Just out of interest which came first pos3 or posp?
I would say, about the same time. Just as we had launched our own implementation of a coin-age-less staking algorithm, we came across Blackcoin's PoS3 which had just come out.
PoSP provides excellent solutions in efficiency, decentralization and economic value.You explain is still difficult to understand POSP
Well, biggest strong point of CBX and PoSP is that it allows investors to earn much more than inflation of yearly percentage return from their investment, using a coin that has a low inflation at 2%.
With PoS"P", people are rewarded for "P"articipating in the overall network - it is only those that keep their Vaults open and do stake who will receive rewards for participating.
that is rather impressive then because rat4 is often regarded the top pos dev here on this board... but if you guys didnt just modify his code and came up with something so similar at the same time that demonstrates you have a high caliber POS developer onboard.
that counts for a lot.
OK. If this is important, then I have good news for you: here is how it happened:
Already, back in 2015, the altcoin cryptosphere was already so big, that we could not possibly know of everything going on in all other coins.
So I had no idea what was going on with Blackcoin and PoS3, this is back in 2015...
elambert imagined re-engineering CBX, a PoW/PoS hybrid at the time, to
1) removing PoW and becoming a 100% PoS coin which was already a big step (ethical and ecological)
and 2) creating an algorithm where people are rewarded for "P"articipating to the network, a novel idea at the time - essentially removing coin-age from PoS.
Then, right at the same time (to make things interesting) we lost our main programmer, raizor, who went for another project. We do have to credit raizor for the name "PoSP", however.
I was introduced to Alex4J, (here) who, I could see, was a programmer genius and he accepted this challenge of making elambert's vision a reality; and I can confirm that he did create PoSP from scratch.
There were some hickups at the very beginning (there always are) we had to rush a 2nd hard fork (countless hours of work from Alex4J) to a stalled CBX network, but, in the end, PoSP was born!
PoSP is elambert's idea and Alex4J's accomplishment, and nobody else's.
