Topic: nthCoin (Read 3156 times)

I am posting on behalf of Rick who I spoke with a few days ago via phone.

I'm going to make nthcoin a BIP instead to avoid competition and confusion.


From : https://github.com/Auxon/nthCoin#nthcoin---a-cryptocurrency-for-creating-a-distributed-blockchain-of-blockchains---a-meta-blockchain


nthCoin - A cryptocurrency for creating a distributed blockchain of blockchains - a meta-blockchain.

Future Home: http://nthco.in (under development)

Conceptual Overview

Cryptocurrencies are designed to support private, secure, reliable, transparent, and trustless transfer of value, or more generally, any information, from one medium to another. The importance of cryptocurrency and p2p distributed ledgers

blockchains - cannot be over stated. It is a fundamentally important breakthrough. However, despite being a revolutionary breakthrough, cryptocurrency has some very difficult challenges ahead.
Due to vast amount of money to be made, there is a new altcoin or scamcoin created almost every day, it seems. Even in the case of Bitcoin, there are still remaining attack vectors, most obvious at this time is the trust put in the developers.

This will become increasingly important problem to address, or mass adoption of cryptocurrencies will stall, and rise and fall with endless pump and dumps and bubbles and crashes. I have no doubt that someday these problems will be solved, or at least mitigated enough that any potential vunerability is detectable, and correctable.

nthCoin will help solve this problem by creating an audit trail of other blockchains, and correlating any exchanges between them, detecting inconsistencies between and within the blockchains, and a method by which to record the history of cryptocurrencies as a whole. This history would expand the possibilies of blockchain technologies, by providing metadata to analyze the "weather" of value, allowing us to visualize and predict the flow of value and information at various levels of abstraction.

Recursive Chains

Generation of recursive chains would be interesting to explore.

Antichains

Blockchain Healing

By implementing a standards based API, nodes can request healing from nthCoin by generation of proxy tokens pinned to the healing coins value, to take over the corrupted blockchain transactions. If and when recovery of the corrupted blockchain is completed, the proxy tokens are burned in conversion back into the original cryptocurrency. If recovery is not possible, or the altcoin is fundamentally flawed and no longer safe to use, then the tokens are converted into Bitcoin, or other high-difficulty, known good, cryptocurrencies.

Auxon - 2017-01-20

Copyright 2017, Botcoin Inc.

Yes Bata is a number of things :

https://en.wikipedia.org/wiki/Bata

So you are talking with satoshi himself 🤣

As posted by pc888, just above, I've decided that nthCoin should be a Bitcoin BIP instead, to avoid competition and confusion.  The purpose of nthCoin is to help Bitcoin and other coins, not hinder them, or take anything away from them, but to help with fraud and the pain of losing your funds with no means of recovery, forever.  So, it makes more sense, after a lot of consideration, to build the concepts of nthCoin into Bitcoin.

Since I really believe the Core code base needs to be refactored into a monadic design, I will do what I can do to refactor Core, and then will do what I can do to help Satoshi Nakamoto implement a Tobin Tax as he has in mind to implement a form of Universal Basic Income using Bitcoin.

So, there's not going to be any premine, or anything like that, instead it's going to be integrated into Bitcoin itself.  I hope to work more closely with Satoshi to implement the UBI, and have started talking to him about issues of identity, and how he envisions the secondary blockchain that holds the unique wallet addresses for individuals. 

Cheers,

Richard Anthony Hein

Any new nthCoin news dev???
About your project, bounty campaign etc

I thought Bata is a footwear brand...

waiting for more info

Oh Really...

I'm going to reimplement Bitcoin in Racket and base nthCoin off of that, so don't expect a wallet until December.

Bata is not sacrificed at all.  I bought about 128 BATA, that's it.  I am pumping it because we need a bartering system based on crypto, that's why.  A year is optimistic, yes, I'm optimistic about certain things.

EDIT:  I just bought a little bit more.  As much as I can right now, in truth.  18K8245MzPcfHgGEyFQv7iTpYXcomDAUoD

link to source ? wallet please..

Richard quit his job to undertake this, needed the $$$ I suppose, Bata was the sacrificial lamb,
And a year is an optimistic time frame for such things also

This topic creator is the same guy who hyped batacoin on twitter yesterday pumped it to 15k and dumped it to 3.5k and this is his first post lol. Let me guess another ....

How many members are there in your team?

NthCoin will use a Pow/Pos hybrid along with a new Quantum-safe cryptosystem.  Currently, we are looking into Daniel Nager's work:  https://groups.google.com/forum/#!topic/sci.crypt/OHF7LEJhaQ0.  I have another idea for a Quantum-safe PoW, if Daniel's doesn't pan out, but Daniel is way ahead of me on this part, so we would like people to attempt to prove Daniel's system is Quantum-safe.

NthCoin will actually have to implement whatever PoW/PoS system is in use by the coins it is auditing, in addition to its own Quantum-safe system, because it will have to generate blocks that match the audited blockchain.  This is part of the mirror coin idea.

The initial supply of mirror coins will match the supply currently in existence for coins which nthCoin is auditing.

NthCoin will also have it's own coin.  I have the thought that NthCoins only have value when pinned to the value of a coin it is auditing or acting as a proxy for.  Much more discussion around this is in order and I welcome any ideas about this.  Proof-of-burn may be required for this system as well, but I'm open to ideas on how to peg/pin nthCoin value to its audited coin(s).

Premine would be mining mirror coins or proxy tokens up to the number of the current supply for the audited coin(s), and so the total pre-mined nthCoins would match the total coins in existence for all the coin(s) it is auditing.  nthCoins will be coloured differently to match the coin(s) it audits.

First pass at this would bind BTC and BTA to nthCoin, and 10 of the most utilized, by release date (December 2017 to March 2018 will be an ICO, I think, and go live March 23rd, 2018).

Any more questions about the specifics mentioned so far?

Thanks,

R.A.H.

what is nth coin youre not explain detail information youre coin
wait to explain youre coin
about total suply coin, ico selling, tipe coin and more about spefication youre coin

at least you share details of your thread, I do not understand how your project

" It's purpose is to eliminate scamcoins from the face of the Earth as well." " This is about saving humanity."

heh, heh, not sure if OP is just a crazy dude, or if this is something, they do seem to have $BTA on board....

i think this is an ann tho ;p wait and see where it goes i guess, definitally some "ambitious" ideas in there

I will be watching. good idea, pulling it off is another matter

Total supply
Premine     
Type         
Algorithm

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