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Topic
Board Announcements (Altcoins)
Re: Titcoin™ [TIT] | New Developer | Discussion Forum (2016 XBIZ Awards Nominee)
by
Gandalf86
on 04/02/2018, 09:15:40 UTC

As said before, I think for a payment solution, running your own blockchain is mandatory, because a token-based solution also requires trust to the underlying platform, which reduces the chance for widespread adoption significantly. For game integration, on the other hand, a token-based solution is optimal because it's fast, uncomplicated and flexible.

What confuses me then is this quote:

Quote
On February 2nd, there was an internal milestone met in which the completion of several thousand lines of networking code was written to be shared across both Triple X Tycoon and Titcoin for use in a multiplayer tie-in at a later date.

So are you already planning to use Titcoin in your game or not?  Huh But at the same time you are asking whether you should make a new "TitGold" token for integration with your game? Seems like a waste of time if you are going to switch anyway.

When thinking about the underlying algorithm for Titcoin, I would suggest switching to a Proof-of-Stake-based solution, because Titcoin is already well-distributed, and PoS is usually faster than PoW and will enable the users of the coin (which are the main target group in this use case, along with the merchants) to support the network and generate coins. This will be the optimal setup when Titcoin becomes a widely accepted currency for adult payments. When hard-forking anyway, this will also allow you to switch to a more recent codebase.  Wink Just put a checkpoint at some point when the consensus mechanism changed, then potential security issues around PoW with SHA-256 will be irrelevant.

When deciding to develop this Titcoin for the purpose of being a currency, you might also ask for donations to support development, because you won't make any immediate profits from that. I understand that developing an open-source software is not always a solid business model, but there's a lot of money in cryptocurrencies that investors like to give to developers in order to enable them developing these things.

Btw. do you have a Discord channel for enabling users and developers to chat? IMO that's a great platform for building a community, and bringing users and developers together.