Going to be honest, probably in over my head. This all sounds very good but is this real? If so, if BTH has such a problem with how BTC achieves consensus with 4 mining pools controlling 61% hash power therefore minting a majority of the new blocks, why give them the higher ratio of coins? Simply to encourage a higher value for BTH? Just curious.
We hope this is real and haven't wasted over a year developing something that isn't real
(we checked, it's real)
Our belief is that PoW coins in general face a centralization problem, which is why our plan is to switch to Proof of Stake. In the meantime, while we're PoW and PoS is being developed, by changing the mining algorithm from SHA-256 to Equihash 144,5 this can remedy the possibility of ASICs dominating the mining efforts in order to keep a level playing field amongst miners. This isn't a perfect solution by any means, but we believe this is the best route for mining prior to staking.
When you say higher ratio of coins are you referring to the block subsidy? If yes, then we reversed a halving period in order to double the block subsidies to entice more miners and create a strong network as we gear up towards the PoS shift.
If you're referring to the ratio of 1BTC:1BTH and 38ETH:1BTH, this is due to the price ratio of ETH:BTC at the time of our hard-spoon snapshot of Ethereum. As it's a Bitcoin fork, BTC holders will naturally be able to redeem at a 1:1 ratio with the amount of BTC they had prior to the fork block, since the blockchain is the same as Bitcoin's prior to block 555,555. Using the price ratio of ETH:BTC for the ETH:BTH ratio made the most economical sense at the time since ETH's supply is far greater.
The issue itself is not that they're accumulating more coins because those miners are minting a majority of new blocks, it's that those mining pools contain the power over the network and could potentially collude. Of course, the mining pools will most likely decide not to tarnish the network or all of the wealth they accumulated will vanish, however the point is that we're still leaving the power of the network up to 3/4 mining pools and hoping they act in the best interest of the network, which goes against the decentralized nature of Bitcoin.
Proof of Stake makes it far more difficult to collude and accumulate over 50% of staking power which greatly decreases the centralization of consensus.