Proof of Person - Equal Stake is a proposed solution for the problem of Greed and Envy during the startup of second generation crypto currencies:
Even though technically some of the second generation cryptocurrencies have turned out to be exciting technical successes, many of the recent projects that featured pre-mined ‘Proof of Stake’ concept currencies - NXT, Qora, and now also NEM - have been plagued by the perception that the process of starting up the currency is not fair, but hampered by greed and envy.
I do acknowledge that greed and envy may have a useful role to play in society, but I have the suspicion that in the case of establishing buy-in and confidence into a currency, it would be more likely to succeed if the currency is perceived as fair, and of a steady value.
Initial axioms:
1. Distribution has to be fair, not only at a certain point in time, but for all future generations.
2. Every living, adult human should have equal access to the currency.
Proposed mechanism of distribution:
3. Every living, adult human should receive one free stake of currency, once in their life, with the opening of their account.
4. The opening of a new account is the occasion when new coins are forged or ‘mined’. That process might be drawn over a period of time, for instance over one year, in order to average the received value and also to introduce the newling to the concept of currency.
5. Opening of a new account is supervised by multiple existing mature accounts, called bankers, by vouching for the Proof of Person:
6. Biometric identification of sorts as well as two forms of traditional identification are hashed into or included with the account number.
The benefit of such a system might be that the value of the currency would not fluctuate that much over time, because essentially you are having IPO’s year round, and the ratio of coins to individual is maintained.
This concept of distribution can be applied to any other 100% Proof of Stake design.
Clearly the rewards for maintaining nodes, the network and incentives for development can co-exist along the Proof of Person - Equal Stake concept.
Pentamon
Even though technically some of the second generation cryptocurrencies have turned out to be exciting technical successes, many of the recent projects that featured pre-mined ‘Proof of Stake’ concept currencies - NXT, Qora, and now also NEM - have been plagued by the perception that the process of starting up the currency is not fair, but hampered by greed and envy.
I do acknowledge that greed and envy may have a useful role to play in society, but I have the suspicion that in the case of establishing buy-in and confidence into a currency, it would be more likely to succeed if the currency is perceived as fair, and of a steady value.
Initial axioms:
1. Distribution has to be fair, not only at a certain point in time, but for all future generations.
2. Every living, adult human should have equal access to the currency.
Proposed mechanism of distribution:
3. Every living, adult human should receive one free stake of currency, once in their life, with the opening of their account.
4. The opening of a new account is the occasion when new coins are forged or ‘mined’. That process might be drawn over a period of time, for instance over one year, in order to average the received value and also to introduce the newling to the concept of currency.
5. Opening of a new account is supervised by multiple existing mature accounts, called bankers, by vouching for the Proof of Person:
6. Biometric identification of sorts as well as two forms of traditional identification are hashed into or included with the account number.
The benefit of such a system might be that the value of the currency would not fluctuate that much over time, because essentially you are having IPO’s year round, and the ratio of coins to individual is maintained.
This concept of distribution can be applied to any other 100% Proof of Stake design.
Clearly the rewards for maintaining nodes, the network and incentives for development can co-exist along the Proof of Person - Equal Stake concept.
Pentamon
I am thinking about that since months now, but didn't post, because there will be people using half ready concepts and destroy the possiblity at the beginning. Because the first time you can maybe reach people. If it was somehow wrong the second time you bother them already. And the 3rd time is only spam.
I think its too early for it. I have also a few concepts for it, thinking a little further with privacy, but they are all not really useable yet.
