Post
Topic
Board Announcements (Altcoins)
Re: [ANN] [QRK] Quark | Super secure hashing | CPU mining
by
EntropyExtropy
on 03/12/2013, 14:04:32 UTC
To clarify on the 'fork' issue. Those of us considering developing a quark-based coin are still discussing whether or not to keep the existing blockchain. If we do, the existing public ledger will be adopted at the time of the release of the first Quark-derivitive release, and any transactions/account balances from that point backwards will be adopted into the new coin, meaning that individuals with a stake in Quark won't lose their efforts.


I've been advocating using an engineered 'exodus block' that will effectively execute a reverse stock split between the old block and the new block at some ratio (which I believe should be 10:1); meaning that the circulation of Quark would be reduced to 25.7 million. A mining schedule could then be effected that produced the same benefits of Quark (high-circulation, high-fungibility, low incentive to hoard), but made it much more fair to those only getting involved now.

The 'pre-mining' issue, though it was never an actual pre-mine, is the reason for the backlash against Quark. I believe it can be, and needs to be, fixed otherwise Quark is likely to fade into obscurity.