Going over options for next step for CoExistCoin. Our current source is buggy and will require work. It's fine. X11 algorithm is still a good algo to use. When all is working good our transactions are amongst the fastest out there. If we update current code no coin swap is required, but it means yet another fork in blockchain.
If we choose to completely re write with a new algo and unique code for coxst, then a coin swap will be required.
I'm not the biggest fan of this but the positives would be a new clean blockchain and we could eliminate gpu asic mining. (Although if we keep X11 and allow gpu mining it means more fees to charity) Another positive it would eliminate all burned coins to in the total amount of COXST shown on most stats sites.
Regardless of which direction we go the main focus will be using COXST as currency that helps the less fortunate in humanity. Half of pow mining will go to foundation fund. Small fees in pos staking and a small bump in tx fees will go to 1 wallet address that is a paper wallet. That will be open and posted for all to see.
I value everyone's input on this. Is there an algo you like??
This will be a major change but for what our goal is it is an important one. I really want to get this perfect.
Thank you always,
Phil Lima
I dont know of any known problems with the X11.
I dont see the point of changing algo either... now that pow spread of coins is basicly over, i dont see the point of changing the whole system with aim on more mining.
Also a coin swap is never popular.
The perfect scenario is keeping the chain and history, just adjust the pow rewards to very low.
If its asics or gpus.. who cares, its a small amount of coins shared anyway.
A swamp will make people reveal their coins and send them around, which doesnt feel safe.
Also there might be a nightmare to get exchanges in on this.
Im not too technically into the mechanisms of pow-pos hybrids.
What happens if no one mines? Will pos move the chain alone, or is pow needed for it not to stop completely?