Post
Topic
Board Announcements (Altcoins)
Re: [ANN] AIRcoin - Professional Investment, No Fees, Rising Exchange Rate
by
mudshark79
on 04/03/2014, 10:55:52 UTC
@Teamaircoin:

I'm not sure if this question already came up somewhere in the past 20 pages ... so: why didn't you choose some fancy algo or some POS ingredient to the asset? To keep things simple (in terms of avoiding POS) or to even attract ASICS in the near future?

Regards



Initially, simplicity. Our time and energy is spent on the economics of the coin, and we didn't feel that (at least at launch) the effort and complexity put forth in a POS system would have significantly improved the economics of the coin. Instituting such a system (especially if Scrypt ASICs move in faster than we anticipate, we believe we'll be able to adapt the code earlier) is not out of the question though.

In the longer term (months), adopting to a more environmentally-friendly or economically viable POS system may be advantageous.

As my question did cover POS and alternative Algos also and your answer didn't clearly reflect on the second:

If I got you right, you do consider moving on to a Proof-Of-Stake AND/OR a different Mining-Algo (Scrypt-N, SHA-3) also, if this gives advantage to the project as a whole?

It is said that both this options can be applied to an existing coin afterwards forcing a hard-fork, but if I think about it no example where this actually really happened comes to my mind, not counting "blockchain-resets" ala Memorycoin.

Regards