Quote from: ManaMan on January 24, 2018, 07:21:58 PM

Quote from: Simple8.1 on January 24, 2018, 06:14:45 PM

Since the current industry is dominated by centralized mining giants, simple users don't have any say in proposal changes. but what if we have a new mechanism called POP, proof of participance. As long as u donate your time, or computing, or mining hashrate, u can get rewarded. Just let we users instead of solely miners or developers decide and participate

Nobody is staying infront of you if you want to develop this new concept. There are other concepts except PoW, thing that holds with bitcoin now is that it is one of the most recognizable crypto and most trusted. Because with current hash rate it has held the bitcoin a good security and we simply know it can't be manipulated. Although we have centralization with miners and pools if you can call it that.

You could try to develop this, although I will be skeptic to follow you on this path. Show me wrong if you thing you idea is revolutionary.

What you are suggesting could be abused, with increase amounts of IOT devices you could potentially buy tons of them to try to "mine" and get participant reward or you could go and HACK as many devices as you can, which some people do nowadays to mine coins.

So instead of IOT, I'd go for Fog of internet. Unlike IoT devices, devices operating on the chain are distributed and cannot be identified, just like a foggy network. the network provides computational power to process data and can be analogized to GPU in an ordinary computer.

Simple8.1

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