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Title: Equality coin - request for comment Post by: drico on April 26, 2014, 02:02:24 PM Hi All,
I'm just throwing an idea of a new coin not anymore based on mining. The point is that if for bitcoin as the initiator of this movement it was quite desirable to count on people's greedyness to launch the movement, we are now in the middle of bad cycle, generating cryptorich who are also rich in fiat to buy those expensive asics. So for the movement people makes coins with X11, you name it, crypto algorithm but probably there is a more simple mechanism. this is to work but the main idea would be : each block contains the list of IP of the connected nodes in the network ( or a random list, or the ip seen by the node ) At the block N the node, that will generate the block N+1 will include the IP ( or a list of IP ) in the block of the next node that is allowed to generate a block and get the block fee. the IP should not be in the same AS number than the node of the N block and maybe at a minimum of X network hop. The randomness is still something to work on here. So the idea is that as long as you are part of the network, you have an equal chance than everybody else to get a block reward. No mining, no premine, no Ipo etc... I guess some others have tought about it before me, but I didn't find any talks about it. I don't really know but I don't think it is really similar to POS. what do you think ? Title: Re: Equality coin - request for comment Post by: sonysasankan on April 26, 2014, 02:07:01 PM So basically just have your wallet open and keep receiving coins?
Title: Re: Equality coin - request for comment Post by: drico on April 26, 2014, 02:29:48 PM in server mode yes, you have the same chance than anyother node to be allowed to generate a block and get the block reward
Title: Re: Equality coin - request for comment Post by: researchsupportcoin on April 26, 2014, 02:30:15 PM So basically just have your wallet open and keep receiving coins? That would be cool :D Title: Re: Equality coin - request for comment Post by: qiwoman on April 26, 2014, 03:09:58 PM I like it so would it work with a crapola laptop or I would need to upgrade my hardware? ;D
Title: Re: Equality coin - request for comment Post by: drico on April 26, 2014, 05:11:38 PM well maybe your nokia phone could be enough :)
Title: Re: Equality coin - request for comment Post by: sonysasankan on April 26, 2014, 06:33:53 PM well... the coin would be worthless then right? I could have a hundred virtual machines all open with a random IP generating coins. Any there would be no trading if there is no limitations on getting the coins. It has to be difficult to get, and only then will there be a person willing to pay for it.
Title: Re: Equality coin - request for comment Post by: drico on April 26, 2014, 07:08:08 PM No because your virtual machine IP's will be in the same AS number, so we can manage that an AS number / network range cannot be picked if it has already been in the X previous blocks. Of course you will have more luck than the guy's in the same network range than you but that doesn't mean that you get all the coins by having a lot of IP's.
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