Looking over that list, I do not see anything on it at all that is even relevant.
For one thing, you can go look at what values existing coins already have.
Nothing on your list is even an alternative at all in any meaninful sense. If there is any item on that list that is not actually the exact thing some coin already has, rather than being an alternative to anything any other coin has, it certainly does not jump out at me.
Thus the entire list looks to me to be a list of all the non-alternative things all the existing coins already have covered-to-death, nay even covered-ad-nauseum.
So, no, not alternatives, just more of the same old shit that has already been done to death and beyond.
If you actually were interested you need not even have posted, you could instead have found out which existing coin has which of your listed features and set to work pushing those coins to see which ones you are able to popularise easier than which others and similar experiments.
As it is I almost feel as if I am seeing the same old willful ignorance of experiments already in progress on the part of someone who is not really interested in the experiments nor the data obtained from the experiments but is, rather, looking at the salaries experimenters are getting, salivating, and psyching up to be bound and determined to fire up yet another experiment to try to rake in such a salary even if that means duplicating the effort of an identical experiment already in progress.
In short, you do not really seem motivated by a desire to understand which existing coin is doing well why but, rather, by a desire to launch yet another scam without the sheer fact that it is nothing but yet another scam lowering its potential take.
-MarkM-
I understand your criticism and understand that there is so much junk rolling around on these forums. I want to make a currency just not only to gain understanding, but to eventually make a lasting alternative as well. The points I provided were supposed to be a basis to expand off of, not the true and only features of the coin. That was just basically the alpha stage of *planning*.
I think the most important part is having something unique. While Litecoin may not have been the first scrypt coin (I believe there may have been one other before it), it is the most popular scrypt coin by far, so in essence its "unique" aspect is being scrypt.
From there, what does your coin bring? What new addition or feature is included that makes it different from Bitcoin or Litecoin? Sure, your coin may be adopted and somewhat successful short-term without a unique addition, but if you hope to make a long-lasting altcoin, you should include something original.
That's why I came to ask. I want to know what features people would like/not like to see.
Its name.
I can't ever see any of these alt coins taking off with some of the names people are giving them.
I agree. Once the final features and fundamentals are all laid out I want to brainstorm a name with people. The coins coming out literally have JUNKnames.
How about a new hashing algorithm, that is neither sha-256 nor scrypt?
I've looked into incorporating SHA-512 or some completely different encryption method altogether. The mining code would have to be completely rewritten, but is an easy step to be overcome. A different algorithm completely could be one of its main caveats so it won't be ruled out.
How about a new hashing algorithm, that is neither sha-256 nor scrypt?
I think some people have considered that. I know one of the problems would be that the miners would all have to be re-written. Besides being different - I believe - a new algo offered no real advantage in the long run because eventually people would adapt to the new algo... but I could be wrong. I thought I read it somewhere.
You are correct about the mining code, but a new algorithm could offer many things. SHA-512 (if im thinking correctly) could make it harder to mine, or a different algorithm altogether completely (based off the way it encrypts data) could completely change various factors. What if there was an algorithm that required research and analysis to crack a block instead of brute force? That way massive machines wouldn't have such an overwhelming advantage.
I have more points to add to yours.
* solve the blockchain bloat problem with 60 second block generation rate, perhaps using some sort of balance consolidation block like once every month.
* use PoW/PoS system but also solving the hot wallet security issue.
* no insta mine, difficulty at start should be at least 2 and no rapid reduction in mining reward.
* pre announcement of exact start-up time.
* and most importantly, a catchy name. Too many altcoins will fail just because of poor namechoice.
1. Blockchain bloat won't be an issue because in comparison to Bitcoin, each block will have 1/10 of the amount of transactions. Each block itself shouldn't have too much overhead data also.
2. I will look into that PoW/PoS system, as I am unfamiliar with it. Care to give me some resources to look at?
3. No instamining will happen, and I think the difficulty might actually be too low. I'll start it at 2.5.
4. Pre announcement would be a must. Maybe 2 weeks in advance.
5. The name is one of the most important features. The name Bitcoin just works. Litecoin just works. All these other ones are loosely imaginative.
I am going to look into the other coins more and see if I can come up with some stuff that is completely new. Thanks for this criticism and keep the ideas flowing! I will add to the first post the details we come up with.
