I have to say that all those complicated POI or PoA (node) or whatever leads to nothing but messing people's minds and others trying to exploite the system by spamming transactions etc...
The best egalitarian system would be a totally random harvesting, that way people with 10000 or 5000000 balance would have the same chance to find a block, this is such a waste of time man, i can't believe this.
Harvesting is to support the network and gives equal chances to newcomers wtf it seems so obvious. You keep your nems in the hope that it will gain value like bitcoin or any other coins, no need to make it a harvesting ponzi or something and have people shouting that pos related systems are making the rich richer.
Man, this is so simple.
No it is not simple...
I believe our devs would have it much easier for them to code a system where every node has the same chance on getting the block...
That wouldn't work because if I create a botnet with thousands of computers than i own the NEM.
Other route would be to give voting power to each monetary unit - like NXT did - then you have whales who get almost all the forging rewards and also it rewards hoarding
NEM is unique because of that Eigentrust model where the importance of each node is constantly calculated and it is most fair and also incentivizes spending and being useful and not just hoarding.
Glad to have you asking questions. Please stop by at
http://nem.io/ and read more about NEM.
EDIT: also equal does not mean fair.
There's like 5 lignes on POI in the blog, as if i didn't read that already. Basically it tells me that POI is 90% classic POS with a little piss cat on it like node's PoA, ololz spam transactions to get importance score. I don't mean to trash your work, i now you spend lots of time on POI, refining it etc...But in the end, when people asks about it, answer is oh you know it's a very complicated thing with a lot of parameters. If it's more than just a marketing trick to say we have a whole new algorythm to stand out among other pos systems when there's actually nothing groundbreaking in it, then care to explain in details as answers have always been foggy. People don't have a clear picture. Did you put a ceiling at least on the classic pos side of things ? i.e importance score not increasing anymore above a certain amount of vested balance to avoid nxt syndrom where people with 300000 nxt can't harvest shit, discouraging newcomers. If you did, why it's not specified anywhere. I think i read about that ONE TIME. Yes, one time.
To me, nem is good for its distribution, multi-sig, cold wallet, delegated harvesting, upcoming potential features...POI is a foggy mess, don't care so much if it just bring 5% fairness more than nxt in the end. A very complicated thing that can lead to security issues or at least gives a pretext to people like CFB to question it.
Just my humble opinion. I just don't see what is so great about POI. Like Node or Crypti, wow we spent countless months on a whole new pos algorythm from scratch peeps that completely change POS approach by a massive 2% instead of working on real marketing and adoption
well, enough of that, i said what i had to say. Maybe there some things i don't see about POI, or you just didn't share about the whole plan yet
