Re: Official Anoncoin chat thread (including history)

Does anyone have an opinion on a 100% proof-of-stake system, similar to Peercoin? (actually, they use a mixed POW and POS system.)

The benefit is that there is little energy used with POS compared to energy hungry POW algorithms.

The downside is that there is built in monetary inflation (albeit, very low at 1% for peercoin, if I remember correctly).

People are more attracted to 100% proof of stake in new coins now. Only miners don't like it. For the coin and the value of the coin 100% proof of stake is better than regular mining.

regular mined coins / btc, ltc etc / 1 star

proof of stake / nxt, cap, etc / 2 stars

innovative productive / xpm, ric etc / 3 stars

innovative productive variation of proof of stake / huc, etc / 4 stars

Going to 100% regular proof of stake is like adding a piece of celery to a bowl of rice.
Is it an improvement? Yes.
a significant improvement? No.
Nothing creative or new about it but yes, rice with celery is better than rice without celery.

With a block reward of 2.5 ANC in some months, we will loose all small miners against big centralized miners that will control the network as they want.

Then, in my opinion, PoS would be a good option. They could program the inflation rate to have same coins distribution as the actual PoW algo (4 million ANC at the same approximated date).

Well if the volume and value of rewards are dropping faster than any increases in ANC price. Then that's where AuxPoW comes into play by merge-mining with much larger networked coins. PoS in it's current form doesn't really work. DPoS is interesting but isn't the ultimate solution to replace PoW as a fair distribution model. A myriad of AuxPoW with much larger networked coins will secure the ANC network a lot more than going to any pure PoS model or even DPoS. Peercoin is a very interesting attempt at the problem of avoiding sybil attacks. Although to copy their moves would mean to adopt a continuously inflationary model. I feel small coins grouping together into AuxPoW could help them build strong networks cheaply. While using a myriad of merge-mined netowrks could strengthen Anoncoin even more.