As for PoS, I have not talked about another copy&pasted PoS, but have asked you (all) to help discuss this creatively.
We could, for example, use a PoS-system that gives a user of one wallet only one vote, regardless of how many coins are into it, they receive the number of coins according to their balance, but could not do a 51%-attack. This danger exists, by the way, any day with hashing, too, and more so as the hashing power is concentrated like today for scrypt-based coins. We could also use a CPU-only-mining-algo (maybe with a slider in the wallet-gui, that can adjust, how much of the CPU is used for mining, so that the computer keeps being usable for other things, if needed). But the most important thing is, that it has to be done quickly, as the problem with the blockchain exists for too long now and will not be solved with a bit more hashrate, as someone could hope. A stuck blockchain for more than 10 or 15 minutes for a coin that propagates 90 sec. block-time is simply unacceptable. Let alone 2-4 hours, like it is at the moment sometimes.
More ideas are more than welcome.
As for innovations: There are many coins that keep it simple and work very well. LTC is the best example. Simply works.
Or look at DigiByte. The key features (from their ann-thread):
- Security
- Speed
- Transaction-volume
- Total Supply
- Flexibility
- Marketability & Usability
Those are real benefits for users, even if that is nothing "innovative" in a cutting-edge-style. As you might remember - there was a similar roadmap for Mooncoin and MOON was even earlier on the market than DigiByte (first posting in their
ann-thread: January 10th, 2014; MOON: December 28th, 2013 - see:
https://bitcointalksearch.org/topic/annmoon-mooncoin-you-know-where-its-headed-kgw-exploit-fixed-432014-389403 ). Now compare the market share of DigiByte to Mooncoin. I cannot see any real benefit from SmartLikes and MoonWord. For the known reasons, that I have already explained. We need to do the right things first, really. And if one wants to be first and foremost with the newest and most innovative features (and with this the most risky, because they are not proven) one needs a 100% reliable, competent, quick, comprehensive and capable dev, that can manage any problems fast, with the highest possible attention to detail and very good communication skills. Barry, are you here?
Agreed; the current difficulty retargeting algorithm is quite harsh and will be revised in a future release.
PoS is a potential solution to the issue; however I feel that it favours the existing crowd, not the newcomer who often will want to test the waters.
I'd hoped to see a fairer PoW algorithm, that does not favour ASICs or farms of high-end GPU; making it fair and possible for anyone who wants to support the MOON network entirely able to, with a chance of earning some for themselves.
Several algorithms have been suggested previously; such as Argon2 or Skein (my own favourites), however ultimately i'd like to hear what the community thinks..
james
