Post
Topic
Board Announcements (Altcoins)
Re: Slimcoin | First Proof of Burn currency | Decentralized Web
by
d5000
on 13/08/2020, 16:58:34 UTC
If i understood well if we would have premined coins, it will be possible to distribute those SLM to the burnt addresses (the balances on it) so no one is loosing nothing?
Correct, a swap is a premine with the exact amount of the balances of all active addresses, which is distributed in the genesis block.

But the PoB process in SLM works a bit differently. It's not that everybody has is own "burn balance" on an address. All burnt coins are sent to a single "burn address". That means, that to calculate the "score" for PoB minting, the algorithm needs to access the transactions to the burn address.

This means that in a swap, to preserve the "PoB power" of everybody, these transactions have to be stored also in the genesis block. What adds some complications is the "decay" mechanism (i.e. that your PoB power decays over time). If we simply stored the original burn transactions in the genesis block, then those who burnt coins in 2014 would have equal power to those who burnt in 2020, which is not the intention of the coin creators.

So some additional calculations are necessary, to reflect the "decay" process.

Quote
What about to exclude PoW, and keep only PoS and PoB, with awards in some reasonable ratio, just thinking, bur with PoW i am good as well. I am telling this as seems CPU mining is not too attractive for miners, on the others side a few people with big servers can take over mining.
I would be strongly against a PoW elimination. It is an additional layer of security which can prevent nothing-at-stake attacks. Also it is deeply interwoven with PoB, so PoB would have to be implemented in a completely new way if PoW was eliminated.