Topic: Good Ideas for Successful Alt Coins - Read This Before Coding Your New Alt Coin! - page 2. (Read 1656 times)

Maybe there is another way to do it. Instead of saying impossible, try to figure out a way. If you cant do it let someone else try.

Innovation? The concepts you lay out are impossible, and a complete departure from the bitcoin protocol.

Both of your suggestions lean heavily towards centralization.

That is what innovation is for. I didn't say it would be easy, but it is necessary. Someone need to figure out  way instead of being a nay sayer.

Yea, the reason Visa/MC/etc confirm so fast is centralization of their checkpoint/verification system....

Agree WDC is proof that a well designed and executed coin, with pre-release announcement and excellent marketing, can still succeed

Anddddd this quote alone proves you have no idea what the hell you're talking about.

Network hash rate aside, confirmations are only as reliable as the distance of time between them. 4 confirmations at 5 seconds no more reliable than 1 confirmation in 20 seconds

New alt coins are being released everyday. Some are useful; most are not.

Successful Alt Coins
In order to have a successful alt coin you have to offer something unique; a feature that no coin before it has.  For example Litecoin incorporated scrypt into bitcoin and then made the confirmations faster.  Do not just copy some other coin then tweak some features and call it a new coin. Offer something new and exciting.

Some Ideas for Alt Coins

1. A scientific coin
    People are complaining about an large amount of computer power going to waste mining bitcoins. Well develop a coin that can take input for proof of work. Universities or individuals could submit work to the p2p network to be used in place of the normal proof of work. The work could be distributed to miners in place of the normal proof of work. Afterward the results of the work could be sent back to the submitter. Kinda like SETI meets bitcoin.

2. Point of Sale (POS) coin
    Litecoin and Worldcoin are really fast for confirmations. But if the crypto-community really wants to see   crypto take off they are going to have to find a way for point of sale (POS) systems to use the coins. Yes, we know that Point of Sale systems can use a third party for bitcoin transactions. But, that costs money.

What is needed is a coin that can confirm as fast as a Visa and MasterCard transaction. There is a way to do it. We just need to figure it out. That means at least 4 (four) confirms in under 20 seconds. We need a coin that can do a single confirmation in under 5 seconds.

3. Your Idea Goes here
    Please reply to this post with other good ideas for our coders looking to make some good coins.

Release Properly Your New Coin

Some coins have failed because they did not follow the rules of releasing new coins.

1. Do Not Pre-mine anything
2. Write a whitepaper and document everything.
3. no centralization. all p2p
4. keep everything open-source
5. make something practical that can be used by the mainstream.
6. announce beforehand. Follow the pattern of Litecoin's release and Worldcoin.

Here is a quote from a user here about Worldcoin's release

"Why are people liking this copycoin with fast transactions? What did I miss in the last 43 pages?"

"The name, speed of transactions, professionalism of dev's, website, twitter, pools, windows binaries at launch, settings clearly posted, regular updates, etc...  Take your pick. What's not to like?  Best launch we have seen in a really long time.  This is probably why it's gaining so much traction."

Please Add your input so we can encourage better coins and further the cryptocoin adoption into the mainstream...