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What kind of coin we need ?
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Topic: What kind of coin we need ? (Read 511 times)
Salivan
(OP)
Full Member
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Activity: 195
Merit: 102
DiMS dev team
What kind of coin we need ?
May 22, 2013, 05:23:47 PM
#1
Hi
below I gather some of features of a new coin I hope I will see at some point in the future:
- finite amount, irreversible( can be lost ) - those we already have
- totally anonymous (no public ledger)
- no transaction fee
- instant I mean something like 1sec or less
- no auditors ( no cost of hardware )
What are your thought on the topic?
sor.rge
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Re: What kind of coin we need ?
May 22, 2013, 05:28:26 PM
#2
Quote from: Salivan on May 22, 2013, 05:23:47 PM
- totally anonymous (no public ledger)
- instant I mean something like 1sec or less
- no auditors ( no cost of hardware )
Those are very interesting properties, I'm sure a coin with any of them will attract attention. Unfortunately "instant" probably is equal to centralization, see
http://en.wikipedia.org/wiki/CAP_theorem
Salivan
(OP)
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DiMS dev team
Re: What kind of coin we need ?
May 22, 2013, 05:37:27 PM
#3
Quote from: sor.rge on May 22, 2013, 05:28:26 PM
Quote from: Salivan on May 22, 2013, 05:23:47 PM
- totally anonymous (no public ledger)
- instant I mean something like 1sec or less
- no auditors ( no cost of hardware )
Those are very interesting properties, I'm sure a coin with any of them will attract attention. Unfortunately "instant" probably is equal to centralization, see
http://en.wikipedia.org/wiki/CAP_theorem
I am not sure if all nodes need to know everything at given time to work correctly, if not surely next generation coin can be instant, or at least in sense of human perception
defaced
Legendary
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Activity: 2198
Merit: 1014
Franko is Freedom
Re: What kind of coin we need ?
May 22, 2013, 05:48:44 PM
#4
Those ideas are really good, and if all information traveled at the speed of light to every computer in more of a multicast way, then instant could be possible, but the sad truth is, there is still people using dialup speeds in the world, and most ips are ipv4 which doesnt effectivly support multicast like v6 does. But because we use the hardware that we use to transfer bits to each other it makes instant harder. Thats why bitcoin has 10 minute block times to help with latency of the entire network. Now, say, in the future, i think we are looking at a different picture. It is always best to develope for the future and never for the now.
Fortune Favors the Brave
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sor.rge
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Re: What kind of coin we need ?
May 22, 2013, 05:50:37 PM
#5
Quote from: Salivan on May 22, 2013, 05:37:27 PM
I am not sure if all nodes need to know everything at given time to work correctly, if not surely next generation coin can be instant, or at least in sense of human perception
Yes, that doesn't prove that "instant coin" is impossible, just some food for thought.
seleme
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Activity: 2772
Merit: 1028
Duelbits.com
Re: What kind of coin we need ?
May 22, 2013, 05:50:45 PM
#6
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