Great idea - this POV (proof of Validation) appears to be a real development and something new beyond POW and POS.

I've been looking for an algo which can replace the rewards to a small coterie of miners with a reward to every participant who runs a full node and thus supports the entire system.

Once you have a large network of participators, each getting a regular if small income, then you have the potential for a powerful global crypto which challenges all others.

Can POV do this?

In order to use POV, the participants need coins in order to bond them and participate - how can you do a fair distro of coins in the first place? - has this been considered in this context?