Re: The Cypherfunks[FUNK]: a coin for a global band! Talking v2. Join! 80+ songs
I just want to weigh in on this with a slight opinion. Ok, I don't have slight opinions 
I'm not terribly impressed with the idea of a token. Sure, they're easier to make than an actual coin, and sure, they are backed by the Ethereum blockchain, but think about those two things for a moment.
second things first, the Ethereum blockchain faced and failed to overcome the scaling obstacles that Bitcoin is dealing with RIGHT NOW, the day it launched. They don't have a real plan to deal with it, either.
And tokens ARE easy to make. How are you gonna differentiate FUNK from the others? Cloning a satoshi coin requires quite a bit more knowledge than making a token. That being said, EVERYTHING ELSE about Etherium is much more difficult than BTC/Satoshi based coins. From cold storage to multisig, Eth is a fucking mess. It's ugly, inelegant, and prone to failure.
OTOH, you could with relative ease fork Funk as it stands, either modifying or eliminating KGW, and/or switching to a less ugly algorithm. Scrypt is going to continue to cause the recent problems, because any dink with a couple grand can buy an L3+ and hang the chain. Sure, it does eventually catch again, but it can be (and twice in the last four days HAS) been more than a day between blocks.
I see two easy ways to solve these, and one is a soft fork. The other is hard.
The first is to steal some code from BTC testnet, and make it so that if a certain defined time has passed, the difficulty drops. In BTC Testnet 3, it drops to one. I think that is probably too much of a drop, but it is the right idea, but perhaps make it incremental.
e.g. it drops to 10 diff if an hour has passed, 5 at 2 hours, 2.5 at 3 hours, and then to one if it still hasn't broken a block. This would correct the excess of KGW throwing the brakes on it, but it's a bandaid. If the coin gets popular, it becomes an avenue of attack.
So, instead, leave KGW, but change to a CPU or at least GPU hard algo, like Prime or X15 or the like. I favor CPU hard, because that makes it so EVERY person holding FUNK will have incentive to contribute to the network.
Well, there's my 2 satoshi's worth I'll back the team either way.
I'm not terribly impressed with the idea of a token. Sure, they're easier to make than an actual coin, and sure, they are backed by the Ethereum blockchain, but think about those two things for a moment.
second things first, the Ethereum blockchain faced and failed to overcome the scaling obstacles that Bitcoin is dealing with RIGHT NOW, the day it launched. They don't have a real plan to deal with it, either.
And tokens ARE easy to make. How are you gonna differentiate FUNK from the others? Cloning a satoshi coin requires quite a bit more knowledge than making a token. That being said, EVERYTHING ELSE about Etherium is much more difficult than BTC/Satoshi based coins. From cold storage to multisig, Eth is a fucking mess. It's ugly, inelegant, and prone to failure.
OTOH, you could with relative ease fork Funk as it stands, either modifying or eliminating KGW, and/or switching to a less ugly algorithm. Scrypt is going to continue to cause the recent problems, because any dink with a couple grand can buy an L3+ and hang the chain. Sure, it does eventually catch again, but it can be (and twice in the last four days HAS) been more than a day between blocks.
I see two easy ways to solve these, and one is a soft fork. The other is hard.
The first is to steal some code from BTC testnet, and make it so that if a certain defined time has passed, the difficulty drops. In BTC Testnet 3, it drops to one. I think that is probably too much of a drop, but it is the right idea, but perhaps make it incremental.
e.g. it drops to 10 diff if an hour has passed, 5 at 2 hours, 2.5 at 3 hours, and then to one if it still hasn't broken a block. This would correct the excess of KGW throwing the brakes on it, but it's a bandaid. If the coin gets popular, it becomes an avenue of attack.
So, instead, leave KGW, but change to a CPU or at least GPU hard algo, like Prime or X15 or the like. I favor CPU hard, because that makes it so EVERY person holding FUNK will have incentive to contribute to the network.
Well, there's my 2 satoshi's worth
I'll back the team either way.