If your considering 4 mins couldn't we lower the reward to compensate for the quicker block time? For example if we divide the reward by 60 we could have the block time at 4 seconds instead of 4 minutes but still keep inflation at the same rate. I just think if possible we could really be onto something if we could claim the fastest coin while also being one of the most energy efficient coins (PoS+PoC). Those two claims on top of the masternodes and superstake could propel us to the top 50 coins in a short time.