Quick transaction times and a dev team that is active. 
Topic: Building the ultimate beast (altcoin specs) (Read 646 times)
Not that quantity matters with pricing but its nice to see numbers hitting your wallet / activity. Not overly crazy but, 1 coin per kh a day at least. Bonus blocks as well make all of us happy. Quick transaction times and a dev team that is active.
Quick transaction times and a dev team that is active.
Don't forgot that with POW you pay for the hardware too. You could almost say that the more money you have for hardware and electricity, the more likely you are to get a higher reward. This is the same theory with POS but you put that money into the coin. But I see your point about having a 3rd party. I think this is the problem POS/POW hybrid solves.
So, on top of your suggestions, I'd like to add POS/POW. Like Peercoin, perhaps.
I'd also like to see the coin Turing complete, maybe like Ethereum.
Visa/Mastercard speed transaction times would be great too. Maybe like what eMunie proposes?
That's about all.
So, on top of your suggestions, I'd like to add POS/POW. Like Peercoin, perhaps.
I'd also like to see the coin Turing complete, maybe like Ethereum.
Visa/Mastercard speed transaction times would be great too. Maybe like what eMunie proposes?
That's about all.
If you could choose at least 5 qualities / tech specs for a new coin, what would they be?
This thread is meant to gather opinions on what makes an altcoin great. Sort of like putting together an Allstar sports team.. the best qualities/specs from the best coins.
Personally, I like:
1. The Kimoto Gravity Well - I feel that this one is necessary to combat multi-pools in POW coins.
2. Adaptive N-Factor - Introduced in Vertcoin to hinder ASICs taking over (also POW).
3. Multiplatform - Wallets for Windows, Mac, Linux, Android.
4. ENS addresses - eMunie will have the ability to register easy to read addresses like "casino" or "yourname". I think NXT has this too already (correct me if I'm wrong).
5. Decentralized exchange - We have yet to see one in action, but I feel it's an important development to avoid centralization.
Other than that, there's the obvious issue of premine/fair distribution. I still lean a little bit towards POW over POS.. or at least some way for acquiring the coins that doesn't mean paying the developer with fiat or some other coin. POW = you pay for electricity.. in other words: you pay a third party that doesn't have any stake in the coin.
Edit: Wanted to add this:
The future payment protocol of Bitcoin (what is it.. BIP70?) should IMO also be a role model for altcoins. Addresses will be completely scrapped, invoices and refunds will be made possible. If an altcoin wants to compete with Bitcoin, these features should not be missing.
This thread is meant to gather opinions on what makes an altcoin great. Sort of like putting together an Allstar sports team.. the best qualities/specs from the best coins.
Personally, I like:
1. The Kimoto Gravity Well - I feel that this one is necessary to combat multi-pools in POW coins.
2. Adaptive N-Factor - Introduced in Vertcoin to hinder ASICs taking over (also POW).
3. Multiplatform - Wallets for Windows, Mac, Linux, Android.
4. ENS addresses - eMunie will have the ability to register easy to read addresses like "casino" or "yourname". I think NXT has this too already (correct me if I'm wrong).
5. Decentralized exchange - We have yet to see one in action, but I feel it's an important development to avoid centralization.
Other than that, there's the obvious issue of premine/fair distribution. I still lean a little bit towards POW over POS.. or at least some way for acquiring the coins that doesn't mean paying the developer with fiat or some other coin. POW = you pay for electricity.. in other words: you pay a third party that doesn't have any stake in the coin.
Edit: Wanted to add this:
The future payment protocol of Bitcoin (what is it.. BIP70?) should IMO also be a role model for altcoins. Addresses will be completely scrapped, invoices and refunds will be made possible. If an altcoin wants to compete with Bitcoin, these features should not be missing.
Jump to: