Re: [ANN][C2] Coin2 | POS | Official Thread | BF3 | BF4 | CS:GO | Chain of Conflict
New coin specification (draft):
Premine: 12.5 Mil for the Coin2 swap.
100% PoW from block 1 to 99,999
Hybrid PoW + PoS from block 100,000 to block 599,999
PoW disabled at block 600,000
PoS + PoC from block 600,000
SegWit support: Yes
Privacy: Darksend, zero-knowledge proof or zk-SNARK
2 PoW algorithms ASIC resistant among these: Skeim, Groestl, Qubit, Cryptonight
PoW block time: 120 sec.
Block size: 4 or 8 MB
Confirmations: 3 or 5
Pow standard block reward: 4 coins from block 1 to block 399,999, 2 coins from block 400,000 to 599.999
Pow super block reward: 16 coins from block 1 to block 399,999, 8 coins from block 400,000 to 599.999
Standard blocks: 550,900
Super blocks: 49,098
Distribution of super blocks: specific blocks following a mathematical theorem. Probably a new concept
Total reward: 2,497,742 coins
Total PoW coins: 12,500,000 +2,497,742 = 14,997,742
About PoS and PoC:
30 or 60 sec. block
APR: many levels of percentage to define
PoS flex:
A new feature temporary allowing a faster block time if more than X transactions are pending in the mem pool.
We could use an improved PoS version while implementing new security rules to maintain the consensus. I'm thinking about a limitation regarding the number of consecutive blocks a node would be allowed to mint. Such a limitation would enforce the node to wait for new blocks from the network before broadcasting a new block. It would also prevent a node to deliver all required confirmations and to impose its version of the blockchain to the entire network as well.
I thought about some new features to optimize coins minting. The first one is a gauge that would monitor the inputs and provide information regarding the minting health. The second one would replace the manual coin control plugin while running a specific agent. It would group many outputs into a single input regarding user settings to maintain a strong staking weight.
About Tx fees, charity, etc. :
I thought about 2 distinct settings for fees, the first one for standard transactions and the second one for micro-payments. Something like 0.01 for 1 coin or more and 0.0001 for less than 1 coin.
Standard Tx fees could be sent to 2 wallets regarding the block number: fee for pair blocks going to the foundation wallet and fee for impair blocks to the charity wallet.
I also thought about a higher fee of 100 coins applied to coins destroyed for MN and sent to the foundation wallet or shared 50/50 between the foundation and the charity address.
Fees for specific transactions could be destroyed in a verifiable way to limit the inflation. I'm thinking about fees per Kbytes if we are implementing DiguSign.
Multi purpose Coin: for sure!
Blockchain usage: some interesting proposals to study
I would just add this: encryption and safe storage for ideas, scientific discoveries, inventions, etc.
Additional features:
Staking for charity: is not required if fees for charity are implemented and if the charity wallet is a Super Stacker
DigiShield: to study. Multi-pools are precious for little investors and they can contribute to the community growth
Segwit: OK
Premine: 12.5 Mil for the Coin2 swap.
100% PoW from block 1 to 99,999
Hybrid PoW + PoS from block 100,000 to block 599,999
PoW disabled at block 600,000
PoS + PoC from block 600,000
SegWit support: Yes
Privacy: Darksend, zero-knowledge proof or zk-SNARK
2 PoW algorithms ASIC resistant among these: Skeim, Groestl, Qubit, Cryptonight
PoW block time: 120 sec.
Block size: 4 or 8 MB
Confirmations: 3 or 5
Pow standard block reward: 4 coins from block 1 to block 399,999, 2 coins from block 400,000 to 599.999
Pow super block reward: 16 coins from block 1 to block 399,999, 8 coins from block 400,000 to 599.999
Standard blocks: 550,900
Super blocks: 49,098
Distribution of super blocks: specific blocks following a mathematical theorem. Probably a new concept
Total reward: 2,497,742 coins
Total PoW coins: 12,500,000 +2,497,742 = 14,997,742
About PoS and PoC:
30 or 60 sec. block
APR: many levels of percentage to define
PoS flex:
A new feature temporary allowing a faster block time if more than X transactions are pending in the mem pool.
We could use an improved PoS version while implementing new security rules to maintain the consensus. I'm thinking about a limitation regarding the number of consecutive blocks a node would be allowed to mint. Such a limitation would enforce the node to wait for new blocks from the network before broadcasting a new block. It would also prevent a node to deliver all required confirmations and to impose its version of the blockchain to the entire network as well.
I thought about some new features to optimize coins minting. The first one is a gauge that would monitor the inputs and provide information regarding the minting health. The second one would replace the manual coin control plugin while running a specific agent. It would group many outputs into a single input regarding user settings to maintain a strong staking weight.
About Tx fees, charity, etc. :
I thought about 2 distinct settings for fees, the first one for standard transactions and the second one for micro-payments. Something like 0.01 for 1 coin or more and 0.0001 for less than 1 coin.
Standard Tx fees could be sent to 2 wallets regarding the block number: fee for pair blocks going to the foundation wallet and fee for impair blocks to the charity wallet.
I also thought about a higher fee of 100 coins applied to coins destroyed for MN and sent to the foundation wallet or shared 50/50 between the foundation and the charity address.
Fees for specific transactions could be destroyed in a verifiable way to limit the inflation. I'm thinking about fees per Kbytes if we are implementing DiguSign.
Multi purpose Coin: for sure!
Blockchain usage: some interesting proposals to study
I would just add this: encryption and safe storage for ideas, scientific discoveries, inventions, etc.Additional features:
Staking for charity: is not required if fees for charity are implemented and if the charity wallet is a Super Stacker
DigiShield: to study. Multi-pools are precious for little investors and they can contribute to the community growth
Segwit: OK
The first draft is looking great, thank you for using some of the ideas I suggested!
Happy I could help!As for standard fee's... I think it all depends on the value of the coin. If we get a lot of interest and the value of the coin goes up to $100 then how does that 0.01 fee stack up against other coins? I think really we'd need to examine other coins to ensure the fee's are competitive to future proof such a scenario. Unless there's a way to tie fee's directly to marketcap somehow that I'm unaware of. Having different fee tiers like you suggested should be done, I think that's a great idea.
Also about Digishield from what I understand it just retargets block difficulty at real-time so to protect the integrity of the coin. Multipools would still be able to operate. I think once you read more on it you'll see why it would be useful. For more info see here: https://www.reddit.com/r/Digibyte/comments/213t7b/what_is_digishield_how_it_works_to_retarget/