Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // Launched search engine @lill.com
GOOD NEWS #1 Karma Will Adopt the X11 Hashing Method!!! http://karmashares.com/forums/index.php?topic=381.0
host image
host image
X11:
Good.
Automatic Checkpointing to prevent transaction rollback via 51% attacks.
Great if done correctly, could be catastrophic mistake if not.
Time Travel limitation to reduce the ability for attackers to try and force on old or too-new blocks to change difficulty adjust behaviour.
Excellent.
An improved retargeting solution in Nite's Gravity Well. This will allow us to respond quickly to hash rate changes and recovery from high difficulty. This will also help prevent against multipools abuse.
Excellent.
Quote from: kosmost in official announcement
I thought we were going PoS?
As some of you may know, we have debated implementing various changes to core Karma over the past couple of months. We've considered PoS, PoSV, DPoS, PoS 2.0, PoI, PoN, and several others. Some of our community called for an immediate switch to PoS, which we were open to but wanted to spend more time researching. After talks with other devs, miners, users, and a crypto-economist we decided that the combination of X11 with a separate PoW/PoS sidechain would be best for the overall health of the coin and economy.
While PoS is interesting from the store-of-value perspective, we are not focusing only on that aspect of the coin. We are focusing on creating a micro-economic system within the traditional crypto world. This means that our plan is to create a self-sufficient network of coins, services, and other value-adds such as Karmashares, where we will be able to augment weaknesses of one protocol with benefits of the other. With this in mind the idea of the PoS sidechain is to generate greater security for our coin and also lay the foundation for future endeavors we are planning as a community. These will focus on breaking the chasm between crypto and real world economics, thereby enabling us to enter the profitability loop and to become our own engine of growth without relying on others.
What is the Second Announcement?
Our second big announcement is hinted at above, and will be posted in another thread.
As some of you may know, we have debated implementing various changes to core Karma over the past couple of months. We've considered PoS, PoSV, DPoS, PoS 2.0, PoI, PoN, and several others. Some of our community called for an immediate switch to PoS, which we were open to but wanted to spend more time researching. After talks with other devs, miners, users, and a crypto-economist we decided that the combination of X11 with a separate PoW/PoS sidechain would be best for the overall health of the coin and economy.
While PoS is interesting from the store-of-value perspective, we are not focusing only on that aspect of the coin. We are focusing on creating a micro-economic system within the traditional crypto world. This means that our plan is to create a self-sufficient network of coins, services, and other value-adds such as Karmashares, where we will be able to augment weaknesses of one protocol with benefits of the other. With this in mind the idea of the PoS sidechain is to generate greater security for our coin and also lay the foundation for future endeavors we are planning as a community. These will focus on breaking the chasm between crypto and real world economics, thereby enabling us to enter the profitability loop and to become our own engine of growth without relying on others.
What is the Second Announcement?
Our second big announcement is hinted at above, and will be posted in another thread.
I hope if there is a "side chain" that is meant to be checkpointing Karma it isn't Karmashares under any algorithm or combination thereof (being PoS+PoW or whatever) because that would be a catastrophic mistake if done poorly and a big mistake if done correctly.
Just making Karmashares PoW or PoS or anything in itself could be a major mistake.
Even making Karmashares easily tradeable could be a big mistake.
I will not post why nor answer why by private message. I'm already shooting myself in the foot enough by posting this in the vain hope that it can avert problems before they arise.
Yes this is worth posting even if it is highly confrontational.
Chargin.