Here are some potential weaknesses of the "Proof of Presence" consensus protocol:
Complexity: The living systems-based model of the consensus mechanism may be difficult for some people to understand, potentially reducing the number of potential users or participants.
Scalability: If the network becomes more widely adopted and the number of transactions increase, the network may face scalability issues, leading to slow transaction times and potential security vulnerabilities.
Competition: The market for decentralized consensus protocols is highly competitive, with several well-established protocols such as Proof of Work (PoW) and Proof of Stake (PoS). It may be challenging to compete with these established protocols and gain widespread adoption.
Security: The security of a decentralized network is only as strong as its weakest link, and any vulnerability in the consensus mechanism could potentially be exploited.
Economic incentives: The reward structure for participants in the network is tied to network traffic, which may not necessarily align with the interests of all participants. This could potentially lead to conflicts or issues with incentives.
Regulation: Decentralized consensus protocols and digital currencies may be subject to government regulations, which can change rapidly and unpredictably. This can create uncertainty and potentially impact the adoption and growth of the network.
These are some of the potential weaknesses of the "Proof of Presence" consensus protocol, but it's important to keep in mind that the actual implementation and success of the protocol will depend on many factors.
I appreciate the feedback I will do my best to first address your complexity, scalability and Economic Incentives concerns
In terms of complexity I am working on finding better ways of explaining it but I feel that it will come through practice and repetition. My current understanding of the network is still from a developers point of view so I will make an effort to format things for a wider audience where possible.
the network is designed to adapt to network conditions so in the case of increasing network scale and transaction volume the network is designed to modify block size to account for slower block times. Additionally, no time servers are needed as the network is designed to create and approve blocks as fast as it settles on proposals and receives transactions. If these mechanisms are not enough to account for node traffic additional node sockets can be used to accelerate proposal and transaction propagation rate.
In terms of economic incentives currency from my understanding is only valuable if people use it. If you treat the network as a micro economy you are essentially rewarding the businesses who are participating in that economy. More participants utilizing the system means the system is providing more value as a transactional medium. This increases the value of the network which is beneficial for everyone involved.
More business use= more places to spend = higher network value
