Bitcoin Forum

Here is a good idea for a coin that will be useful and valueable:

LOGINCOIN


A coin who sole purpose is for login and authentication.

Here is how it would work:

1. Give it a good name.
2. Configure the altcoin to produce at least 84 million coins.
3. Set the blocktime to at least 30 seconds but not less than 20.
4. Put a wallet on the server host.
5. Request a specific amount of coins for login from a registerd wallet address for each login attempt.
6. Once funds recieved allow user login.
7. Return coins back to address when logout or timeout period expires.
8. Request coins in small fractions, I.e 0.036752 LGN (symbol for logincoin)
9. Return coins promptly.
10. Allow users to set number of confirmations for security vs. Speed of login
11. Use as primary or secondary authentication for websites.
12. Cannot be hacked by government.

Cool idea!
Got any code to go with it? If not, I wouldn't use the [ANN] tag.

Good name: Auth token

 ;D

Just clone any fast altcoin. I.e feathercoin, etc...

If you build good features into the coin, it will become valueable too.

Add in good security features that can output to java, sql, microsoft, linux, oracle, etc...  if you do this i can guarantee the coin will have value.

I don't get it. What benefits does this offer as an authentication method?
And what stops the authenticating server from stealing your coins by not returning them on logout or session expiry?

Why would anyone use this?
It's a different concept from what we previously had, but still.