Is this true? I agree, it needs to be addressed and fixed.
This is by design and it is intended to prevent blockchain bloat/spam attacks
Removing that would cause far more harm than good. It is just something to keep in mind when projecting future value because it serves as a powerfull weight from above. I mentioned it because it is related to what I will write later.
In order for all willing participants to generate interest there has to be enough space in blockchain to accomodate their PoS blocks. Yacoin with it's one minute block target (~1440 blocks per day) leaves enough "slots" for 720 PoS blocks considering current "no two consecutive PoS blocks" rule. That is - if miners allow it and they don't refuse to mine on top of PoS blocks in order to maximize their profits with up to 720 additional PoW blocks per day.
Leaving that aside, we get to 262800 (=720x365) honest stakeholders with one wallet each, generating interest once per year . If each stakeholder opens his/hers wallet once per month, than we get to 21900 (=262800/12) - let's call them individuals who were able to generate interest every month this year.
Now what happens, if there are more participants or we all divide/split wallets so thay generate PoS blocks with higher frequency (as we all do now)?
Eventually those 720 "slots" per day will get used and from then on PoS blocks with higher consumed coin age will replace those PoS blocks with lower values at the tip of the chain.
This will lead to high amount of orphans, and it will also cause some small stakeholders not being able to generate interest in reasonable time, because even if they find PoS block, there's a chance it will get kicked of the tip of the chain by richer stake miner with higher coin age.
Someone with bad intentions and big wallet could split his funds and create many many PoS blocks so he would occupy most of those "slots".
And it would cost him nothing to do that (except being online and leaving wallet open).
Here I am only exposing one side of bigger issue with current implementation, because it's crucial to be aware of it in order to understand my proposition.
Other PoS cryptocurrencies with higher block spacing (less blocks per day generated) will have this issue manifested even more, and soon enough only richer portion of stakeholders will manage to generate interest simply due their higher coin age and lack of enough free "slots" in blockchain.
This is PoS issue in general and it was designed that way for security purpose ...
My previous post wasn't ment as a speculative investment hint, but I am using it here as input. Considering it's content, I would contend we should raise minimum stake amount, so that no less than 1YAC is generated with each PoS block. That means someone with 20 coins ( = ~2...200$ according to my presumptions from previous post ) could generate 1 PoS block after 1 year. Currently coin age growth is capped at 3 months. This cap would have to be raised then, but another security feature should be added.
We could make PoS hash function result dependent not only on coin age, but we could also amplify N factor when dealing with blocks holding smaller coin ages thereby increasing resource requirements.
In addition to that, consecutive PoS blocks could be made possible again, if subsequent PoS block would fit much stricter criteria, for example exponentially larger coin age plus higher N factor.
I am talking about refactoring of PoS system, so that it becomes more resource demanding. Then we need to give PoS blocks back trust value that is higher than PoW block value. This value could be somewhere in the range of 2-1000x ( = f(coinAge,Nfactor) ) of average PoW block value. It should be high enough so that miners wouldn't ignore PoS blocks and build their PoW-only chains for maximum profit.
In addition to that, PoW difficulty should step up incrementally when there are no PoS blocks near last n blocks. Every PoS block would bring next PoW difficulty back to lowest allowable level. That would discourage PoW miners from ignoring PoS blocks.
Theoretically YACoin is already less vulnerable to PoS issues than other hybrids, because each hash consumes 16MB of memory now (and soon 32MB). It is not so simple to just create thousands of wallets and than build a PoS only chain, because it takes some time (and memory) to hash 1000 scrypt-jane hashes.
This is just an outline of my idea. It is in no way perfect, but I had to get it out