Title: Truly Localizing a Crytpocurrency: Ideas? Post by: Dreamweaver on May 22, 2013, 12:44:32 AM I've been bouncing ideas on how to accomplish a true localization of an altcoin's network to a certain community, however this is coming from someone who is no expert in networking and network infrastructure. I have a bare understanding of the composition of bitcoin's network (nodes communicating through TCP). But the biggest challenge, it seems, in creating a local cryptographic currency is how to limit mining to a specific geographic area. I'm sure if I were to state that such a currency would only be used in a specific town, people here probably wouldn't care too much and throw ridiculous amounts of hashing power at it, try to open an exchange, and dump the coin, which has been done with several alts already (even though localization was none of their intentions). The more I think about it, the more it points to the use of a central authority, which I know plenty of people on here, including myself, aren't very fond of. However, I'm still open to that idea if that's what has to be done.
A couple thoughts I've had include:
Also, feel free to chip in on whether this idea is even worth pursuing or not. :P Title: Re: Truly Localizing a Crytpocurrency: Ideas? Post by: Dreamweaver on May 24, 2013, 02:28:46 AM bump :P
Title: Re: Truly Localizing a Crytpocurrency: Ideas? Post by: shakezula on May 24, 2013, 03:12:06 AM Quick/Dirty, just create a seed node that only accepts incoming connections from the .xx country code on the coins ports...
Title: Re: Truly Localizing a Crytpocurrency: Ideas? Post by: anderl on May 24, 2013, 03:27:49 AM Quick/Dirty, just create a seed node that only accepts incoming connections from the .xx country code on the coins ports... can by fakes through proxies. Title: Re: Truly Localizing a Crytpocurrency: Ideas? Post by: SRoulette on May 24, 2013, 03:35:49 AM Local will mean centralized, but if you have no problems with that - perhaps make the network require realID to join, with the centralized node keeping a copy of local citizens RealID's.
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