I have an innovative idea of creating a cryptocurrency in which transactions can be verified within 10 seconds.I have idea of how this could be done but I don't know programming.
So anybody having enough knowledge to create a crypto currency from almost scratch,please pm me or reply here.
we could create this currency together.
So anybody having enough knowledge to create a crypto currency from almost scratch,please pm me or reply here.
we could create this currency together.
At 10 seconds, the majority of the miners or stakers on the internet clients would not have time to reach consensus , causing what I like to call an Orphan Storm.
Even at 30 second block speeds we can see orphan storms bog down the network on occasion.
Study theses issues to see the problems with your idea
Orphan block : A block which is not a part of the valid blockchain, but which was instead part of a fork that was discarded.
Blockchain bloat : Faster the blockspeed the faster it will grown in Size.
Chain Reorganization : The term "blockchain reorganization" is used to refer to the situation where a client discovers a new difficultywise-longest well-formed blockchain which excludes one or more blocks that the client previously thought were part of the difficultywise-longest well-formed blockchain. These excluded blocks become orphans.
FYI:
Nimble coin was going do 5 second block time with 20 second confirmation, but dropped it as far as I know.
http://nimblecoin.com/
