Quote from: SlipperySlope on August 19, 2014, 04:09:50 PM

Quote from: Este Nuno on August 19, 2014, 03:14:56 PM

Quote from: drawingthesun on August 16, 2014, 02:16:14 AM

Hey. I'm not sure if this is true but apparently Ethereum might use something called DPOS (1). I haven't read the paper yet (2) but according to (1) vitalik agrees that proof of work is dead.

I believe this needs serious analysis in case they are right and onto something.

(1) https://bitcointalk.org/index.php?topic=740684

(2) https://bitcointalk.org/index.php?topic=558316.0

SlipperySlope and anyone else who has an interest in PoS:

What are you opinions on this DPoS? Is this the holy grail that people have been waiting for? I thought Vitalik was a PoW hardliner. So I was a bit surprised to read this.

I shared a conference call with Daniel Larimer, listening to progress on DPOS and explaining my own work. I commend Dan and his team. My greatest interest in DPOS is not how they secure the blockchain but rather the Distributed Autonomous Corporation, which I believe can be implemented in my Texai cognitive architecture.

As I consider the design of my own work, I see less reliance on proof-of-stake as a method to secure the blockchain, and much more emphasis on traditional financial software techniques. CPOS will have a single mint agent that migrates over a network of paid full nodes, creating new blocks without effort, and whose results are verified by other agents that replicate and verify the canonical blockchain. My approach is much less complicated than reinventing Satoshi's design from scratch. I merely encapsulate bitcoind and control what nodes it connects with, and give one of them at a time permission to generate the block.

I plan to fork the most popular PoW coins Bitcoin, Litecoin, Dogecoin and Namecoin on separate networks with separate branding - CPOS-B, CPOS-L, CPOS-D and CPOS-N respectively. To buoy prices, I would allocate a modest portion of the block rewards as dividend payments proportional to unspent transaction outputs. The remainder of the block reward finances generous support of full nodes and developers. The extreme low costs of CPOS with regard to PoW - which consumes the entire block reward, allows CPOS to offer 100x lower transaction fees. That feature, together with modest dividends and immediate acknowledgement of accepted transactions, should entice users to migrate over to CPOS from the PoW networks. All they need to do is configure new seed node addresses on their wallets and services. Their pre-fork coins will be present for spending.

So if I'm understanding right you plan to do a hard-fork of the Bitcoin, Litecoin, Dogecoin, and Namecoin blockchains? How does that work exactly? People will have their balances from their orginial blockchains on your CPoS forks as well?

Has this ever happened before? Is the intention to lure people over to these new networks where their balances are duplicated?

It's an interesting idea, that's for sure.