Hi everyone,
Since PoS is a topic of interest around here, I want to let you all know that the SolarCoin Foundation Board has been having some in-depth conversations about ideas for possible PoS implementation or other ways to reduce the inflation rate. At this point, we're still just discussing various options and nothing has been decided yet. We're serious about improving the technical and economics aspects of this currency.
In that vein, I'd like to hear some thoughts from the community about a few ideas. If you had to pick between the following choices, which would you prefer?
A. Switch to PoS with a high staking interest rate (10%+ per year)
B. Switch to PoS with a lower staking interest rate (somewhere from 1% to 10% per year)
C. Continue PoW but reduce mining reward so that fewer new coins would be created.
If you can explain the reasons for your answer, that would be even more helpful. Thanks!
This is not an official survey, just one Board member who is curious to hear people's opinions.
Since PoS is a topic of interest around here, I want to let you all know that the SolarCoin Foundation Board has been having some in-depth conversations about ideas for possible PoS implementation or other ways to reduce the inflation rate. At this point, we're still just discussing various options and nothing has been decided yet. We're serious about improving the technical and economics aspects of this currency.
In that vein, I'd like to hear some thoughts from the community about a few ideas. If you had to pick between the following choices, which would you prefer?
A. Switch to PoS with a high staking interest rate (10%+ per year)
B. Switch to PoS with a lower staking interest rate (somewhere from 1% to 10% per year)
C. Continue PoW but reduce mining reward so that fewer new coins would be created.
If you can explain the reasons for your answer, that would be even more helpful. Thanks!
This is not an official survey, just one Board member who is curious to hear people's opinions.
I can see PoS implemented in the future. An actuarial study should be performed to find the proper interest rate this coin should have, and whether it should be fixed, variable, what rate it should fluctuate etc. It will increase the incentive to producers to file a claim. If PoS is implemented however the mining reward will have to be reduced as a ratio of interest earnings otherwise the coin might inflate and could potentially ruin the incentive it's attempting to promote.
So yes on PoS and reduce PoW in a way that's proportional to the plan of the incentive. Making a mid course correction now can have great benefit to the entire program. It needs to be flexible but also not bend to every whim of the community.
That's essentially the proposal I worked on all weekend and put forward to the Board!
(What Charles is describing)Sounds like there's certainly some similarities. Epiphany's proposal has a gradually declining interest rate over the years, taking into consideration the gradually increasing rate of generator claims. But just to clarify, corather, it sounded to me like you're suggesting the possibility of something even more complex: a fluctuating variable interest rate which could take into account other factors as well. Are you suggesting that the interest rate could fluctuate continuously based on the short-term rate changes of SolarCoin claims -- i.e. when claims are high, staking interest would be low, and vice versa, so that the fluctuation of the overall inflation rate would be dampened rather than swinging with the swings in generator claims? Or are you suggesting some other reasoning for the variability of staking interest rate?
