[Dynamic Proof-of-Work and Proof-of-Stake Reward System]

[cUfZz8]

i have thought of something new. just now an idea? possibly a new idea for proof-of-work combined with proof-of-stake systems?

i way to dynamically reward both proof-of-work and proof-of-stake by setting time periods (much like bitcoin halvings, but dynamically change). when users of the blockchain network mine coins via pow system and as they mine, the difficulty goes up, then the pos system's difficulty would go down, vice-versa. (this could initially promote the miners to move their mined coins towards staking their coins via the pos system, vice-versa). the only thing i have no time or the knowledge to think up on how when pos difficulty goes up and pow difficulty goes down, to incentivise them to move their coins towards pow to mine? im stuck on this part, because their needs to some other system in place to do this (a missing piece of the puzzle?) and i have no ideas/knowledge or technical skills and iam not a coder, to progress this idea of mine

is there a such system available?

A Dynamic Proof-of-Work and Proof-of-Stake Reward System?

Any other blockchains which have the pieces of this puzzle?

(conversate in here in this forum thread which i have created today. you can share ideas and talk more broadly about this idea with each other).

[FatFork]

Any other blockchains which have the pieces of this puzzle?

As far as I know, Decred (DCR) was the first blockchain-based cryptocurrency that uses a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) mining system, and arguably remains one of the most noteworthy examples.
It might be worth your time to explore how their consensus mechanism works: https://docs.decred.org/governance/overview/

[cUfZz8]

Any other blockchains which have the pieces of this puzzle?

As far as I know, Decred (DCR) was the first blockchain-based cryptocurrency that uses a hybrid Proof-of-Work (PoW) and Proof-of-Stake (PoS) mining system, and arguably remains one of the most noteworthy examples.
It might be worth your time to explore how their consensus mechanism works: https://docs.decred.org/governance/overview/

mmm.. interesting.

update: a new update on decred has switched to blake3 gpu mining algorithm i heard. has 89% rewarded to pos stakers and only 1%?!! to pow miners? and 10% to the decred treasury.

why is it only 1% to miners, why does stakers outweight the miners?

don't get me wrong, i like the idea of decred but i don't understand much of it, as of now iam new to this coin decred.

thank you for your input much appreciated

[cUfZz8]

iam proposing different mechanism. a dynamic fluid rewarding system between pos and pow in a simpler method and easier to understand in simpler blockchain terms to the basic end-user.

lets pretend and imagine that i was a coder and i created my own novel cryptocurrency technology with my own design. below would be my imaginary whitepaper haha

an example from me:

if a new coin were to show up after today, with it's own genesis block, starting from zero. and has a pow+pos intergration build into its protocol. now lets say we start from the genesis block and the first pow/pos rewards starts at 50/50 ratio (to be fair from the beginning of the chain). and it will have a dynamic pos/pow reward system enabled (which im proposing to be implemented in the future blockchain protocol) form genesis block 0 (to be fair from the beginning of the chain, started at 50/50 pow/pos).

coins emission and distribution: the coin should be initially be mined by miner via pow form the beginning (because mining is the most important role to blockchain) as this is the fairest way to distribute coin to the people, as difficulty climbs on the pow side (slowly but surely), the ratio of the pow ratio should dynamically change and be at now 25%-pow reward and 75%-pos reward. (and the rewards will continue to go low if the miners decided to continue mining on the network etc. and so on and so on).

once the miners decide their percentage of pow rewards are too low (25%-pow reward), they will then the miners will always have an option to shift the mined coins manually/automatically into pos staking. (which will have a reward of 75%-pos and this should attract the miners to stake their coins)

think of this mechanism as a 'collateralization', i would name my coins pow/pos system "pow/pos collateralization mechanism", hehe.

when the difficulty of staked coins in pos system rises (because of too much coin supply is being staked in the protocol), to a ratio of 25%-pos rewards and 75%-pow rewards. then we either need to invent another purpose for the stakers and to attract them to unstaking their coins and moving them somewhere (to earn rewards). maybe they can manually/automatically burn the tokens for another token in the protocol. or they could be forced and become unstaked or they can either be able keep their staked coins staked and wait for pow difficulty to increase, to a ratio of 75%-pos rewards and 25%-pow rewards. (or they can be forcefully be unstaked because of pos staking difficulty is high, to promote, the spending of their coins i.e buy minng equipments with their force-unstaked coins)

i don't know which ever idea works best, im not an expert. just giving out ideas to the coders

[cUfZz8]

cool i see now, ive got a little more familiar with decred.

thanks for that.

ive downloaded the wallet. currently synchronizing with the network. whilst it does that im going find the miner and learn how to mine decred with my gpu. i will update this post iam going to rather keep replying to my forum thread.


UPDATE: just realized there are no binaries for decred's gominer. oh well i would have to just wait a little more while until binaries are released in the future.

amazing project though

UPDATE: ive finally figured it out. which coin will have the latest features. including hybrid pow and pos mechanism! this coin am on about has already and newly released its blockchain network this year, and their roadmap look promising. iam happy i think i could be to be an early adopter for the first time in my life. hopeful. im solo mining the coin right now. and going to buy some of it too! (when i figured it out i tried downloading the wallet, and then during prior to installation, i realized i already had it downloaded! from ages ago). haha. going to mega buy this on the cheap. glad