Here's some more info that I have quickly typed in for you to look at :

The fix is simple.

Bitcoin has solved most of the puzzle with blockchain.

We simply propose a few fixes :

1) The coin value should be directly pegged to the issuance of the coins. Which means the coin base transaction should be equal to the difficulty factor of the target that's met.

For eg. If the target should be less than 100,000 - then one coin shall be issued.

If the target is less than 50,000 - then two coins shall be issued in the coin base.

This way multiple chains are equal. Given this. People can move accounts and transfer money between different chains.

Any chain with a proof of work chain is valid and it's easy to estimate the amount of value in them.

How do we prevent double spend?

Remember, the proof of Work is actually a timestamp and a sure way to measure time. To achieve decentralized consensus, we simply accept the chain as valid which holds in a section of its headers - the full sequence of the mother chains' timestamps (block hashes). I have a specific algorithm which measures the trustability of a chain. Will be releasing it along with the reference client.