|
Title: What would you consider to be the ultimate digital currency? Post by: mczarnek on November 18, 2015, 03:14:38 PM I'm thinking:
Anyone who wants to can mine with equal mining power, with no monetary investment what so ever. Semi-private accounts because after all you are doing a Proof of Person, if you can prove to the network you are a person, then there is a link to real world. This should lead to maximum decentralization and therefore trustlessness Private accounts possible Fast transaction confirmations, under about a second. Extreme blockchain trimming, blockchain never exceeds 10 MB on your hard drive, and only process local transactions, meaning you never process more than a few transactions a second, also leading to decreased bandwidth. Quantum Proof Some form of chargebacks that are trustless, meaning Mt.Gox type situations can be reversed. No Nothing at Stake problem Sound about right? Disagree with any of it? What would you add to the list? Title: Re: What would you consider to be the ultimate digital currency? Post by: onemorexmr on November 18, 2015, 03:21:09 PM I'm thinking: Anyone who wants to can mine with equal mining power, with no monetary investment what so ever. This should lead to maximum decentralization and therefore trustlessness Fast transaction confirmations, under about a second. Quantum Proof Some form of chargebacks that are trustless, meaning Mt.Gox type situations can be reversed. Fixes the Nothing at Stake problem Sound about right? Disagree with any of it? What would you add to the list? i'd add: anon, blockchain size, tail reward (means mineable forever), good and secure mobile support, cheap transactions, high tps (able to buy coffee with it), preferably no need for light-clients because its (and will be forever) light enough nothing at stake problem: not interested. i dont want any kind of pos. at least no reward for staking please. quantum proof: imho not important yet. the algos which are quantum resistant seem to be too big atm. Title: Re: What would you consider to be the ultimate digital currency? Post by: mczarnek on November 18, 2015, 03:43:53 PM What do you mean quantum resistant algos are too big? Have you checked out NTRU? Thoughts? I figure if starting from scratch might as well use it.
Anyway, updated top post. Little thing, I think that we as a community should stop saying anonymity, and start saying privacy. Same idea, different connotation. And.. so far I can do everything on the top list with the new cryptocurrency we're building ;) We've figured out how to do a true Proof of Person.. call me crazy but it's been reviewed by a few people and I'm convinced we can do it. Regarding block reward, I'm thinking second years block reward is bigger than the first and I agree with a tail reward. It'll basically be 2% inflation for the currency paid to miners.. that is ideal inflation and it is being paid equally to all, so everyone wins. The only 'catch' is that these Proofs of Persons require about 200 MB on your hard drive. And privacy will take a little while to implement, we'll get there though. |