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idk where to promote this so...
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I was more referencing proof of stake, which has that vulnerability(especially with smaller POS coins). as opposed to Proof of Work, which has plenty of problems that my theory does not have, such as energy requirements becoming so great that the cost to produce a block is more than the value of the block reward. with my implementation you need to beat a level in a game to make a block. the recommended implementation is to set a minimum txn/block ratio.
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Both Proof of Work, and Proof of Stake are vulnerable to "bad-block" attacks. with proof of work, mining a block and changing your balance in the state to say 1 trillion... well that would be bad for that coin. with proof of stake, it is a bit harder, you would need 51% of all of the tokens(so mainly newer coins are vulnerable) to make said block. However, in what I will be calling Proof of Sender, the cryptography of a block would make it physically impossible to make new balance without removing some, or having an exeption(i.e block rewards) this is called Conservation of Coins or CoC(lol). but, the balance of an address is inaccessible without a private key. if it is possible to make an inaccessible private key, verifiable by the blockchain without revealing the key outside of the key's owner's computer(it is, I have made an implementation), then it would be impossible to make a fake block in the proper format(or at least a block with an invalidly altered state), the worst someone could do is exclude a transaction from a block. this can be fixed with a transaction minimum, so a block would need "x" amount of transactions on it to me created. if you want to check out the implementation, go to https://github.com/jordan69420/DefiSpace/releases/tag/663994. keep in mind that the implementation uses a game to stop people from excluding transactions, not a tx minimum(you can't exclude and play at the same time lol)
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this coin could get expensive(but probably won't) although if it does... it could snowball. Here's why
I made it as an implementation of the thought experiment. In theory if demand of a scarce recourse goes up, so will it's price, so what I made was a rare recourse with artificial demand. to do this, I limited the gas for each block to a VERY low amount, and I increased the difficulty to mine it. This creates both scarcity, and demand, thus IN THEORY driving up the price. This has not been tested with an active experiment, merely passive observation. I want to put this to the test. Thus GasCoin, for now, it is a cheap alternative to ethereum, or even ethereum classic or Expanse for that matter. but each block can only hold so many transactions(less than an ethereum block), so, if people develop on GasCoin, that means demand, and scarcity + demand = value.
WHY YOU SHOULD DEVELOP WITH GASCOIN
if people do develop, and get users, they will earn GasCoin, also, the first 10 developers get free GasCoin to make dapps. There is also that if I am right and to be fair that is a big "if", you would get a lot of future returns on that GasCoin you earned.
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I recently made a new ethereum network with a very high gas limit, so you can run a ton of computations using the network's ether, I am currently trying to get listed on southxchange.
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I made a new coin, on the goerli testnet. designed to turn the network into a second ethereum network with FREE ETHER. the token is called UUSD, because it will always be worth less than one dollar, to raise funds for this token, I am selling it for 0.5$, once I have it listed it will only be created by a purchase of one dollar in bitcoin, or any other somewhat stable cryptocurrency on exchanges.
if you are interested in buying UUSD at a discount, simply message here on bitcointalk me at Jordan663994
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A coin that I will sell a large amount for 1 dollar in bitcoin so that it is always less than a dollar; it is backed by ether on the goerli testnet this token is only avalable on the goerli testnet, I am trying to give GoEth value
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