Two things regarding todays progress:
1) If any devs out there have been on the fence and you like the idea of the one click web mining by clicking a URL discussed in the last page, I believe it was called Monero web mining, and you want to take on that project feel free to contact us here or at
[email protected].
2) In addition to what I think will be a groundbreaking feature (adding retirement accounts in our wallet, a place to sweep your extra BBP in hopes that it grows while it is stored in the 401k account):
I was thinking today, it would be novel for us to be the first coin to create a couple new transaction types in the wallet: Contingent transactions and Cancelable transactions. Right now, you cannot cancel a bitcoin transaction because once it is broadcast and included in a block, it cannot be reversed. But I was thinking, we could add a field for contingency rules. The transaction is not included in a block unless a certain condition is met. If the condition is not met, the tx may be canceled.
One condition I discovered that would be useful for the design of the retirement account is a contingent transaction based upon another contingent transaction.
So for example, User A wants to buy User B's 401k balance, but, does not want to spend asset A until the escrow for Asset B is broadcast into the memory pool. So what we can do is add a new transaction type called ContingentUpon, and in the scripting language, honor the amount, send address of escrow, signature, coin color, senders address, signature and coin color.
And basically what would happen is (lets go through a failed transaction and a successful one):
FAILED TRANSACTION (IE CONTINGENT WORKED):
User A advertises that he wants to buy 1000 rBBP for 1000 BBP.
User B advertises that he wants to sell 1000 rBBP for 1000 BBP.
(These are through the new RPC trading commands in the console).
User A's client realizes that B wants to trade, so User A creates an advanced contingent transaction (A requires B to create a contingent transaction otherwise As transaction will be canceled), while A's contingent tx is broadcast and accept in everyones memory pool.
User B deliberately fails to send User A the rBBP owed (lets say, because he had a corrupt wallet.dat file, with no actual rBBP in his wallet, while fooling the client) so therefore he cant really afford to send the 1000 rBBP back to user A, so A is going to want his money back (IE does not want the trade to go through). At this point, the tx is not in a block yet.
The complex tx sent by A *would be canceled* and never mined by a miner - because the mandatory memory pool rule (for contingent transactions) would not allow a miner to mine the complex tx.
SUCCESSFUL CONTINGENT TRANSACTION:
User B creates a complex contingent transaction and broadcasts it while transaction A is still in the memory pool.
Since B satisfies A's condition, both A & B will be mined by a miner, successfully crossing the transaction and completing the sale safely.
In this way a contingent transaction allows both a & b to transact safely, and adds value to the Bitcoin transaction set.
This transaction method also appears to be much more efficient than one with two sets of collateral, lag time, confirmations, and a market maker. Technically, it can be done with two participants only if we used the more advanced Contingent tx type.