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.
It seems to me a kinda
chaotic version of my own proposal PoCW. I say chaotic because it is more deconstructional and we should deal with a whole new data structure which is more complex than what is used in legacy blockchain. This is definitively a disadvantage: More sophisticated the model less predictable and more error prone it is.
As of the basic idea, rewarding miners proportional to their blocks' difficulty which is relatively similar to what I suggested in PoCW, obviously I admire it.
Few questions by the way:
1- How is it possible to keep track of difficulty and total coin supply?
2- Full nodes should validate all chains for inter-chain transactions. How this is handled?
3- Immutability of a confirmed transaction on the blockchain is not guaranteed only by the work done on the containing block it is achieved by total work of all of the next blocks in the chain. Dividing work between sub-chains escalates re-write attacks on weak chains. What's your mitigation?