Slice - a fairer coin - (Can we build a community based coin from scratch)

[jonoiv]

The other day I was trying to compile, many altcoins on a raspberry pi, it didn't work (various errors, missing dependencies).

The only ones I could get to compile hassle free were Feathercoin (NeoScrypt) and Novacoin (scrypt).

It got me thinking of a new coin that really would be something original and fairer than the existing coins out there.  The only coins that gain true traction are the original innovative coins.  (with the exception of doge)

While messing around with my raspberry pi, it dawned on me...(and please correct me if this has already been done) but;

What if we could make a coin that is only mineable on an Arm6 or Arm7 CPU... (although this is probably impossible and anyway could be emulated )... It could / should be possible to make a coin that would only accept a certain number of hashes per second per IP address.

Many coins suffer from the problem of the big well funded miners, coming in and swamping the small time miner.  Each node on the network would be limited, meaning the only way to scale would be in parallel, this by it's very nature would create a mining base that is very decentralized, and in theory economical.  In time mining programs could evolve to run on 1 core of an android phone for example.

This would make the coin unique, because the problem of altcoin centralization over time could be drastically reduced.  By limiting the  hash power to IP addresses, there would be no CPU, GPU, FPGA or Asic farms, or even for that matter single desktops, because the most efficient mining tool would be the low power single board computer like a Raspberry Pi.  A single 5 watt computer per miner, and every miner would in theory have an equal share of the coins.  This would render pools useless... because they would not be needed.

No point setting up mining farms, without an individual IP address (ipv4) per raspberry pi (which would be difficult).  So it means miners with little money can get an equal slice of the daily coin distribution with just a single raspberry pi....  It doesn't matter that the total hash power is low, because everyone is in the same boat, Preconfigured Raspberry Pi's could be sold to those with little knowledge. 

If I had the skillz, and the time I would make this coin, because it's something new and innovative.  Because there are a lot of Raspberry Pi fans, and a lot of people that want a more fair coin where the big boys don't take the lions share.

a true, low power, easy algorithm coin, with cheap equipment, bypasses the centralization problem, no noise, no fuss.  And electricity per month would cost about $0.50 (a month) per person / IP address.  So using cheap VPS is possible but the raspberry pi would be much cheaper to run as IPV4 IP's cost about $1 a month.

The coin would also be less prone to forking because each miner is automatically a connection on the network,  The command line version of the coin would be forced on each miner making a strong network that when established would be almost immune to a 51% attack.

I don't know if it's possible, but if it had some real features, I believe it could be a top coin.

I know there are 1000's of alt coins out there, but this would have an instant advantage over 95% of them, and would be an instant classic.


The main features of the coin would be;

• Hash power limited to specific amount for each unique IPV4 IP address
• To be able to reach that limited hash power using a small and efficient computer (raspberry pi)
• To be able to offer plug and play (pre-configured) devices to novice miners
• To possibly limit IP rages (blocks of IP addresses) to deter data centers
• Maybe integrate some kind of exchange feature like counterparty or ripple
• Fast but low reward blocks to insure a more even distribution due to the fact pools would be obsolete.

If anyone out there sees the potential please reply.  Of course, anyone could simply take this idea and roll with it, but If it were born out of the community, we should work together to make a coin like this.  A truly fairer coin that everyone can get involved with.

If this has already been done, then please let me know.  If it's impossible please explain why.

The name for this idea was, Slice - As in a slice of the Pi.

 

[DrGrid]

Creating a protocol to limit the number of hashing cycles per IP does not work with crypto. Miners just look for solutions on their own with the provided data of the last block. I can't think of a solution for this that would not make the coin fully centralized. However Gridcoin does this partially already, but not in the typical sense of hashing. The Gridcoin protocol uses a Proof of Stake Block as a timestamp for a proof of BOINC work. This BOINC work is however intentionally limited to a certain amount per client, in a way that makes too much work unprofitable. BOINC is easily run from a PI and many BOINC projects support PIs as well.
Integrating Ripple in a Cryptocurrency is not possible, they are two different things. But again Gridcoin is attempting this with the usage of distributed data Warehouses and BOINC DACs.
Fast Blocks are not necessarily a good thing. Look at Bitshares for an example of too fast blocks.
I think what you are rather looking for is a coin that is made for FPGAs, so it can be preprogrammed into the circuit and is therefore limited to any kind of other usage. Such an algorithm has been attempted before, but most attempts had to be abandoned due hash collisions.

[jonoiv]

Creating a protocol to limit the number of hashing cycles per IP does not work with crypto. Miners just look for solutions on their own with the provided data of the last block. I can't think of a solution for this that would not make the coin fully centralized. However Gridcoin does this partially already, but not in the typical sense of hashing. The Gridcoin protocol uses a Proof of Stake Block as a timestamp for a proof of BOINC work. This BOINC work is however intentionally limited to a certain amount per client, in a way that makes too much work unprofitable. BOINC is easily run from a PI and many BOINC projects support PIs as well.
Integrating Ripple in a Cryptocurrency is not possible, they are two different things. But again Gridcoin is attempting this with the usage of distributed data Warehouses and BOINC DACs.
Fast Blocks are not necessarily a good thing. Look at Bitshares for an example of too fast blocks.
I think what you are rather looking for is a coin that is made for FPGAs, so it can be preprogrammed into the circuit and is therefore limited to any kind of other usage. Such an algorithm has been attempted before, but most attempts had to be abandoned due hash collisions.

I thought counterparty had already implemented a ripple style in their crypto.  Anyway that was just an afterthought.

It must be possible to to measure hashes per second of each node and any node over the threshold is given a rejected block should they solve the current block.  The hashing continues until the next miner under the hash per second limit solves it.   Or the solved block is distributed between all other miners, if the block solver is over the specified hashes per second. 

Surely this is possible?