True Decentralized CryptocurrencyThis is a prototype of the reserve PoW cryptocurrency with equal remuneration for each user, with limited blockchain and a regulated final emission of new coins.
This self-regulated payment system with unlimited lifetime in a decentralized environment where each user is its owner.
This is a comprehensive solution to the key problem of Bitcoin.
What is true decentralization?Real or true decentralization in relation to cryptocurrency as an innovative payment network and a new kind of money determines that each participant of such a payment system within the framework of the algorithm of mutually beneficial consensus is equal completely with respect to any other participant of this system. Where any relative inequality is a defining sign of false decentralization, as distributed or actual centralization, i.e. what becomes beneficial to a certain center automatically becomes not profitable or useless to everyone else.
Centralization - it is a profit for the minority due to the mistakes and ignorance of the majority.
Decentralization - it is a profit for the majority due to of the mistakes and ignorance of the minority.
The lifespan of centralized or falsely decentralized currencies is limited to the final resources of a particular (last, distributed) center.
Problems of Bitcoin and other cryptocurrenciesProgrammed collapse of the fiat money bubble. No fees - the death of Bitcoin.
Desire for centralization - ASIC and the endless growth of blockchain.
Solutions: 1. Atomic miningMining a transaction through its fee and reward users for their work.
2. Limited blockchain sizeMoving UTXO from the old transaction block to the new block.
For that movement a fee of 1% for the first year and 10% for all subsequent years is charged.
3. New difficulty transaction blockAtomic mining transaction hashes are used to calculate the difficulty of a transaction block.
With a large number of transactions in the block and at atomic transaction hashes commensurate with the target difficulty of the block, the attack of 51% is impossible.
4. EmissionTransaction fees replace the block's emission. Emission of new coins stops when the sum of transaction fees in the block becomes greater than the estimated value of the emission algorithm for this block.
With weak demand, the total number of coins ceases to grow, with high demand issued new coins.
5. Distribution of fees (and emissions) of the transaction blockThe amount of fees of the current transaction block is distributed between the miners of this block and the transactions of another block, which is lower in height by 5 positions from the previous one. These transactions divided into random number of parts by algebraic progression. From each part of only one transaction, defined at random, rewards are paid by random multiple of the value of its fee.
Random variables - are constants. The hash of the block whose transactions are allocated rewards determines them.
GithubSource -
https://github.com/neiros/TDCMiner -
https://github.com/neiros/ccminerPool -
https://github.com/neiros/yiimpExplorer -
https://github.com/neiros/explorerBlock Explorerhttp://explorer.neiros.work/Sitehttps://neiros.github.io/EN.htmlMain topichttps://bitcointalk.org/index.php?topic=2254304.0RoadmapThe independent development phase is complete.
Next:
• Fixing bugs as they are detected.
• Professional optimization of code and algorithms as it spreads.
Expected resultsThe TDC consensus algorithm stimulates the use of cryptocurrency for its direct purpose - as a means of payment for goods and services. Encourages openness and honesty of States, companies and individuals, limiting their excessive greed and desire for absolute power. Solves the problem of ASIC by economic and ideological methods. Contributes to the disappearance from the market of shitcoins, forks, etc. tokens, ponzi schemes, scams and related spam.
