Proof-of-Lock is a method to formalize and validate a private key's loss/destruction to demonstrate ownership/control of a 'LockProof' wallet/address
Based on Proof-of-Loss, LockProofs are like indestructible piggybanks - you can deposit but cannot spend / send outputs.
Proof-of-Lock requires a 'destructive' computational proof [as with ProofofLoss] - the difference being that users maintain 'ownership' of the new LockProof address / public key. The destruction / loss-proofing applies only to the private key.
Proof-of-Lock users control or trade pub keys and LockProof redeem scripts. Proof-of-Lock recipients should generate new redeem scripts [hash+ of previous script] for security and to demonstrate individual ownership.
Topic: [ANN][LOST] LostCoin - Pinging Off-the-Radar (Read 2400 times)
i'm lost too, among all these scammycoin
sos !!! lost
LostCoin [LOST, ¤]
see also:
Tim Dog Coin
https://bitcointalksearch.org/topic/anntdc-timdogcoin-have-you-seen-this-man-464091
-What is LostCoin?
-LostCoin is like Bitcoin, but based on Proof-of-Loss and written in CommonLisp
Proof-of-Loss is similar to Proof-of-Burn, the main difference being Proof-of-Loss requires demonstrable, permanently 'lost' wallet access. The computational equivalent for Proof-of-Work is accomplished with P2SH or other provably random, destructive, 'loss-receipt' redeem script generating process - sending coins and priv keys to a final resting place or unrecoverable / lost-address. Users can then 'spend' their lost coin 'credit' by exchanging proof-of-burn/loss redeem scripts - which requires destroying/rehashing again to generate recipient users' new proof-of-loss redeem script.
Note the distinction from 'burnt' coins or sending to unspendable addresses by which LostCoins technically[theoretically] could be found and recovered. The proof is spending outputs to addresses generated using 'provably unknowable' priv keys. Whereas burnt coins are the equivalent of shooting a missile @ a plane and watching it disintegrate, LostCoins are those which have just gone off the Radar.
-License -
-LostCoin is released under the terms of the DAYP Immunity https://github.com/RagnarDanneskjold/DAYP-Immunity.
-Development and contributions -
-Developers work in their own trees, then submit pull requests when they think their feature or bug fix is ready.
-Frequently Asked Questions:
-How much LostCoin can exist?
750,000 LOST
-Block Target Every 44..444... seconds
-4.444... Hour Difficulty Readjustments
-Initial block reward: -4.44
-Block reward adjustment rate[ *0.444..]: 444,444
-How to get LostCoin?
-Scrypt Proof-of-Loss
-make lostcoind
-sudo apt-get install build-essential \
-libssl-dev \
-libdb5.1++-dev \
-libboost-all-dev \
-libqrencode-dev \
-libminiupnpc-dev
--cd src/
--make -f makefile.unix...
###
########
see also:
Tim Dog Coin
https://bitcointalksearch.org/topic/anntdc-timdogcoin-have-you-seen-this-man-464091
-What is LostCoin?
-LostCoin is like Bitcoin, but based on Proof-of-Loss and written in CommonLisp
Proof-of-Loss is similar to Proof-of-Burn, the main difference being Proof-of-Loss requires demonstrable, permanently 'lost' wallet access. The computational equivalent for Proof-of-Work is accomplished with P2SH or other provably random, destructive, 'loss-receipt' redeem script generating process - sending coins and priv keys to a final resting place or unrecoverable / lost-address. Users can then 'spend' their lost coin 'credit' by exchanging proof-of-burn/loss redeem scripts - which requires destroying/rehashing again to generate recipient users' new proof-of-loss redeem script.
Note the distinction from 'burnt' coins or sending to unspendable addresses by which LostCoins technically[theoretically] could be found and recovered. The proof is spending outputs to addresses generated using 'provably unknowable' priv keys. Whereas burnt coins are the equivalent of shooting a missile @ a plane and watching it disintegrate, LostCoins are those which have just gone off the Radar.
-License -
-LostCoin is released under the terms of the DAYP Immunity https://github.com/RagnarDanneskjold/DAYP-Immunity.
-Development and contributions -
-Developers work in their own trees, then submit pull requests when they think their feature or bug fix is ready.
-Frequently Asked Questions:
-How much LostCoin can exist?
750,000 LOST
-Block Target Every 44..444... seconds
-4.444... Hour Difficulty Readjustments
-Initial block reward: -4.44
-Block reward adjustment rate[ *0.444..]: 444,444
-How to get LostCoin?
-Scrypt Proof-of-Loss
-make lostcoind
-sudo apt-get install build-essential \
-libssl-dev \
-libdb5.1++-dev \
-libboost-all-dev \
-libqrencode-dev \
-libminiupnpc-dev
--cd src/
--make -f makefile.unix...
###
########
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