Post
Topic
Board Announcements (Altcoins)
Re: Slimcoin | First Proof of Burn currency | Decentralized Web
by
d5000
on 13/08/2020, 16:27:43 UTC
I am neutral on it - as I already wrote to johnwritestar per PM, there are opportunities (get rid of the whole old code, be able to change some parameters without a "regular" hardfork) and challenges.

One of the challenges all community members should consider is that if we swap the balances 1:1 to a completely new blockchain, then all Proof of Burn values would be reset to zero. That means that those who burnt coins to be able to earn coins, would lose their "burnt balance".

There can however be a solution based on an additional pre-mine which represents the "effective" burnt coins of every user. In this case the genesis block would contain, apart from the swap distribution, also the transactions from the "burners" to the burn address. This however requires some additional calculations, but it should be completely doable.

(Please comment if my formulation is not clear enough - I think it's a very important issue which should be solved before taking any decision.)

I also would be in favour to the following two changes in the case of a swap:

- Reduce the minimum amount of a transaction output to 1 coin unit ("slimtoshi", i.e. the equivalent of the satoshi). Right now, it's 0.01, this could lead to problems in the future.
- Reduce the mandatory transaction fee from 0.01 per kB to 0.0001 per kB. This would still disincentive spam, but it would not make transactions with tokens too expensive.