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December 07, 2014, 09:08:42 AM Last edit: December 07, 2014, 09:35:50 AM by Bizmark13 |
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I thought of an interesting idea for a coin the other day. It would be similar to Namecoin in that the blockchain would house a DNS system and you would use coins to pay for domain names. Domain names would not last forever but need to be renewed yearly. It would also be similar to Datacoin in that the blockchain would be able to store data. Hosting your files (including .html files) would require a constant monthly/yearly fee. This would prevent the blockchain from getting too large. Files can either be public or encrypted.
So for example, you could register the domain recipes.bit for 1 coin and upload your webpage to the blockchain for 1 coin (or more coins if you are uploading more data).
So it would basically be like GoDaddy + Dreamhost in blockchain form.
What do you think? Would something like this be feasible? The closest thing I can think of would be along the lines of Namecoin + Datacoin (but with actual files instead of arbitrary binary data) + some sort of blockchain pruning system operated via consensus.
EDIT: I realize such a blockchain could grow to become prohibitively large. On the other hand, a blockchain that is kept too small would not be of much use. Perhaps it might be better to use a system similar to BitTorrent and other P2P networks where only a small percentage of nodes possess the data at any given time. Hence those who hold more data and connect to more peers and thus help the network more would be rewarded with more coins. In this system, this "seeding" would be analogous to the mining that occurs within traditional proof-of-work-based systems or the staking that occurs within proof-of-stake-based systems.
As I said, this is just an idea and I haven't really got the details sorted out yet.
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