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).
You really work on Android..?? This is great! Release in the same time as ZC?
With a block reword halving you plan to quit mining? : )
Maybe you will because of difficulty, but price would be higher then now...
But yea, I accept every change right now, we need moves!
Keep working, and give us some progress, maybe every Monday?
