Dear Joincoin community memebers:
Depite my intention to implement the transition
from POW to combined POW/POS and add scrypt-chacha for the Joincoin, it
won't be done at all due to no workable plans for the foreseeable future.
Doing those jobs for multi-algo cryptos does not have precedents for us to safely follow without unnecessary hardships.
- Joincoin has all the 13 algos at the initial launch. The reason that it might be hard to continue from there could be why the dev gave up. Yes, adding new wallet features or other non-window wallets (e.g., Mac wallet, web wallet and paper wallet, etc.,) for a multi-algo crypto could be very daunting works.
In short, Joincoin most likely will do its primary jobs well as an active ( and probably popular) crypto through aggressive supports and should achieve its other functions through 3rd-party platforms until there is further solutions. I would think about posting bounties for those jobs (which we can not do now) for us to accomplish in the near future when the time is right.
It appears that Joincoin still needs to face the end of the present 2 Joincoins/block POW in about 8 months.
The block height is about 177,000 now. The POW would end at block 626,200 in about 8 months.
I would be in favor of
continuing (edit discontinuing) POW probably through (edit after)a relaunch from a higher POW block rewards, halving every 2-3 weeks or so for the next 0.4-0.8 million Joincoins, to reach a final lower fixed POW probably 0.2 Joincons/block (which would be about 6% annual rate of market cap increase/inflation), after the 4-5 halvings.This is considering the all-algo "mining" features of Joincoins. It appears that mining would become very hard due to higher difficulties, especially without a lot of pool for some of the algos. Hopefully, by that time higher power computers would be coming out and there could be better solutions.
Whatever least likely to go wrong and best in terms of stability, security and safety for the Joincoins would be what I want and good for the cryptocurrency.
[Edit] Please see the above.
It is no-brainer now.
Because the all-algo features would not be working well in the future, considering all the problems in mining with some of the algos even at the present much lower difficulty levels, it might be better just to
change to pure POS without POW at all after a brief accelerated POW-relaunch and around 4 halvings of block rewards.
In this way, we let miners with any of the algos complete and end the intended POW mining activities, then we would proceed to POS phase with an annual percentage probably in the range of 2-5%.
Therefore, the only workable plan is to proceed with a transition plan of
from [POW(present)] to [POW(relaunch)] to [end POW+start pure POS] for the JoincoinIf there is no obvious problem, I believe that this is the way Joincoin should go. Certainly, after becoming POS, the unprecedented 13-all-aglo POW features would become a memory of the past only for the Joincoin.
After that, we would not have any restriction for our needed wallet features.