What is Joincoin?
The project around the cryptocurrency Joincoin, which is traded under the abbreviation “J”, offers the interesting aspect that unlike most other currencies it can not be minted in one way or another .
Read More https://www.geekxplore.com/what-is-joincoin.html
The project around the cryptocurrency Joincoin, which is traded under the abbreviation “J”, offers the interesting aspect that unlike most other currencies it can not be minted in one way or another .
Read More https://www.geekxplore.com/what-is-joincoin.html
Thanks. I am looking for chances of new development from here.
It won't be long after I get the mobie app out to start to do its jobs.
Which sound good xD just waiting for the updates and the news
I'm in the project over year ago..., and like it!Regards: SHNICI - Georgi
I still like the good old days of working well on mining directly from multiple pc's. This degree of ease is needed for the coming promotion to incentivize smartphone app users to be reward for engaging in PC mining activities from time to times. The more app users the less need for any users to do wallet mining as frequently and be rewarded.
In this respect, the late stage of mining (after 3 years), the block reward should be minimal and only having a token value, and acting only as the basis for rewards (not from the mining activity itself). This implies that halving of rewards should be much faster than coin price increase and the block reward would be close to only the transaction charge by the node which should be quite low, not the $10-20 by BTC. Otherwise, multi-algo or not, any significant increase in block reward value would cause mining to concentrate on a few high-power miners, happening to BTC, and making Joincoin pc-mining impossible.
The present around 10% annual increase of Joincoin market cap from mining is more than twice of the 4.6 % annual increase in BTC. The Joincoin has to be 2x or more attractive than BTC, at least in the short-term, in order to appreciate more than BTC.
These two factors are the stumbling blocks to attract regular coin users (and some of them would become pc-miners and network supports) and gain price supports.
In short, re-introduction of halving of mining reward should be necessary.
Hey, DOGEbubble,
I think transaction fees as a sole reward for PoW do not work outside of the top 10 or so cryptos by market cap. In fact, if you were to reduce the reward of Joincoin's blocks, people would mine it even less as it is, making it completely vulnerable. This is the main reason it had a fork increasing the block reward to 1.
So what PoW coin devs should really thrive to do, is to make small coins as attractive to miners as possible to avoid being exploited.
A well planned block reward scheme could work though, (like 0.5 J, then 0.25J, then 0.125J and so on, continuing sort of like the inital idea of the coin) but transaction fees as pure rewards do not work for coins this size and popularity.
