Topic: [LTCD] LitecoinDark.com ★ Scrypt ★ Difficulty Shield ★ Multipool ★ Fast - page 180. (Read 368565 times)

I don't know that I'd go quite that far. It is a complete redesign, sure.  It has a lot of advantages in its  design, but it is still a blockchain-based currency.  What's groundbreaking about it is the ease of implementing new features due to its improved architecture.

I'm working on the whitepaper, but I can promise you, it reads more like a software design doc than an traditional whitepaper,because essentially, that's what it is.

ETA: When it's done.  Sorry, that's the best I can give.  I don't like to hype things like this.  Gives too much opportunity for a pre-release pump.  Also, I prefer the merits of my work to be based on the code, not how many shiny baubles I promise to investors.

I know and its the freaking awesome community here that is the result of this.... God job everyone !

Thats the reason when I saw it first time, I was paralized for a second.....
But as it says on page 1 in the OPP: The 2nd generation cryptocurrency

"In short words, Its a complete redesign of the Crypto coin as we know it today and will make BTC , Darkcoin, Blackcoin or BTCDark look like windows 3.1."

that is a bald statement

First we need to release v. 1.1.0, then 1.2 and then 1.3, as we have on our wallet coding roadmap. When these are finished the release of 2 gen Whitepaper will be released, so my guess is 2 gen whitepaper in 6 month time.
One thing we have released from the 2 gen coin is that DifficultyShield lies outside of bitcoin core and thats uniq and a specialty of LTCD.

He's said he's in favor of lowering the block reward and extending mining.  He's also said this:

Do we have any ETA, though?

Otherwise I wouldn't write them....
Troll has been working on this for 14 month now.

Are you sure?

We are working on the suggestions we have got from the community. But haven't decided yet 100%, but when looking at the Poll it looks like we will lower blockreward a lot and hopefully fast to let the coin be mineable for a long period ans to prevent 51% attacks.

And any cons despite the ones which Viper1 mentioned?



Making it hybrid sounds like a good idea. I'm not sure what Devs think about it

I trust and I hope your right!

hihi

Yes, we do and it is mind blowing.
Some teasers:

- Update of Wallet through PUSH (no more using wrong version of Wallet)
- Features can be build in to wallet without breaking blockchain.
- Change a difficulty algorithm by replacing a dll instead of needing a fresh wallet.
- Add a hashing algo to the mix at any given point in time
- Many more, not to be mentioned yet, as we have to keep them secret while we are working on them.

In short words, Its a complete redesign of the Crypto coin as we know it today and will make BTC , Darkcoin, Blackcoin or BTCDark look like windows 3.1.

Oh I see, makes sense I just meant that more people will stake and hence less in the market...but I suppose if there is still the incentive to mine there is more coins coming into the market that way.

Not sure exactly what you're asking since going PoS either does away (sort of as it's just a lot harder with PoS) the 51% attack issue if you don't have mining, or it helps to alleviate it by having people staking.

But I'm for having a hybrid PoW and PoS coin as I believe the combination creates a stronger coin in the long run.  Peercoin for example is a hybrid.

So are you for or against POS? Seems like the con would outweigh the Pro there..

Lowering the reward involves extending the mining period as well so there's a few benifits IMO.

1. More interest in the coin, more people involved etc which is better overall as it leads to a more active market, more people wanting to use the coin etc.

2. The network is more stable when the coin is being mined. Take a very rare coin like Firecoin that's only PoS. They have a problem there because not a lot of people are staking and so transactions can take a long time to occur.  But in another rare coin like Uno, they still have mining and thus transactions are faster.

3. Although staking creates new coins, people tend to horde them and they don't make it out into the market. On the other hand, miners want to sell their coins and so there are fresh coins coming into the system constantly which also should help to spread out the distribution more.

4. Less coins means the price should stabilize, not be susceptible to as many "large" dumps and actually go up as time progresses.

As for cons, the only thing I can really think of is that as long as the coin is being mined, it could be susceptible to a 51% attack. Once PoS is implemented though, that should help to alleviate that somewhat.  Maybe if someone else knows some other Pros and Cons they could outline them.

They have revealed quite  a bit about it actually, but I'm sure there is more they aren't revealing yet.

Does anyone think we will see a 10ksat ltcd by the end of the month?

So far we don't event know what is this gen. 2.0 so don't get too excited...