Things I've been thinking about to further Saffroncoin's evolution:
1) Multi-algo PoW coupled with PoS for the most complete hybridization of Saffroncoin... ideas/thoughts:From the dev cycle I've seen thus far, I've liked that the coin has done more of less constant balance between building up the nascent platform with new features and then working on the core coin architecture to solidify its foundation and improve its chances for adoption/success for in the longer term. Now that the decentralized market dev is in full swing and will be released shortly, as a community it think its time to start the discussion for the addition of PoS mechanism to the coin. Pure PoS is odd to me so this is deffinitly not what I'm suggesting, Saffron is PoW, its clearly stated in the WP and fully support that, however, not everyone is a miner. This is my observation but one there is one thing that the coin still seems to lack and that is big investors, sure there are some but not on the scale that have taken some of the other coins with less feature than saffron to the top tier of the crypto landscape. Saffroncoin should be one of those top 10 coins, with the pace of expansion of services/features I see no reason why this cannot come to pass.
That being said, currently saffron provides the best mining solution out there and with the slight tweaking of the coin minting model has evolved into a well balanced crypto but I still think that the missing last piece is incentivisation to hold coins for a longer period and reward investors for their patience. It would be the icing on the cake so to speak, so that saffron can be all that it can be, a coin thats matters to everyone.
I'd be interested in knowing what the community thinks, maybe we could have a poll put up. As its been stated, this wouldn't replace pow, it would simply exist on top/along side of it. The first multi-algo Pow/pos hybrid that im aware of. perhaps tricky to implement but coins such as fluttercoin have had active hybrid proof system in place quite successfully.
As far as structure I'm thinking a few options that could be put to the poll:
a) the addition of PoS with a fixed low annual interest rate 1-2%(like blackcoin)
b) the addition of poS with a variable interest rate that increases for everyone the more is being staked on the network (like vericoin)
c) the addition of poS with tiered interest rate based on how much is being staked in ones particular wallet/node (think of it at increased staking rewards
the more you are staking) ex: of tiers :
tier 0: < 200k SFR stakes at base rate of 1%
tier 1: 200k SFR stakes @ 1.5%
tier 2: 400k SFR stakes @ 2%
tier 3: 650k SFR stakes at 2.5%
*these are just to be used as examples to get the concept across.
d) A hybrid of B & C tiered interest rates but whose actual rate is variable based upon the the total amount being staked within that particular bracket/tier. Meaning if all the little guys stick together their interest rate goes up same for if the big holders stake they are directly helping each other out. Doing this you incentivise individuals and groups within the community to stake together. Rising tide lifts all boats.
I know there have been some post about PoS before, and I know that it isnt strictly consistent with Satoshi's original vision but that is predominantly for pure PoS coins.. which this is not what I'm proposing here at all. Crypto constantly evolves, Satoshi could not have predicted all the developments when he first wrote the bitcoin WP.
Given future development to meta layer/side chains for saffron sure these side chains could work on this principle, though from my interpretation of these tokens created for smart contracts etc they arent really intended to be stores of value etc, rather they are mechanisms to further decentralize applications. Do feel to focus should be on the core currency that being SFR.
2) meta layers/side-chains When this does come to pass, we'll need a token/coin for the top layer smart contracts etc.. I've mentioned this on IRC and to Rosh a little while back and calling it CSFR (concentrated saffroncoin), the creation of which would possibly exist during a fixed timeframe and the SFR coins sent to purchase the CSFR would be burned/sent to a provably dead/unrecoverable address after which no other CSFR would be created (unless PoS mechanism is used on it i suppose). So many coins are just following SAffron these days and duplicating all the features Rosh and his team pioneered, so perhaps even a portion of the burn (or heck all of it.. think viacoin idk) could be sent to a dev fund since the devs have put so much effort into this coin and have never asked for anything, think of it as the community thanking the devs and allowing for future funding of projects and the all important maketing.
3) To be to further enhance the community effect, one that is often discussed and lauded in crypto yet not really actively/visibly supported in the coin architecture (from Donot's post his 2 point alludes to this.. that true decentralization can sometimes be illusiory) :
Perhaps the use of side-chains would facilitate this, but the idea would be to build a decentralized voting system within the coins architecture that would enable the community to further determine the coin minting process, dynamically (possibly resets every X number of blocks etc):
For example, the at present 32 coins per bolck are generated as a reward. What if 50% (16 sfr) were guarranteed to miners but that the other 50% distribution would be determined by the community?
By this I mean the following: The distributed voting system would have fixed questions whose % of voting corrolates to the amount of coins to be used to the selected process.
16 coins per block in play which would go towards to following options (just examples of the top of my head):
option 1: give the coins to the miners they deserve them!
option 2: burn the coins to a provably dead address to further reduce daily supply
option 3: send coins to a developer fund so that we can reward the dev for his hard work and enable the hire of more devs/bounties for faster
updates/releases
option 4: donate funds to a cause/charity of the month.
so that if this was built into the wallet, everyone would have a vote to make and could result in something like this:
option 1 gets 50% would give the miners 8 addtional SFR (so 20 coins total for that block)
option 2 gets 25% would burn 4 SFR per block
option 3 gets 15% would give the dev fund 2.4 SFR per block
option 4 gets 10% would give 1.6 SFR to a community selected charity
these are just examples off the top of my head, I don't know of the feasibility of such a system or even if its possible to implement but to me, such a system would create the first decentralized dynamic coin supply regulating mechanism in crypto as well as to really drive the concept of community in general that decentralization doesn't mean that nobody owns the coin, it means that we all do, and that for its future, we all matter
Poll
