Quote from: coinrevo on February 03, 2014, 09:04:11 PM

at least we have now several experiments going on, so it is interesting to see how this evolves.

Yea, the NEM coin (NXT fork) popped up 1 month after I made this post. I believe a PoW system that issues unique wallet addresses, then caps mining rewards a day per address, is a much better solution than their whole deal with proof of stake + IPO. You could also, instead of capping mining rewards per day by wallet address, go with a Kimoto difficulty system, then cap each client/wallet to the same amount of hashing power that connects to the network, so reward would be variable depending how many people get on. There are just several more efficient ways to do things than how Bitcoin does now.

My proposal maintains normal proof of work, but allows you to run it 24/7, on a single core with little power use. People would leave it running all the time because they wouldn't want to miss out on any block reward while they're out of the house doing something. There would be little reason to turn it off when you're only using a single CPU core, so the network distribution would be bullet proof, light years ahead of BTC. Once you build an encrypted messaging client on top of that, it would really be something.

Also, if you can use PoW without power consumption issues, there's no reason to use PoS. It just brings unneeded complexity and annoyance.