What does it take to create a cryptocurrency?

[gerardo5078]

Hi everyone!

Doesn't it happen to you that many times when you want to mine a coin it is impossible to do it alone and you are forced to do it through a pool to be lucky to get even a minimum percentage of a single block? That is why my question is if anyone knows where I can get information to create a new coin that everyone is capable of mining even if they had a GT 210 with a Pentium 2, or an RTX 3090 with a R9 5950X. The idea would be to make it PoW, but that it works like a pool, where all the blocks are mined at the same time by all the miners and the reward is distributed as a percentage to all according to the mining power that they have contributed to solve that block.

For example, each block has a reward of 100 coins. In the entire server there are a total of 20 miners. One contributes with 50 Mh/s, another five contribute 15 Mh/s each, 13 more contribute 5 Mh/s each and 1 contributed only 0.5 Mh/s.

In total they contributed 190.5 Mh/s, but the reward is not only for him who had a power of 50 Mh/s. Because he would receive 26.24671916 coins instead of 100 and the one that only had a power of 0.5 Mh/s would receive 0.26246719 coins. In this way we would all end up winning and not only the one with a rig with 10,000 ASICs would take everything.

Sorry for my bad english

[Castielli]

Well as the mining gets distributed once a cryptocurrency becomes more popular, a "normal" user wont have any chance mining valid blocks against people that run mining farms.
PoW solo mining without using a pool is only effective at brand new coins as the mining difficulty wont be high and have low total hashpower in general.

For coins powered by the Proof of Work consensus, you suddenly cannot get around mining pools. If using mining pools, I always recommend to regularly withdraw the earnings from time to time.

[gerardo5078]

Well as the mining gets distributed once a cryptocurrency becomes more popular, a "normal" user wont have any chance mining valid blocks against people that run mining farms.
PoW solo mining without using a pool is only effective at brand new coins as the mining difficulty wont be high and have low total hashpower in general.

Exactly, that's exactly why the idea would be to create a cryptocurrency that is distributed in percentage terms according to the mining time and the total power provided. That is why in my example I said that even so a person or pool contributed 95% of the power would not receive 100% of the size of the block since clearly others contributed 5% of that power. To be clearer, it could be said that if I contribute 30 Mh/s to the network and you 70 Mh/s, if the reward of the block is 50 cryptocurrencies. You would get 35 and I would get 15.

It would literally be creating a coin that even "solo mining" works like a pool where all users will receive a percentage of each block according to their contribution to mining power.

The difference with pools is that you would automatically receive the coins in your wallet just like when you "solo mine" normally and without commissions.