Join p2pool, no fees, you receive transaction fees too, no trust required, no downtime

deepbit=so much fail

ne problem I saw with the SolidCoin v2 protocol is the fact that no one actually pays for any resources on the network besides transactions. Why is this a problem? Well every "address" or "account" actually consumes memory, disk space and processing power of all the running nodes. Then when someone does pay for a transaction, all the fees goes to the miner, when the truth is every node on the network has just as much burden when it comes to sending transactions and storing them. It is unfair.

Another problem was the fact that the system itself isn't self cleansing. That is to say, if someone sends 0.0001SC to a new account that account is there for life consuming resources with no purpose in a lot of cases (ie spam). So our solution to this is a decay and interest model. Here is how it works.

1) For every account (ie unique address) on the network, there is a small daily fee. (likely to be around 0.0025 SC or a quarter cent)
2) All the "decay fees" are added up and then given back to every account, depending upon their percentage of SolidCoin holdings. ie there are 2.8 million coins right now, if you have 28000 then you have 1% of all the SolidCoins and will get 1% of the daily account fees. So a certain amount of SC in your account will ensure you pay no daily fees.
3) Transaction fees won't go to the miners anymore but the same decay/interest model. This way everyone who is invested in SolidCoin benefits, including the miners, for including transactions
4) Once an account hits 0 it is removed from nodes memory, saving them CPU and MEMORY usage. It can of course come back if that user decides to later use it.

It's important to realize that you only need a single account now due to our improved transactions, so the only reason you'll want to use more accounts is for anonymity or other personal purposes.

We will definitely be implementing a dead account acceleration , currently it's planned that if you don't use an account for 6 months, every month after that the fee doubles and interest stops. So by month 12 of inactivity, the fee is still only 4.8 per month, by month 21 of inactivity, the monthly fee is ~2400 . So even if you go away for 12 months on a large account, you're not going to lose any money, you'll have gained due to the first 6 months interest. Probably even by 18 months you'll still be in positive territory. But after that it quickly recycle any dead accounts and everyone benefits.