Bitcoin Forum

I have been thinking of creating an ERC20 standard token for token generation event, and eventually move to a mainnet.

Let's assume I want to implement a DpoS consensus mechanism for my project. I initially want to have a circulating supply of 1 Billion which will then increase to 2 Billion over the course of time. The consensus mechanism being Dpos.

So can I implement Dpos before mainnet launch so that delegates can benefit by staking tokens when the tokens are still in ERC20 format which can be later swapped for a 1:1 at mainnet launch ( includes the staked tokens ).
 
Or would I have to switch to mainnet to implement any consensus mechanism? Does that mean the supply cannot increase ( no staking mechanism )  after creating ERC20 token?

Please help.

 

 

this prob belongs in altcoin discussion not mining ;)

anyways, of course you can do that AFAIK, it would be the same as an independent chain PoS
you would just code into the smart contract conditions in which the coins are paid out
pos style: a user hodls 35000 tokens, code that if they continue to hold them, they receive say 2% over 3 months or w.e you want
the contract then pays itsef out

PoS could be coded in easily into an ec20 token imo if you know solidarity, just make sure to test it! dont want another DAO haha

Pos coded before for ethereum network but nobody tried dpos so far (as far as i know)

It would be interesting but at some point it is meaningless too. Because validators won't forge anything really so people would vote just by popularity? That doesn't make any sense but it can be a nice experiment.

In principle, many things can be imitated using smart contracts. Recently there was an imitation of mining: Sound Money Coin. Imitation POS was also a long time ago: POStoken, Rebellious, Minereum. You can simulate masternode, read the information of the early period about Elixir (ELIX), when he discussed the loan chain. In a token environment, these loan chains would perform the same economic function as a conventional masternode. That is, from the point of view of the economy, the masternode freezes (withdraws from circulation) part of the coins and generates profit. But each of them belongs to one owner. I believe that it is possible to make such a smart contract, even without loan chains, when the tokens of participants will be frozen on their addresses with the condition of providing "votes" to some Central address that will generate for them the payments in tokens specified in the contract in advance. There can be several such simulation centers if you specify them in the smart contract.
Only all these projects are dead, because these are just fun, but really no one needs. However, study Elixir, maybe it will help you, as it is the closest to what you want to do.

POStoken，I remembered this project. It was very hot at the beginning. I voted for it last year. I have already participated. It seems to have disappeared. It is very frustrating. There are still many similar cryptocurrencies, but basically failed.

I don't think dpos consensus is possible on ethereum tokens but you can use PoS algorithm from postoken to do what you want. Here is github of PoSToken.

https://github.com/PoSToken

It might be easier to fork a coin that is already pos and then rebrand it to your needs. lisk is dpos and was forked by onzcoin so it is possible, but depends on your coding skills

I belief everything is achievable provided you have the right knowledge and the will to pursue it.
Dpos can be possible on the ethereum network but it shall be easier to implement this on the main net, users shall be paying for network fees which might be very discouraging.
You can get expert on this forum by creating request in the service section if you do not have the knowledge.