Why don't you just start with dpos instead starting with pow and later making a swap?
Well a good dpos system already need coins in circulation (collateral for the nodes). So starting POW and get miners involved can do really well for the community.
Also the dpos nodes should be done right and be able to support all the data later on, this isnt a quick thing to solve.
So starting a POW phase that is not too short not to long (not like some coins get it up for 5 days mine all coins and switch to pos). This week we finalize a lot things.
Algo, coin count, period of pow (maybe POS after pow untill dpos is done).
We're even thinking about a minable erc20 token.
But please everyone we cant rush this, we need some time to prepair and think carefully.
Mineable erc20 token?
So that would require spending some gas instead of gpu/cpu power. Am i right?
Yea example can be the 0xbitcoin protocol, you will always need to spend some gas to mine the block. Thats a sad thing about it, but on the other side you get straight the infrastructure from Eth.
(ledger, easy exchange integration, MEW etc.) Also a pool can mine the block so the pool pays the tx fee, but in general than the pool fee is higher as well.
Why don't you just start with dpos instead starting with pow and later making a swap?
Well a good dpos system already need coins in circulation (collateral for the nodes). So starting POW and get miners involved can do really well for the community.
Also the dpos nodes should be done right and be able to support all the data later on, this isnt a quick thing to solve.
So starting a POW phase that is not too short not to long (not like some coins get it up for 5 days mine all coins and switch to pos). This week we finalize a lot things.
Algo, coin count, period of pow (maybe POS after pow untill dpos is done).
We're even thinking about a minable erc20 token.
But please everyone we cant rush this, we need some time to prepair and think carefully.
Mineable erc20 token?
So that would require spending some gas instead of gpu/cpu power. Am i right?
how erc20 can be mine? is this will be similiar with POStoken? but, i dont think its mineable token, just staking token.
No will be more like 0xbitcoin, not staking but mining.
Mineable erc20 token?
So that would require spending some gas instead of gpu/cpu power. Am i right?
I don't think make much sense to have a minable token where you just call a smart contract to mine it, at least not for this project. I reckon you will get a reward based on your partecipation with a node, maintaining the network. Like in one of the last article was explained.
I do agree that its a work around with mining an erc20 token, we do like the infrastructure though. People keeping there coins safe on a Ledger etc.
We also are looking at a POW/POS combination without masternodes (would not make sense maintaining nodes etc. before a swap).
We're planning it pretty carefully. Our pow coin wont be spectaculare simply cause its only ment for creating a fair distribution. The DPOS chain is where innovation come into play.
Which kind of DPoS are you planning to use? With a fair DPoS there's even more distribution via delegates' voting
Yes delegates always should get rewards, thats how you give them incentive to take part in the process thats why it's also great for our chain (incentive to distribute data).
Also delegates should have a bond and no one will lock coins without any ROI.
I guess you won't create your DPoS blockchain completely from the scratch, right? So if you use an already existing DPoS Blockchain and 'copy' it and improve it so that it fits your requirements, have you already decided on which DPoS project you will orientate?
We are looking at others, but eventually go our own way. Im impressed by loom network, but at this stage we are not locked to one specific dpos coin yet.
