 |
March 17, 2014, 02:59:33 PM |
|
Hi all! I'm glad to post here.
This post is just a translation of other post made by myself into spanish section:
In this post i would like to comment an idea i had a few time ago. The idea it's about an altcoin and the way it should be mined. Before continue, i just wanna make some clarifications:
-This is simply an idea, i don't know the exactly way how timecoins should work
-I have zero skills on programming
-I'm not sure if it is technically possible to do.
I'ts a simple idea. To mine this coin you only need time instead a huge amount of computational power. The block time should be about 5 minutes approx. In time block, one way or another, the network generate a random number. In fact gamble is "The hashing power" in this coin.
Older miners take block transaction fees, and the miner who "generate" the same ramdom takes the block reward.
Transaction fees would be share between a small percent of miners, being shared proportionaly to the amount of time mining on the network.
Example:
(In this example, the amount of miners who share the fees is the 5% of the network)
There are 100 miners in the whole network. Each one generates a unique ramdom number, this number should never be reapeated again. At the moment of block generation, the entire network generates just a ramdom number previously generated by the miners. The miner who generated this ramdom number, takes the block reward.
Miner 25 previously generated 12345, and the network generated together ramdomly the same number. So Device 25 takes the block reward.
Transaction fees are taken by just the 5% of the miners. The miners with long "Life" in the network. It should work like this.
Miner 1 is the oldest, with 500H of life.
Miner 2 haves 200H of life
Miner 3 haves 120H of life
Miner 4 haves 100H of life
Miner 5 haves 80H of life.
In this case, fees are 10TMC so they will be shared like this:
Miner 1 obtains 5TMC
Miner 2 obtains 2TMC,
Miner 3 obtains 1.2TMC
Miner 4 obtains 1TMC
Miner 5 obtains 0.80TMC
This is how the generation of timecoins would work. In this way the network rewards the working age instead huge hashing powr.
I just wanted to comment the idea. I just wanna know your impressions and if anybody is capable or interested in developing it.
Hope you enjoy, thanks for reading.
|
