Re: (XF₲) Fuego 🔥 Decentralized Privacy Banking Network (POW)
mentioned in discord:
been thinking about making some fundamental changes to Fuego which to some, might go against its founding principles of inflation or removing the hard cap...and while i believe it is important to never give up- it may be equally as important to be adaptable....so the idea is this:
What if our XFG deposits never unlocked...?? but rather burned (fire emoji
)
however since with CN protocol there isn't a way to burn or destroy coins - we aren't technically burning them- instead we could add the amount of all burned-deposits BACK to total supply and increase future block rewards. So its more akin to recycling than burning by technical definition...which is what makes it not so much like inflation...as in: it doesn't just come from nowhere like printing out of thin air....but rather comes from an actual sacrifice.
And instead of making COLD inflationary like i had planned, we can keep the original idea of a rigid fixed-cap supply (80)
I, of course, will fix any current deposit issues of withdrawal first so everyone can unlock/withdrawal any deposits already made beforehand...but after that - i'm thinkin we make a hashrate vote between versions (new Fuego burn deposits into inflation vs. current Fuego capped supply) since the only real way to vote on Fuego is running a node. We can keep unlockable deposits too, but major changes to total supply cap would still be the voting issue at hand.
More later, just wanted to put the idea out there for now. Let me know what yall think
been thinking about making some fundamental changes to Fuego which to some, might go against its founding principles of inflation or removing the hard cap...and while i believe it is important to never give up- it may be equally as important to be adaptable....so the idea is this:
What if our XFG deposits never unlocked...?? but rather burned (fire emoji
)however since with CN protocol there isn't a way to burn or destroy coins - we aren't technically burning them- instead we could add the amount of all burned-deposits BACK to total supply and increase future block rewards. So its more akin to recycling than burning by technical definition...which is what makes it not so much like inflation...as in: it doesn't just come from nowhere like printing out of thin air....but rather comes from an actual sacrifice.
And instead of making COLD inflationary like i had planned, we can keep the original idea of a rigid fixed-cap supply (80)
I, of course, will fix any current deposit issues of withdrawal first so everyone can unlock/withdrawal any deposits already made beforehand...but after that - i'm thinkin we make a hashrate vote between versions (new Fuego burn deposits into inflation vs. current Fuego capped supply) since the only real way to vote on Fuego is running a node. We can keep unlockable deposits too, but major changes to total supply cap would still be the voting issue at hand.
More later, just wanted to put the idea out there for now. Let me know what yall think