So, now we need to define these key coin properties:
1) the total supply to be initially issued
2) the block target time
3) The minimum and maximum coin stake age
4) the yearly PoS interest
1)Upto the general consensus, but 1 million should be good to start with?
2) 60 seconds?
3) Maybe weekly and 30 days?
4) 8% or 9%? ( i calculated if we use 9% per annum, total coins in 20 years would be around 20 mil)
Addition
5) I am thinking, if we can limit the max number of coin that an account can keep? This will avoid the over staking of 1 account. Yes, i know what is the next question coming, what is stopping from a person creating multiple account. That would be one of the security measures. Instead of keeping in a single bucket, why dont diversify? My suggestion. I am treating RS as a bank account.
6) Can the wallet come with 2FA? What do think you of this?
These are just my opinion. Feel free to chip in your ideas people.
One more question: is the community going to stick with 'Reserve Share Unit' name for a single unit of coin to be created or the community would like to use more common word 'coin' for a unit, so the name of unit became 'Reserve Share Coin'?
I need this to know in order to prepare the wallet's source code.
I was thinking of removing "unit" and just keep RS. I am thinking of this dialogue "RS me x amount of coins", "dude, RS me something..".
Can someone be creative to change the word of RS to something better?
What do you think bee?