How can you guarantee that this revival will gonna last long than the old one?
Based from your quick road map, as you presented it, the content is very general.
So I don't think you have the rock solid foundation here to sustain this project.
You can always refute such impression of mine. But hopefully, you have the capability to deliver results.
I think I can
I have the experience of creating 4 coins already and I know more now what works and what dosen't
4 coins? impressive. I'm only aware of Charlie Lee needing to create one that ya'll forking. And Satoshi only need one to birth a whole universe of forking. So, why 4? What happened to these 4 that you now need to launch a fifth rather than fixing one of those (assumed) failures? Where they forks too?
Because i keep learning. They failed because I am broke and don't have a lot to put for marketing, exchanges listings, etc.
People lost interest pretty fast and mining staled.
But I think this is the one. First, LitecoinCash is good. Well developed. More secure than other coins. And the hive concept is just... fun !
DarkGravityWave :
Basically, it's an advanced difficulty adjustment algorithm, with difficulty adjustments every block.
Quoted from their white paper :
2.3. Dark Gravity Wave
The algorithm we have chosen to adjust mining difficulty target in Litecoin Cash, is the
popular and successful Dark Gravity Wave[6] algorithm first conceptualised by Evan
Duffield and implemented in the Dash currency. In brief, it acts as a critically damped
harmonic oscillator to respond effectively to logarithmic scale changes in mining power
over short periods, as well as roughly stable and constant hash-rates.
Dark Gravity Wave uses multiple exponential moving averages and a simple moving
average to smoothly adjust the difficulty. This implementation resolves possible exploits
in Kimoto Gravity Well, a related earlier work, by limiting the difficulty retargetting to 3
times the 14 period EMA difficulty average. Our implementation of Dark Gravity Wave
allows the difficulty to adjust upwards by 300% or downwards by 60% every block.
This was chosen to allow Litecoin Cash to gracefully cope with the rapidly growing,
potentially unstable and certainly unpredictable hash-rate dynamic of a new network
undergoing community adoption, as well as to respond effectively to any future shifts in
mining power from or to the network.Some more information on darkgravitywave and difficulty adjustments from LCC's whitepaper :
4.2. Effective Difficulty Adjustment
To give consistent mining performance a cryptocurrency must make some effort to respond to changes in network hashing rate4
. This is particularly true of a new currency and especially so when there already exists significant potential hashpower available. For
this reason, the mining difficulty should be recalculated as frequently as possible, in the
case of Litecoin Cash at every block, and a robust retargetting algorithm should be used,
in this case, Dark Gravity Wave.Also, of course, the hive. Helps protect against 51 % attacks ( a bit like bitcoin and ethereum planed to do ), and at the same time, doubles the number of transactions that can be included in a pow block. And if there are transactions that dosen't make it in the pow block, they can get in the associated hive mined block.
AND... the hive is like putting aside money in a bank account to make it profit. It is also a democratised coin, they are close to their community, they got 4 great developers and maybe more now, idk, and they premined less than 1 % of total supply ( 0.65 % ) , which in my opinion is fair if they want a chance to compete against giant cryptos like bitcoin and ethereum.
LitecoinCash went up a lot in the last 10 days. Among 2061 cryptocurrencies listed on coinmarketcap.com, they are ranked 210 at the time i write this. And their coin launched only 11 months ago.
So all in all :
I am more experienced now
A scrypt/hive hybrid fork of LitecoinCash, with faster block time, would be new in the market, and the hive concept would then be available to scrypt miners out-there, not only for sha256 miners.
Got many marketing proposals, exchanges negotiations are already underway, etc.
.... and it's not because the other coins failed that this one will. I strongly believe that it's an excellent idea. 1 year ago I knew very little about ICOs, premines, and all that... Those dead coins made me learn. A lot. And I learn fast.
My goal is not to make a shit tons of money and scam people. I want to be transparent to all and tell the simple truth.
Now I won't lose too much time refuting and answering the scam accusations that always comes with new coins ( believe me I have gone through it ! ). I'll just do the best I can do to build up a nice community, and go forward remembering lessons from the past.
And btw, the premine will be 0.65 % also. Not 16 % or 4 or whatever. Remember, I am broke. So success will mostly come from my social and programming skills.
Slowly but surely, the bird makes its nest.
