A Proof-of-Stake Protocol v 2.0
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If I interpret this http://bitcoinmagazine.com/6528/what-proof-of-stake-is-and-why-it-matters/ right, it depends how POS is implemented.
If it can be designed to be independent of the number of coins somebody owns, it would not reward the rich.
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Taking coin age out of the equation makes whales even richer and attacks even easier. Pure PoS isn’t secure very much as it is now, and they may screw up it big time. Their current best innovation is how to instamine nearly all of a coin in 5 days.
It’s unclear to me why Balthazar has chosen Scrypt for NVC as both block hash and PoW hash. The 1st part wasn’t necessary. However reverting any or both to SHA-256 isn’t much better because it’s an outdated and not very fast hash function.
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I think I should add bandwidth services . In addition, the share of POW will gradually decrease, increasing the share of POS
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POS, all it screams at me.
Centralisation, no liquidity, controlled access to that market. it’s the complete opposite of what FTC is trying to achieve is it not?
Please, tell me FTC has no plans on going POS?
Likes of PPC, part POS, sure, that’s fine, but full? wouldn’t touch that blockchain with a barge pole
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I kind of agree POS does not really agree with me.
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POS, all it screams at me.
Centralisation, no liquidity, controlled access to that market. it’s the complete opposite of what FTC is trying to achieve is it not?
Please, tell me FTC has no plans on going POS?
Likes of PPC, part POS, sure, that’s fine, but full? wouldn’t touch that blockchain with a barge pole
I think you misunderstood what I meant.
My goal is to find suitable for our development path, not stop there, and not copied.
In my mind is Proof-of-Service , not Proof-of-Stake . I called it S2S (Service to Service).
The following three cases:
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A man had graphics card , he can mine feathercoin .as we are now.
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A man have not graphics card ,he have some money,he can buy some feathercoin , and use the FTC mine.
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A man have not graphics card ,he have not money too,he can open his feathercoin wallet and provide P2P services with his bandwidth.
Of the three cases FTC can be achieved.
We love all others, they too love us all .
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That’s an interesting idea lizhi. I think in the very long term this may be a good goal!
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Interesting.
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Not only an interesting, This is our roadmap for future development. We will get rid of bitcoin and exceed bitcoin. This is the meaning of our existence. Feathercoin does not exist as a single copy . Happily, we are one step ahead, time is the key. Time is money.
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Be careful with big statements like that Lizhi, I might just get my way in Scotland and create the first Gvt chain, blow you ALL out of the water O:-)
Partial POS, sure, I don’t mind that. I understand your looking down the road and it’s still called pos no matter if you put a skirt on it and cal it “fluffys day out” ^-^
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We have a fair mining for 1.25 years. After 6 to 9 months, we will have the ability to start POS. But before that we have many things to do. Upgrade to 0.9.2, adding the multisignature Technology. To design UI interface Wallet .
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I think you misunderstood what I meant.
My goal is to find suitable for our development path, not stop there, and not copied.
In my mind is Proof-of-Service , not Proof-of-Stake . I called it S2S (Service to Service).
The following three cases:
-
A man had graphics card , he can mine feathercoin .as we are now.
-
A man have not graphics card ,he have some money,he can buy some feathercoin , and use the FTC mine.
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A man have not graphics card ,he have not money too,he can open his feathercoin wallet and provide P2P services with his bandwidth.
Of the three cases FTC can be achieved.
We love all others, they too love us all .
Please told me POS is not a long term plan. Even a mixed POW and POS will prevent people spending the coin. You can compare the PPC and FTC transaction on average.
If POS is the long term plan, I would have to re-valuate the potential of FTC .
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This will be determined by the market,If prices fall below the electricity costs,POS will improve our ability to survive.I recommend using a PoW in the first 4 years, The first five years of the start, will use PoS.
But this is not the only.If prices continue to fall, PoS is a good choice.
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This will be determined by the market,If prices fall below the electricity costs,POS will improve our ability to survive.I recommend using a PoW in the first 4 years, The first five years of the start, will use PoS.
But this is not the only.If prices continue to fall, PoS is a good choice.
Assume the electricity cost you are talking is $0.04 . You means price below that will make FTC change to POS for a while (or forever) . Or you means change to POS as a temp solution???
what happen in NXT is already make people concern about POS. I can only said POS is more centralize when compare with POW. And honestly I don’t thinks is a good choice.!
By the way change to POS is already a decision??
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Not a decision yet, don’t even think its worked its way to a full discussion yet.
Only the change to Neoscrypt is set in stone at the moment and even that the date hasn’t been set yet.
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No , It is not a decision, only discuss.
But I think the miners will not bear the loss,so We need to make early preparations.
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Apparently a spot was left open from the very beginning so dropping in PoS could be achieved relatively easily…
I’m not a fan of PoS as it has exploits which are doubly effective consider ftc has it’s mystery 33% holder… *cough btc-e*
From what I understand, there’s no way to make PoS fair and unexploitable.
With all that said, I don’t know enough about PoS and I’m purely focused on this list at the moment.
NeoScrypt.com
NeoPool
NeoX
2FA/Multisig
FTC to the Moon
Dark/Light Addresses
Finding productive Staff/TeamI know there’s a couple of other things on my mind but the above I feel are far more important than PoS at this given point in time.
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My primary job is to stop the price decline.But unfortunately, those exchange create a huge number of new currency,They sell the FTC, get high returns .So, I think PoS and DAC.
33% holder is not a problem,It is not one holder,POS will collapse his account.
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We could have a standard fee put into all transactions which would be for the communities bounty pool?
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Personally, I don’t think we should make decision base on the price / try to stop the price fall. What we do should be good for the coin not good for the price.
We are not Fed or Goldman Sachs.
As I know FTC is a high inflation coin. (at least in the first 4 years) . It does not surprise me if the price fall to 1 cents (I hope it will not happen but it could)
I thinks some of the coins is already mining with negative income, but i don’t see great drop in hash rate… so .I don’t think miner income is our concern.
