research for new altcoin

[programmer-frank]

I plan to create a new altcoin. What features do you like for it? Some ideas I have:

- eco-friendly, so proof-of-stake for the consensus algorithm, like WAVES and Cardano already uses, and Ethereum plans to use
- quantum safe, like QRL
- high number of transactions per second, like one million per second as Cardano can do
- smart contracts, for creating your own tokens, assets, apps etc.
- low transaction fee

I also want to distribute it to as many people as possible, ideally to every person on Earth. How could I do this? Is there some altcoin who did this? How did they manage to prove the identity of a person, so that not one person creates a bot for it and gets lots of shares? This should be the coin for the 99%, and not just for the 1% rich investors

Another feature should be a voting mechanism. For example when a conventional signing algorithm is used instead of a quantum safe algorithm (for example because otherwise the high transaction rate wouldn't be possible), and the algorithm needs to be changed when quantum computers become available. Then there could be some proposals, and people can vote for one proposal, weighted by their coins. This will allow transparent democratic decisions for the development process, implementing what the majority wants.

The voting mechanism could be also used for example if there was a security problem or bug, and to decide if it needs a hard-fork to rollback the blockchain, like with the Ethereum DAO disaster. But instead of just a few people deciding it, it would be decentralized as well. Such bugs happen and if the majority thinks it is a good idea to undo it, then this would be the right thing to do. The voting mechanism could be just a smart contract.

Other features like NFTs etc., can be implemented with smart contracts as well.

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[cabron]

You are just planing a project that has already exist for a long time, if you have to create a token it's necessary to make it unique that an investor can distinguish your project that has a real purpose. You just named them in this post.

Anyway, if you will really create the project, there is no way you can distribute them to people as many as possible but to airdrop it to the holders of a widely distributed project like Cardano. Or distribute it to all facebook accounts that will verify when claiming. I think Stellar did this before. There may be a lot of cheaters in this process.

[programmer-frank]

Good idea with the Facebook accounts. Maybe also use all the other big social networks, like Youtube and Twitter, so everybody could get some coins. Of course, would need to verify the account creation date.

You are right, there exist coins for all the features I listed. But I don't think there is no coin which combines them all. Isn't this sufficient for a successful coin? Any ideas for a unique new feature?

[terciduk123]

You just need to package your ideas more neatly in a paper, become the basic framework of the project, then look for people who can support your project ideas to be more interesting.
In addition to the current DEFI project, projects that are currently in demand are projects about games that have a play to earn feature.

[lumierre]

I find your idea pretty nice and everything is quite reasonable, but what do you think about the Blockchain trilemma? You said that it would be decentralized and scalable (because of Proof of Stake), so I can conclude that it will be insecure. As when blockchain works on Proof of Stake, a hacker can grab just one percent of the system and everything will be under the threat, compared to projects that work on Proof of Work, where a hacker had to grab 51% of the system.

[blue Snow]

I also want to distribute it to as many people as possible, ideally to every person on Earth. How could I do this? Is there some altcoin who did this? How did they manage to prove the identity of a person, so that not one person creates a bot for it and gets lots of shares? This should be the coin for the 99%, and not just for the 1% rich investors

You can make the airdrop as another altcoin did. there are too many altcoins out there that were done but you have to not be so optimistic, you will get fail and you will be lost the money. KYC is one to prove for identity person but is not good the solution. If you have enough time, you have to read all about altcoin sessions on this forum, you will get your solution and you will prepare to step back.

[barabeku]

I like your ideas and it will be a big pleasure for me if thanks to my comment, one more good token will become better. Concerning your question about the whales. Nowadays projects support a function of protection against big investors. It means that the system bans transactions that are bigger than 2%, for example. But actually what can deter them from buying it in different transactions or from different wallets? I don’t know.

[joniboini]

If your goal is to create another platform for fast transactions, scalable networks etc, I guess you're out of luck. Too many competitors in this area and you need to be really unique to survive. That being said, why do you have to create a new one? The idea of profit-sharing is not new either, and that doesn't sound like a great feature that can attract users to use your platform. Profit-sharing should not be your unique feature, since if you don' have a product no one will bother with your token.

I suggest you start by finding a problem in the crypto space that is unattended or has little competition first. Start from there and then plan your product. Don't just create a token for the sake of it, else it's just another shitcoin.

[RussianEnglishTranslation]

I plan to create a new altcoin. What features do you like for it? Some ideas I have:

- eco-friendly, so proof-of-stake for the consensus algorithm, like WAVES and Cardano already uses, and Ethereum plans to use
- quantum safe, like QRL
- high number of transactions per second, like one million per second as Cardano can do
- smart contracts, for creating your own tokens, assets, apps etc.
- low transaction fee

I also want to distribute it to as many people as possible, ideally to every person on Earth. How could I do this? Is there some altcoin who did this? How did they manage to prove the identity of a person, so that not one person creates a bot for it and gets lots of shares? This should be the coin for the 99%, and not just for the 1% rich investors

Another feature should be a voting mechanism. For example when a conventional signing algorithm is used instead of a quantum safe algorithm (for example because otherwise the high transaction rate wouldn't be possible), and the algorithm needs to be changed when quantum computers become available. Then there could be some proposals, and people can vote for one proposal, weighted by their coins. This will allow transparent democratic decisions for the development process, implementing what the majority wants.

The voting mechanism could be also used for example if there was a security problem or bug, and to decide if it needs a hard-fork to rollback the blockchain, like with the Ethereum DAO disaster. But instead of just a few people deciding it, it would be decentralized as well. Such bugs happen and if the majority thinks it is a good idea to undo it, then this would be the right thing to do. The voting mechanism could be just a smart contract.

Other features like NFTs etc., can be implemented with smart contracts as well.

You will need to hire a blockchain engineer to do all of that, it won't be cheap. Your best bet would be to fork NEAR or Stellar and add quantum resistance or consider forking cellframe and using a L2 to speed up transactions.

[Macadonian]

How are you going to make it eco friendly? I guess you will be using Proof of stake instead of proof of work? POS is a flawed design and has already been exposed lots of times.

[DU18]

I plan to create a new altcoin. What features do you like for it? Some ideas I have:

- eco-friendly, so proof-of-stake for the consensus algorithm, like WAVES and Cardano already uses, and Ethereum plans to use
- quantum safe, like QRL
- high number of transactions per second, like one million per second as Cardano can do
- smart contracts, for creating your own tokens, assets, apps etc.
- low transaction fee

I also want to distribute it to as many people as possible, ideally to every person on Earth. How could I do this? Is there some altcoin who did this? How did they manage to prove the identity of a person, so that not one person creates a bot for it and gets lots of shares? This should be the coin for the 99%, and not just for the 1% rich investors

Another feature should be a voting mechanism. For example when a conventional signing algorithm is used instead of a quantum safe algorithm (for example because otherwise the high transaction rate wouldn't be possible), and the algorithm needs to be changed when quantum computers become available. Then there could be some proposals, and people can vote for one proposal, weighted by their coins. This will allow transparent democratic decisions for the development process, implementing what the majority wants.

The voting mechanism could be also used for example if there was a security problem or bug, and to decide if it needs a hard-fork to rollback the blockchain, like with the Ethereum DAO disaster. But instead of just a few people deciding it, it would be decentralized as well. Such bugs happen and if the majority thinks it is a good idea to undo it, then this would be the right thing to do. The voting mechanism could be just a smart contract.

Other features like NFTs etc., can be implemented with smart contracts as well.

I think your idea is quite good and indeed creating an altcoin is not a difficult thing right now, but the problem now is that we need large enough funds to list these altcoins on the market and after the altcoins are listed of course we must continue to develop these altcoins until we can known by many people and one of them forms a clear fundamental to the altcoin so that the altcoin will have a strong community.
many of my friends have created several altcoins or tokens like your idea, but in the end the altcoins just become trash without any further development from those who created them.

[GreatArkansas]

Creating another new altcoin these days is extremely difficult, with all the current huge competitors and Ethereum next updates are huge like current competitors may get rekt.
Good to know that you are interested in creating another crypto, but my advice is another feature is/are problems that other altcoin can't be solved could be your key or winning recipe.

[bamb]

The coin you want to make must be a super coin.  I don't think a single coin should do all that you have listed,  you should rather focus on idea that is unique to your coin and the said Idea will stand out your coin in the sea of newly created coin.  As for distribution,  just let it be fairly distributed,  distributing to whole wide world is like building castle in the air!

[breathlessz]

The idea of the altcoin you are about to create is very good. But it looks like someone already made it as you mentioned. Also, you have to compete with big projects like ETH, BSC, MATIC, etc. If I may give a suggestion, create an altcoin that has products, and these altcoins are not only traded on exchanges, but can also be used in everyday life such as paying electricity bills, ordering food, or being used for games.

right, altcoins that have products will certainly be used not only for trading and investment. By providing convenience and good service, of course, this altcoin will continue to grow. so many altcoins are only looking for profit at the beginning, as if they don't think about their development later, so that altcoins eventually die by themselves

[mobtc]

Your idea is very good. There are various altcoins appearing every day, many of which are unreliable. I hope you can make a novel altcoin that people are willing to invest in, so that many people will participate. Your name will be remembered by many people, looking forward to your success

[programmer-frank]

How are you going to make it eco friendly? I guess you will be using Proof of stake instead of proof of work? POS is a flawed design and has already been exposed lots of times.

But Ethereum is planning to use PoS. And Waves already uses it, with $1.6 billion market cap at the moment, so can't be that flawed, otherwise it would be worth $0 now.

[fortune1002]

i liked your ideas and I think you should make a full article on your project which you want to create so many people can know about it and suggest you more thing. Maybe you will meet some more people which will help you create your project. Best Wishes for your project.

[programmer-frank]

As for distribution,  just let it be fairly distributed,  distributing to whole wide world is like building castle in the air!

What is a fair distribution? I've seen with other altcoins that they are considered "fairly distributed", if there is no pre-mine, when the project goes live. Not sure how this can work with a PoS coin. Maybe everybody who runs a node could get a fixed amount of coins, when chosen. It might be safe enough at the beginning, if only one node per IP address is allowed, because it would be kinda expensive to use a lot of IP addresses (of course, only IPv4 address would be allowed for the initial process for the fixed amount, because they are rare. IPv6 could be easily created a lot for cheap). Later the fixed amount is negligible when it was running for some time, because then the most reliable nodes would stake more coins based on their previously earned coins. Or the fixed amount could be disabled after some block count as well.

But I think an initial distribution based on social network accounts would be fair as well. How to include China? Most social networks are blocked there. So maybe I should include Renren and Sina Weibo as well, this would add more than half a billion potential users.

[programmer-frank]

Have seen similar promises of new coins with low delivery, they realise later how tough the deliverables are. Most of these new coins with high technology expectations require higher funding and great developers, Do you have that kind of fund?. Developers are usually stolen with attractive high price from existing projects.

I'm a programmer with 30 years experience, I plan to start the project myself. Of course, I can't implement all the features alone, this would need many years. Maybe it could be developed in the spirit of other open source projects, like Linux, where other people contribute features.

And right, probably a good idea to have a new unique feature and clear goal. Then I could start with this as well to test it, and later add the more complicated things like smart contracts. On the other hand, if I have good smart contracts, nearly every unique feature could be just implemented as a smart contract

[cdog]

And right, probably a good idea to have a new unique feature and clear goal. Then I could start with this as well to test it, and later add the more complicated things like smart contracts. On the other hand, if I have good smart contracts, nearly every unique feature could be just implemented as a smart contract

Now there are many new projects with almost the same concept as existing projects in terms of use cases, roadmaps, etc. Every new project that is launched must be with a unique concept and I see the potential in you to realize a new project with a very unique concept. ideas, you can also adopt the NFT trend to increase your project rating.