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Title: What do you people think of this stupid idea just for fun XD Post by: Quartx on April 24, 2016, 09:53:44 AM Say I have a new idea for a new shitcoin.
This is how it works. Algo: Proof of Openness Similar to how proof of stake works but one wallet can only have one address. The chance of an address "mining" a block depends on the time that the wallet is open as well as total number of wallets open. Time per block generated depends on number of wallets open. Say 1 - 100 wallet open : Time per block: 10s Say 100 - 1000 wallets open : Time per block: 30s More than 1000 wallets open : Time per block : 1 minute and increases based on increasing function to a hard limit of 10 minutes per block. To prevent sudden increase or decrease in time per block generated, massive increase or decrease in wallet open rates will be limited by a check function every 5 blocks. Say from 100 to 1000 wallets open suddenly which is a 1000% increase, time per block will change from 10s to increase% for next (1/10 * percentincrease) number of blocks Which in this case: 10s block time will chance to 100s block time for next 100 blocks. Chance of your wallet generating said block depends on wallet open timing. Say wallet A open for 10 minutes : 0.001%. Wallet B open for 1 day: 0.01% Generation % based on an increasing function till a hard limit. Once a wallet generates a block, % decreases to 30% of original, ie : from 0.03% to 0.01% to allow other wallets a chance Every transaction will decrease the % of said wallet generating a block to encourage holding Coins per block depends on total number of wallets open too. 0.1 coins / block for First 1000 blocks no matter how many wallets open (Anti-wallet spam) After first 1000 blocks: 0 - 1000 wallets -> 10 coins/ block 1000 to 10000 wallets -> 50 coins/block 10000 to 50000 -> 100 coins /block 50000 onwards -> 200 coins / block Total coin supply : Nope, screw the total limit, more is better To prevent multiple instances of wallet running at once, using some mutex or other forms. Any thoughts on this stupid idea just for the lols? Title: Re: What do you people think of this stupid idea just for fun XD Post by: ICOcountdown.com on April 24, 2016, 09:58:39 AM I like the idea and it's not a stupid at all. This will probably improve the uptime of nodes which is really important for p2p networks. Have you got a developer for it?
Title: Re: What do you people think of this stupid idea just for fun XD Post by: Quartx on April 24, 2016, 10:00:25 AM I like the idea and it's not a stupid at all. This will probably improve the uptime of nodes which is really important for p2p networks. Have you got a developer for it? Nah, as I mention it is just an idea floating around my head with all the new "copypasta coins" flying around mentioning "we are an innovative coin, just look at the amount of crtlc-v we did " Title: Re: What do you people think of this stupid idea just for fun XD Post by: r0ach on April 24, 2016, 10:08:14 AM I stopped reading after about 3 seconds in when it was clear you did not address the Sybil attack.
Title: Re: What do you people think of this stupid idea just for fun XD Post by: ICOcountdown.com on April 24, 2016, 10:11:05 AM I stopped reading after about 3 seconds in when it was clear you did not address the Sybil attack. You can do it from a perspective of stake weight, like a normal POS system to counteract this though. |