Topic: An idea for a new altcoin (Read 330 times)
To clarify, my proposal is not to make a 2 block chain, but rather one motherblock with a limited number, not one. For example, 200 blocks
I'm not planning to make this coin but I think more people thinking about possible scaling solutions the better.
I don't see how you could overwrite it with any less hashing power than the previous blocks added up would take to rewrite transactions? This requirement would be substantial and growing with usage.
Thanks for the replies
I don't see how you could overwrite it with any less hashing power than the previous blocks added up would take to rewrite transactions? This requirement would be substantial and growing with usage.
Thanks for the replies
Hello dear cryptospherians,
One wonders, after all the debate in bitcoin regarding the scalability and the recent lightning presentation of the core team how certain fixes for issues are going to play out both technically and economically. I know, this is an altcoin section so sorry for opening with a remark about bitcoin.
Taking into mind the objections put forward by core against every person in the world making 10 or so transactions on a single blockchain, couldn't we work around this problem altogether in an altcoin? There are many who try to do this, each with their own drawback. Why not copy the entire concept op bitcoin, as a matter of fact try to keep most of the code perfectly intact. What I would propose is a system where the blocks get overwritten after proper verification has taken place. I know this brings a lot of problems like how are people going to keep their coins, but this can be mitigated by making a motherblock of sorts. This block would contain all the data of everyones wallet and it would be what the chain was ''settled'' against when the blocks get overwritten. This way the theoretical number that core used for how much data it would cost to propagate such blocks would come way down. I am not proposing this coin be distributed through ICO, but rather be a very similar copy to bitcoin in every other regard.
Kind regards,
Auralea
One wonders, after all the debate in bitcoin regarding the scalability and the recent lightning presentation of the core team how certain fixes for issues are going to play out both technically and economically. I know, this is an altcoin section so sorry for opening with a remark about bitcoin.
Taking into mind the objections put forward by core against every person in the world making 10 or so transactions on a single blockchain, couldn't we work around this problem altogether in an altcoin? There are many who try to do this, each with their own drawback. Why not copy the entire concept op bitcoin, as a matter of fact try to keep most of the code perfectly intact. What I would propose is a system where the blocks get overwritten after proper verification has taken place. I know this brings a lot of problems like how are people going to keep their coins, but this can be mitigated by making a motherblock of sorts. This block would contain all the data of everyones wallet and it would be what the chain was ''settled'' against when the blocks get overwritten. This way the theoretical number that core used for how much data it would cost to propagate such blocks would come way down. I am not proposing this coin be distributed through ICO, but rather be a very similar copy to bitcoin in every other regard.
Kind regards,
Auralea
You can help bitcoin by making your suggestion into a fork. Then devs can look at it and laugh, which should help bitcoin by keeping spirits up
Yeah of course, and then you can just pwn the whole network by overwriting a block, that would make you the major holder of all the damn coins, locking out anyone else from the system. Congrats, you just added a backdoor the a well-working cryptocurrency.
Lots of money poured on my blockchain ? Yay, time to get all the coins for myself and gtfo.
This is what OP's coin would look like, IMO.
Sorry for the hope-smashing, but, get real: bitcoin scaling problem is waaaaay more complicated than that. That's why there's so much fuss about it at the moment. That's why every one went nuts when BCC appeared, and that's why every one whill got nuts again in October.
But you can create an Attention Seeking Coin, it works pretty well, given the June's Ether-riot.
Lots of money poured on my blockchain ? Yay, time to get all the coins for myself and gtfo.
This is what OP's coin would look like, IMO.
Sorry for the hope-smashing, but, get real: bitcoin scaling problem is waaaaay more complicated than that. That's why there's so much fuss about it at the moment. That's why every one went nuts when BCC appeared, and that's why every one whill got nuts again in October.
But you can create an Attention Seeking Coin, it works pretty well, given the June's Ether-riot.
Hello dear cryptospherians,
One wonders, after all the debate in bitcoin regarding the scalability and the recent lightning presentation of the core team how certain fixes for issues are going to play out both technically and economically. I know, this is an altcoin section so sorry for opening with a remark about bitcoin.
Taking into mind the objections put forward by core against every person in the world making 10 or so transactions on a single blockchain, couldn't we work around this problem altogether in an altcoin? There are many who try to do this, each with their own drawback. Why not copy the entire concept op bitcoin, as a matter of fact try to keep most of the code perfectly intact. What I would propose is a system where the blocks get overwritten after proper verification has taken place. I know this brings a lot of problems like how are people going to keep their coins, but this can be mitigated by making a motherblock of sorts. This block would contain all the data of everyones wallet and it would be what the chain was ''settled'' against when the blocks get overwritten. This way the theoretical number that core used for how much data it would cost to propagate such blocks would come way down. I am not proposing this coin be distributed through ICO, but rather be a very similar copy to bitcoin in every other regard.
Kind regards,
Auralea
One wonders, after all the debate in bitcoin regarding the scalability and the recent lightning presentation of the core team how certain fixes for issues are going to play out both technically and economically. I know, this is an altcoin section so sorry for opening with a remark about bitcoin.
Taking into mind the objections put forward by core against every person in the world making 10 or so transactions on a single blockchain, couldn't we work around this problem altogether in an altcoin? There are many who try to do this, each with their own drawback. Why not copy the entire concept op bitcoin, as a matter of fact try to keep most of the code perfectly intact. What I would propose is a system where the blocks get overwritten after proper verification has taken place. I know this brings a lot of problems like how are people going to keep their coins, but this can be mitigated by making a motherblock of sorts. This block would contain all the data of everyones wallet and it would be what the chain was ''settled'' against when the blocks get overwritten. This way the theoretical number that core used for how much data it would cost to propagate such blocks would come way down. I am not proposing this coin be distributed through ICO, but rather be a very similar copy to bitcoin in every other regard.
Kind regards,
Auralea
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