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Author Topic: Full list of truly decentralized altcoins.  (Read 1711 times)
mamahdedeh
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June 04, 2019, 06:43:46 PM
 #61

Disclaimer: This list is for my personal use only and not intended as investment suggestion. Do your own exhaustive research. By reading this post you accept to take your full responsibility for any decision you can make.



I'd like to create a list of truly decentralized altcoins.

My criteria are:
- open source code
- no ICO
- no presale
- no premine since the beginning
- no instamine
- not a token
- decentralized organizational structure
- no "owner" or individual/group/company holding the majority of the stock
- a non moderated announcement on the platform not controlled by the coin owners/community/devs
- no roll-backs or patches to recover coins,
- no connection issues soon after launch
- no last minute ANN
- traded on a trustless crosschain exchange

Please mention a currency that in your opinion fits into above criteria.
If you don't agree with criteria we can discuss them here as well and your opinion is welcome.
 
The result of this research:
- seems like at the moment there is no currency fitting into above criteria. Once BarterDex will release their v2 DEX we'll have new candidates to evaluate.

Here is the list of the coins that are compliant to all the above criteria except the last one:
- Monero (traded on Bisq)
- Ravencoin (tradable on BlockDx, traded on Crypto-bridge)
- Dogecoin (tradable on BlockDx, traded on Crypto-bridge)
- Terracoin (tradable on BlockDx)
- Grin (tradable on Bisq)
- Bitshares (traded on its own "DEXes")
- Aeon (potentially tradable on Bisq)
- Slimcoin




The posts you provide are useful and can be one of the considerations. But I recommend that you make an analysis according to what you believe yourself. Self-analysis will certainly bring satisfaction because we know which is best for us and which is not good for us. Indeed, there are now many coins that are decentralized, but we must be selective in choosing these coins. Not all decentralized coins bring good benefits so we must be able to distinguish truly useful coins and coins that are limited to shit coins only. We have to be smarter in becoming crypto currency players so that we can take advantage of opportunities right.

helpix.world (OP)
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June 04, 2019, 06:54:00 PM
 #62

Grin? or TurtleCoin hyped by McTurtle ?  Cheesy
TurtleCoin was on my list, I'll have a look into it in the next couple of days. Grin is already added.

And why you need such altcoin when Bitcoin fulfill all your requirements and it is a certainty that he will not die?
I'm not speaking about BTC here, because BTC is BTC, but everybody would like to know "which one is the next bitcoin"
helpix.world (OP)
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June 04, 2019, 06:56:53 PM
 #63

Indeed, there are now many coins that are decentralized, but we must be selective in choosing these coins.
Agreed 100%
The goal of this research is to provide the full list so everybody can make its own selection quickly.

Not all decentralized coins bring good benefits so we must be able to distinguish truly useful coins and coins that are limited to shit coins only.

I'm working on criteria. If we feel we'd need to add criteria to define a "shitcoin" I'm open to discuss the idea.
However I'm of course not taking into consideration dead coins here.
Inosend
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June 04, 2019, 06:59:51 PM
 #64

I don't understand when the term DECENTRALIZED COIN is used. I don't believe there is a decentralized coin as long as there is a dev who upgrades of the network. I only understand that there are privacy coins but decentralized is what I don't believe. No coin is open sourced and managed by a third party aside the developer.

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helpix.world (OP)
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June 04, 2019, 07:05:25 PM
 #65

I don't understand when the term DECENTRALIZED COIN is used. I don't believe there is a decentralized coin as long as there is a dev who upgrades of the network. I only understand that there are privacy coins but decentralized is what I don't believe. No coin is open sourced and managed by a third party aside the developer.

I feel like Monero, Raven, Slimcoin are examples of decentralized model of development. Of course it can be even more decentralized. Just consider the Linux model.
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June 04, 2019, 09:10:32 PM
 #66

Great to see Slimcoin being (deservedly) added to such list.

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June 05, 2019, 02:12:02 AM
 #67

Thanks for that effort! I created a similar list but with less strict criteria last year, but as there was no feedback, I didn't continue my research.

In my opinion the swap/DEX criterion isn't that important to consider a coin "decentralized", because on open-source atomic-swap exchanges every coin supporting CLTV and CSV can be added without problems.

Interesting observation about BitShares. While I knew that the distribution was based originally on Protoshares, I was sure that they had an algo change somewhen where a kind of "late premine" diluted the original supply. I am not sure however, but there was a controversial discussion in the community.

Slimcoin by the way at this moment isn't traded at any DEX I know of, but thanks to the addition of CLTV in the last update an update of an existing atomic-swap DEX would be trivial.

I would add the two "oldies" Namecoin and Peercoin to the list. Peercoin could be controversial; for a long time it had a centralized checkpoint syncing service, but since version 0.6 this service - which continues to exist - isn't part of the consensus so every user can choose to follow it or not. Development model is decentralized in both coins and neither had insta- or premine.

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helpix.world (OP)
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June 05, 2019, 03:12:29 PM
 #68

Thanks for that effort! I created a similar list but with less strict criteria last year, but as there was no feedback, I didn't continue my research.
Unbelievable! Your list is very similar to this one! Who knows why there was not so much interest at that time. Maybe people are becoming more aware about the issues with centralized coins.

In my opinion the swap/DEX criterion isn't that important to consider a coin "decentralized", because on open-source atomic-swap exchanges every coin supporting CLTV and CSV can be added without problems.
I think if the coin is actively traded on a Dex that means that its community is enough mature to understand the importance.

Interesting observation about BitShares. While I knew that the distribution was based originally on Protoshares, I was sure that they had an algo change somewhen where a kind of "late premine" diluted the original supply. I am not sure however, but there was a controversial discussion in the community.
I thought I did a very deep research on Bitshares, but the information about them is very difficult to retrieve. I'll research on this possible "late premine" if you can give me some link to read about I'd be happy.

Slimcoin by the way at this moment isn't traded at any DEX I know of, but thanks to the addition of CLTV in the last update an update of an existing atomic-swap DEX would be trivial.
It looks like it's not that easy to trade on a true DEX as it requires a lot of resources of computer and is not that comfortable. The moment Slimcoin will be traded on a true DEX I'll put it in my main list, which at the moment is empty as you can see.

I would add the two "oldies" Namecoin and Peercoin to the list. Peercoin could be controversial; for a long time it had a centralized checkpoint syncing service, but since version 0.6 this service - which continues to exist - isn't part of the consensus so every user can choose to follow it or not. Development model is decentralized in both coins and neither had insta- or premine.
Yes NMC and PPC are on my list and I'll analyze them in the next days in order to decide whether they are truly in or out.

Thank you very much for your precious contribution!
d5000
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June 05, 2019, 07:24:23 PM
 #69

I think if the coin is actively traded on a Dex that means that its community is enough mature to understand the importance.
That's true, but I think decentralized trading via atomic swaps is still a very small niche. So I doubt that many members of a crypto's community are really aware of that. Maybe you could divide your list into two tiers of decentralized currencies:

Tier 1: Mature decentralization (with DEX trading)
Tier 2: Basic decentralization (without DEX, but fulfilling all other requirements).

Quote
I thought I did a very deep research on Bitshares, but the information about them is very difficult to retrieve. I'll research on this possible "late premine" if you can give me some link to read about I'd be happy.

I have searched a little bit and I think what I was remembering was this:

A few delegates are "paid delegates", who are people such as developers working for bitshares.  They are also elected by shareholders.  For example, Toast (Nikolai) was the first person to be elected as a paid delegate.

Paid delegates get 50 BTS instead of 1.5 when they create a block.  However, they are performing valuable services for bitshares such as working as a developer.  (If they werent, shareholders would not vote them into a paid position)
While this is technically not a "premine", it is an additional supply dilution added to the Protoshares-based supply. The proposal wasn't imposed by the developers in a strict sense, as the DPoS delegates had to vote to implement it, but the Bitshares devs had a big DPoS voting power, so they essentially could impose most of their proposals. It's the same problem in nearly all DPoS currencies: they tend to have a strong power concentration even if they're "formally" decentralized, thus I have problems to regard them really as "decentralized".

Nevertheless, I regard Bitshares as a very interesting project and it's much more decentralized than coins like Ripple or ICO-based coins like Iota. But I would consider it more centralized than, for example, LTC or even Dash.

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jackflag
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June 05, 2019, 07:38:10 PM
 #70

Thanks, very useful advice.  But I am sure that you need to choose the project you really trust.  But do not forget about the risks.
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June 06, 2019, 10:34:11 AM
 #71

Thanks, very useful advice.  But I am sure that you need to choose the project you really trust.  But do not forget about the risks.
It's not the list of the coins I really trust. It's a list of coins that are compliant to the criteria established in the beginning of this thread.
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June 06, 2019, 10:42:26 AM
 #72

I think if the coin is actively traded on a Dex that means that its community is enough mature to understand the importance.
That's true, but I think decentralized trading via atomic swaps is still a very small niche. So I doubt that many members of a crypto's community are really aware of that. Maybe you could divide your list into two tiers of decentralized currencies:

Tier 1: Mature decentralization (with DEX trading)
Tier 2: Basic decentralization (without DEX, but fulfilling all other requirements).

I'd say the two lists I have (the first one is still empty) is similar to your idea.

Quote
I thought I did a very deep research on Bitshares, but the information about them is very difficult to retrieve. I'll research on this possible "late premine" if you can give me some link to read about I'd be happy.

I have searched a little bit and I think what I was remembering was this:

A few delegates are "paid delegates", who are people such as developers working for bitshares.  They are also elected by shareholders.  For example, Toast (Nikolai) was the first person to be elected as a paid delegate.

Paid delegates get 50 BTS instead of 1.5 when they create a block.  However, they are performing valuable services for bitshares such as working as a developer.  (If they werent, shareholders would not vote them into a paid position)
While this is technically not a "premine", it is an additional supply dilution added to the Protoshares-based supply. The proposal wasn't imposed by the developers in a strict sense, as the DPoS delegates had to vote to implement it, but the Bitshares devs had a big DPoS voting power, so they essentially could impose most of their proposals. It's the same problem in nearly all DPoS currencies: they tend to have a strong power concentration even if they're "formally" decentralized, thus I have problems to regard them really as "decentralized".

Nevertheless, I regard Bitshares as a very interesting project and it's much more decentralized than coins like Ripple or ICO-based coins like Iota. But I would consider it more centralized than, for example, LTC or even Dash.

I have to apologize I'm afraid Bitshares is not fitting into our criteria. Thanks to you I've made a more deep research and I've found this article, where we can read as following:
Quote
There were a few issues with the PTS launch which, while not born of malice, did point to inexperience and mismanagement. First, mining was announced on bitcointalk only an hour prior to the official launch time, which is not best practice. Additionally, it came to light that, apparently due to an insider starting to mine ahead of time, Mr. Larimer himself began mining early. Taken together, this led to a feeling – not without some merit – that ProtoShares was attempting a sneaky “soft” premine, in which insiders, in this case community members and the inner circle, were given a head start to grab coins with minimal competition.

and also Bitshares wasn't only redeemed from Protoshares, but also from Angelshares:
Quote
As a result of the shaky PTS launch, Mr. Larimer announced “Angelshares” (AGS), which was the same concept as PTS, but instead of mining, anyone could simply buy shares. AGS holders would be eligible for 10% of future BitShares and subsequent DACs launched, and offered the network additional liquidity as well as a larger community base.
So we can say it was a kind of ICO or pre-sale, which puts Bitshares out of our list.

Thank you very much again for your hints!
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June 06, 2019, 10:50:46 AM
 #73

Grin? or TurtleCoin hyped by McTurtle ?  Cheesy
And why you need such altcoin when Bitcoin fulfill all your requirements and it is a certainty that he will not die?
The announcement for TurtleCoin was made on bitcointalk two months after the launch.
Their original announcement was published before launch on yuki.la/biz
Do you know yuki.la?
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June 06, 2019, 10:52:14 AM
 #74

An interesting article that explains why decentralization matters: http://linuxfinances.info/info/lsf.html
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June 06, 2019, 10:54:38 AM
 #75

I'd like to create a list of truly decentralized currencies for myself and for any one who'd be interested in.

My criteria are:
- open source code
- no ICO
- no premine
- not a token
- decentralized development structure
- no "owner" or individual/group/company holding the majority of the stock
- traded at least on one true DEX (with some volume there)

Please mention a currency that in your opinion fits into the above criteria.
The criteria can be discussed here, so your opinion is welcome.

I myself did my homework so I have a list of the currencies that may fit into this criteria but I'd like the list to be created from scratch by the forum members.

Since you are the one that want to create a decentralized platform list, I don't see any reason why you will begin to ask us to tell you name of coins we think it's decentralized, how will you know when a coin is fully decentralized when you haven't studied it's code on github to see how it was developed, you can only create a list of truly decentralized blockchain only if you can be able to read the github code of all the blockchain project we have in existence.

I was surprised at his question too. The question shouldn't be asked when he is the one educating us. Anyways, I think I got enlightened from his post. Now is to go into research and find out more.
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June 06, 2019, 11:13:59 AM
 #76

I would like to start to understand why you select coins on such strict criteria? It seems to me that most of these criteria are not necessary and interfere with the full development of the coin and this limitation will never allow such coins to get into the top-10 in capitalization.

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June 07, 2019, 08:15:37 AM
 #77

I would like to start to understand why you select coins on such strict criteria? It seems to me that most of these criteria are not necessary and interfere with the full development of the coin and this limitation will never allow such coins to get into the top-10 in capitalization.

When you have much choice you need to apply some criteria to orient yourself in the multitude. For example, if you get into a shop that sells let say two hundred models of mobile phones you need to make yourself a question what is it that you need in order to choose one that suites you most. While in the cryptoworld we have tens of hundreds coins to chose from so the criteria need to be quite strict.
By other hand your criteria are not necessarily the same as mine, however the fairness of the coin's launch seems to be an important aspect for many people involved in the crypto.
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June 12, 2019, 10:36:44 AM
 #78

I think Peercoin is in, the purpose of their initial centralized checkpointing wasn't to manipulate the market later or to give to a group of people an initial advantage. They are also not using centralized checkpointing any more.
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June 16, 2019, 12:20:46 PM
 #79

Namecoin is in!
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June 16, 2019, 02:48:29 PM
 #80

It is possible that veil might come up the list of the OP, perhaps very soon as it will be fully unveiled and tested by the public. The only difference between Veil and Doge which fits in perfectly well to the list, is that Veil has an owner, while Doge does not have, except it is totally relinquished.
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