PoS Update
We are very close to the PoS switch. As such I want the community to have the first look at the white paper explaining the algorithmic monetary policy that Nautiluscoin will employ. Keep in mind this document is written for the general public - the specs will be released soon.
Abstract
As pointed out by the Bank of England in its Quarterly Bulletin 2014 Q3 The Economics of
Digital Currencies, Bitcoin faces three challenges:
1) Volatility 2) Sustainability of Low Transaction Fees 3) Limitations of a Fixed Money Supply.
Nautiluscoin was designed to address and eliminate the challenges faced by Bitcoin. This
document serves an introduction to the three pronged approach employed by
Nautiluscoin to reduce volatility, maintain low fees and regulate money supply.
The Nautiluscoin Stability Fund seeks to reduce volatility, while the Proof of Stake
algorithm does away with the need for expensive mining equipment. Additionally, at the
heart of the Proof of Stake reward calculation is an algorithmic monetary policy that
adjusts money supply with demand.
Enjoy!
BK