Well, i'm almost ready with a
!!database only rc
Some words and thoughts :- maybe the beginning of a white paper finally?
Ask the Bitcoin devs and they'll encourage you to use an address only once...hell they'll say an address does not really exist on the chain (technically true). This is all well and good in a system designed to maintain total pseudo anonymity, use of different addresses should make it harder to tell who is who and what they are doing with their money. Many people argue about what spirit of cyptocurrency development is about....ranging from privacy , to challenging the existing banking systems/ financial systems. My thoughts on Bitcredit (not really important) are fairly straightforward , I am pushing the development of a digital foundation of a decentralized/distributed financial ecosystem that will offer not only alternatives to existing systems, but also make possible new and interesting ways to conduct online commerce.
Thus i'd like to start by arguing some points :-
Finances are what drives the world's economies, people perform tasks and receive compensation in the form of money, cash or digital. Sometimes immediately available funds may not be sufficient for intended uses, thus we approach banks and ask for loans. The bank performs highly detailed background checks, not just on financial history but personal information as well, in an effort to build a profile which results in a "score". This score determines the risk to the bank of you defaulting on a loan. If they find that you are likely to default, no money for you. This in essence is fair play, you wouldn't arbitrarily lend money to someone you don't know without a certain level of surety that they will pay you back. The blockchain is a whole different type of animal, on a typical bitcoin based blockchain users are identified by the "address" they use to send/receive payments and it can be changed instantly... resulting in no real positive identification.
I would like to expand in the opposite direction to the recommendation of the current Bitcoin dev team. Rather than encouraging disposing of "addresses", I am developing a system that rewards useage of a single "address", which for our purposes can be referred to as ChainID.
ChainIDTransactions are recorded in the blockchain, every time you use your funds/transfer them, a record is created. Essentially this means we can mine a lot of numeric data about a ChainID, from number of transactions to how much you are likely to spend in a single transaction. This , if there has been enough activity can result in a fairly detailed income/expenditure profile spanning the existence of the ChainID.
Qualitative data is almost non-existant on the blockchain, this is because typically noone uses personally identifiable data on the chain, encrypted or otherwise. I approach this problem by analysing aspects of associated ChainIDs, building a detailed profile of known associates and their trust ratings, the higher the trust/credit ratings of know associates...the higher yours will go. I also incorporate a system of voted trust, each user can "vouch" for another by endorsing them with a vote, please note a ChainID can only vouch once for another ChainID, all subsequent votes are not calculated. As with the first system, trust/credit rating of the voting ChainID will be considered, so voting with low or zero trust is pointless.
Information on a ChainID is served on demand or optionally triggered by a automatic parsing of a specially formatted message. Each service provider will have available to them a set of parameters they can set for minimum threshold ratings required to receive a service from them, so along with relevant data service provider may get a recommendation or set auto responses.
These are some of the ideas driving the development train.....feel free to discuss , nitpick.
I have to do the following:-
1) A standard wallet may only hold a single address (need to find a way to enforce this) or figure an alternative
2) BNs are no longer moveable.... you literally burn the coins to enable a BN, (or another CRYPTOGRAPHIC solution)
3) Batch processing of trust and credit tables once an hour
4) many more things big and small
