Re: [ANN] CommunityCoin (COMM) | Pure PoS | Original COMM MultiPools Coming Soon
I would like to share an idea of future coin development.
Here is my proposal: add a feature to wallet to lock coins for a long period of time. Call it Proof Of Long Hold/Stake for example and offer slightly increased interest rate.
The idea:
1. User send special amount of coins to special address in his wallet.
2. After a months he will receive his special amount + extended reward.
3. Coins unspendable during this period.
Just like proof of burn, but coins always back after a long period of time + reward.
Or just a special kind of staking when coins locked for a long period (2 weeks or 1 month). So coins are unspendable and can not be dumped hard. Such blocks can require 10K confirmations for example to make sure that coins are unspendable.
Dev, do you like it?
Update: How to determine what address is suitable for such kind of stake? Just send a special amount, 1,999,999 coins for example, than wallet will stake it immediately. To avoid possible attacks, such addresses must be filled with special amount in a single transaction. Pretty simple to implement.
Here is my proposal: add a feature to wallet to lock coins for a long period of time. Call it Proof Of Long Hold/Stake for example and offer slightly increased interest rate.
The idea:
1. User send special amount of coins to special address in his wallet.
2. After a months he will receive his special amount + extended reward.
3. Coins unspendable during this period.
Just like proof of burn, but coins always back after a long period of time + reward.
Or just a special kind of staking when coins locked for a long period (2 weeks or 1 month). So coins are unspendable and can not be dumped hard. Such blocks can require 10K confirmations for example to make sure that coins are unspendable.
Dev, do you like it?
Update: How to determine what address is suitable for such kind of stake? Just send a special amount, 1,999,999 coins for example, than wallet will stake it immediately. To avoid possible attacks, such addresses must be filled with special amount in a single transaction. Pretty simple to implement.
In my opinion this is a very good idea, in fact, if you click on the English link in my sig ("Price stability ..."), I proposed a very similar feature to the PPC community some months ago. There was some interest but it would have been implemented in a new altcoin, and I'm not a dev :-/
This "Proof-of-Hold" or "Proof-of-Freeze" feature would give the coin more stability. I would even give PoS interests only to "frozen" coins. So you don't get nothing if you are not willing to take a risk. So the incentive will be even higher to "freeze" the coins.
If this is introduced in COMM (and cold-minting
) I will probably be a long-term supporter.