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Topic: An alternative to proof of work? (Read 549 times)

hero member
Activity: 584
Merit: 500
January 09, 2015, 05:34:36 PM
#7
Has there been any implementation of an altcoin which rewards proof of work to a maximum limit only? This way the maximum power of each node is capped.

I saw a variant of this suggestion some days back. Its not possible, anybody can set up multiple miners and go around it.
full member
Activity: 152
Merit: 100
January 09, 2015, 04:53:21 PM
#6
Proof of existence from Factom
Factom.org
hero member
Activity: 518
Merit: 500
Hodl!
January 09, 2015, 03:47:21 PM
#5
And what's the motivation behind this idea?

To return the means of production to the proletariat... probably.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
January 09, 2015, 03:43:45 PM
#4
Has there been any implementation of an altcoin which rewards proof of work to a maximum limit only? This way the maximum power of each node is capped.

This doesn't seem possible.
 
How would the network uniquely identify a node?  By IP address? 
It is easy to get blocks of IPs and broadcast winning blocks from
any one of them.

And what's the motivation behind this idea?
hero member
Activity: 854
Merit: 1000
January 09, 2015, 02:36:18 PM
#3
take a look at this comparison  https://www.cryptocoinsnews.com/bitcoins-future-proof-of-stake-vs-proof-of-work/

you can also mix the systems but One thing is sure, bitcoin will never change its algorithm
hero member
Activity: 714
Merit: 503
January 09, 2015, 02:31:32 PM
#2
there is proof of stake,  but some experts say that it is not as secure as proof of work
hero member
Activity: 812
Merit: 509
January 09, 2015, 01:53:03 PM
#1
Has there been any implementation of an altcoin which rewards proof of work to a maximum limit only? This way the maximum power of each node is capped.
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