Blackcoin annouced the POS2.0!!! I hope that C2 also update to POS 2.0.
Keep an eye on POS 2.0 for us, atm rat4 has the source private so we cant update yet
So, if C2 will update in future?
If rat4 releases the source then yes
I have learnt that it will open source
When? So I can inform Kalisto
I don't know.I just collect information from the market.
Not that I care but what exactly is PoS 2.0 supposed to offer in terms of improvement against the current model that warrants messing with code the is working perfectly well?
p.s. this is rat4's github
https://github.com/rat4/blackcoinp.p.s. if it ain't broken, don't fix it. rat4 needs 'PoS 2.0' because BC is a stagnant PoS.
p.p.p.s. Hello Joel
p.p.p.p.s. rat4's white paper =
http://www.blackcoin.co/blackcoin-pos-protocol-v2-whitepaper.pdfBasically, get rid of coin age (set coin age == 1) and change the proof from scrypt to SHA256
Revolutionary............
Except, without going too deeply into it, why is coin age there in the first place......?
oh, and changing to SHA256 to increase the difficulty to I suppose prevent pre-calculation.......?
http://antminers.co.uk/?gclid=CMz6jt-Eo78CFeyWtAodcB8AlAp.p.p.p.p.s. ok, just looked through peercoin whitepaper
http://www.peercoin.net/assets/paper/peercoin-paper.pdfcoin age indeed seems somewhat superfluous, except, when you examin the BC white paper you see this.......
original PoS proofhash < coin age x coins x target
new PoS proofhash < coins x target
fuck me so what Graham?
well.............
under the old system, coin age would essentially allow a wallet of low coin amount (coins) to accumulate sufficient weight so as to stake a block and gain coins via minting
under the new system, coin users will no longer gain weight! what this means is that low amount of coins users will NEVER BE ABLE TO MINT
wait Graham, your wrong! low coins users will be able to mint because the minting allocation will be linear! (probability of minting on the y axis, coins x target on the x axis, graph is linear y = ax )
Why yes voice in my head, you have a point! except that.............. the probability will be so low when compared to early adopter wallets like mine and coin42 and V's and Glens etc that new users will never, ever catch a block and will, as such, not attempt to mint, this will lead to an SMALLER NODE NETWORK SIZE which is in fact the exact opposite of the stated goal.
In fact what is achieved is a centralisation of the network as a collection of early adopter wallets still minting for 1% (fuck me lol)
But Graham this solves the issues of coin age attacks!
Yes voice in my head it does, but it gives rise to the centralisation of the network and still leaves the door WIDE open for a 51% attack. In fact, by centralising the network, the system is actively encouraging a 51% attack!
But Graham what's the solution to this coin age attack issue?
Well voice in my head, there is no solution, a p2p network requires many, many active nodes to prevent an issue like this occurring. In the instance of the attack on nc2, it was only possible because on the lack of nodes securing the network (you fucking mintpal day trading dickheads), if you treat the blockchain like this, leaving all your coin on a bullshit exchange with insufficient protection then the blockchain will be a target for attack. The only solution is education.....
Education:
There is no interest on c2.1, there is only a TAX ON THOSE WHO DO NOT SECURE THE BLOCKCHAIN. If you do not secure the blockchain, compound interest will destroy your buying power through an exponentially increasing monetary supply.
tldr; BC's PoS 2.0 is a PoS. It will disincentives small stake mining and result in the centralisation of the blockchain.
p.p.p.p.p.p.s. Even if you trade, keep some of you C 2.1 in your wallet, we have coin age! you WILL catch blocks! I mean who risks 100% of their stack in 1 trade!
