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 Author Topic: Robin Hood Proof-of-stake  (Read 676 times)
remotemass
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 March 02, 2014, 03:12:21 PM

Robin Hood Proof-of-stake

We hereby propose a modality of proof-of-stake that may be more fair than the conventional one, as it does not necessarily make the rich richer.
In this modality, that we call Robin Hood proof-a-stake, there is an address, that we call base address, which typically will be used to crowdfund a cause that is managed according to constituent principles of the currency, and for every other address it is calculated how much has that address ever sent to the base address, and it is found out how much percent of the current balance of that address does that correspond to. We call that percentage the quota percentage of the address. Note that that percentage, the quota percentage, can be more than 100% if the money that was ever sent to the base address is more than the present balance of the address.

That percentage, the quota percentage, is then multiplied by what we call the real percentage which is how much percent of the currency in circulation does the current balance of the address correspond to, for us get the dividend percentage, that is the percentage the address will get from transaction fees dividends.
So, as was said, we get what we call the dividend percentage multiplying what we call the quota percentage by what we call the real percentage.
Here is an example:
Imagine A address has a thousand units of the currency and B address has just one unit of it. And that to this date A has give in terms of its quota percentage 150% of their current balance. And that B has give in terms of its quota percentage 300000% percent of its current balance.
And that there are a million units of the currency in circulation.
So the quota percentage of A is 150%; the quota percentage of B is 300000%; the real percentage of A is 0.1%; the real percentage of B is 0.0001%.
So, multiplying the quota and real percentage of A and of B, we get:
The dividend percentage of A: 15%; and the dividend percentage of B: 30%.
While B has a thousand times less currency than A, it will get two times more dividends than A, because he has gave two thousand times more, than A did, to the base address. (So far, B would have gave 3000 units of the currency and A only 1500)

Note that the dividend percentages will be relative percentages, so you will have to divide it by the total sum of dividend percentages to get the absolute dividend percentages.

Please give it a peer review and discuss it in this thread.

Would be great there was a torrent file of all referenced materials of the paper: "How to Build Time-Lock Encryption" by Tibor Jager. And having its magnet link published on bitcoin blockchain!
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HorseCoin
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 March 02, 2014, 08:05:01 PM

proof of stake or proof of steak?  cause i want damned food!!

investment is a great staple
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