Could folks with solid insights school us on PoS, beyond the basics, please?
http://practicecoin.com/index.php/topic/coin-types/#post-156Include limitations of the old schemes and what the state-of-the-art looks like these days. A mention of modern PoS coins with best features would be useful.
What parameters are best suited to the interests of general public vs. the coin owner and how to tell scams. Whether to PoS from the start or begin with PoW and switch at a certain block.
The outcome of this discussion will inform the decisions, when we are ready to craft a PoS coin of our own.
Tearo
Some very general guidelines, assuming you're starting from Peercoin-based PoS;
don't make the block interval too short to avoid excessive forking. 2 minutes min
Also balance the yearly interest with the transaction fees, so there is no or very little inflation.
Minimum coin age to start staking? This open to debate, some coins dispense with it
entirely, peercoin has quite a long period. The rationale is to prevent a certain sort of attack, but long
maturation period encourages minters to keep their nodes offline and open them only for
staking, thus diminishing the network security. I would put couple of days here.
It's simplest to do the initial distribution with PoW, and not make the cutoff block too early.
I think at least a month, and the more the better.
Most PoS I've seen (and I've been away from the scene for a while now)
are based on really old < Bitcoin 0.9 sources, if anyone has seen
a decent PoS that uses autotools for the builds, I'd like to know about it