Re: Titcoin™ [TIT] | New Developer | Discussion Forum (2016 XBIZ Awards Nominee)

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.

Great points here as usual. And understandably confused, we could have worded that a bit better. What was implied was that we've already built a framework to tie into the coin without actually moving forward on that implementation yet. The reason being as stated, we recognize the flaws in Titcoin currently and how that could effect stability in the future. I should also note that when we said Titcoin in that context we meant it broadly (as in to include TitGold) although we should have been a lot more specific considering the importance of the decision.

We've always typically built in-house and under proprietary licenses and I would be lying if I said we didn't prefer to keep it that way. Although we also fully acknowledge the nature of the project and would like to maintain the transparent and open-source standard of the crypto space. This is why we felt it necessary to revisit the idea of a spin-off "token" as it would allow us some additional room to iterate without destabilizing the base.

Thanks for your input!