Interesting idea, especially as Esports is still a growing market.
The only thing I am critical about is the algorithm.
SHA256 is horrible to handle for smaller miners. As there are tons of ASICs out there for SHA256, smaller miners will probably not try to mine and your coin might run into a state of monopoly or oligopoly mining among a few ASICs.
If you were to change to a less vulnarable algorithm, chances are that it is viable for smaller people to support your coin as well.
The blocktime with 10 minutes is quite high, especially considering that a lot of FPS games are fast paced in contrast. Therefore, including maturing of blocks, it will take long to verify your results. So you might play 2-3 more rounds while still waiting for your early results to verify. This may or may not be a good idea, but considering how quick centralized betting systems are (delay of usually less than two minutes) people might see no benefit in a blockchain variant.
If you have thought about those points beforehand, let me know what your input is
Good luck with your coin anyway!
The only thing I am critical about is the algorithm.
SHA256 is horrible to handle for smaller miners. As there are tons of ASICs out there for SHA256, smaller miners will probably not try to mine and your coin might run into a state of monopoly or oligopoly mining among a few ASICs.
If you were to change to a less vulnarable algorithm, chances are that it is viable for smaller people to support your coin as well.
The blocktime with 10 minutes is quite high, especially considering that a lot of FPS games are fast paced in contrast. Therefore, including maturing of blocks, it will take long to verify your results. So you might play 2-3 more rounds while still waiting for your early results to verify. This may or may not be a good idea, but considering how quick centralized betting systems are (delay of usually less than two minutes) people might see no benefit in a blockchain variant.
If you have thought about those points beforehand, let me know what your input is
Good luck with your coin anyway!
Hey! What Algo would you recommend?
I agree with the transaction time. I will lower it to 1 minute block times so the transactions process very quickly.
Thank you for your input! This is exactly why I made the announcement before building the coin. Want to work out the kinks before rolling it out.
As far as I know there are ASICs for SHA256 and Scrypt. So those should be avoided.
Generally, having pools to mine is preferable as it turns a somewhat luck based mining into a steady payout. Therefore I suggest searching pool operators wihch would be willing to maintain a pool from launch on. Ask them which algo is preferable for them, maybe there are pros and cons.
If you look around the forum you will probably find a lot of pool operators.
Also, please note that I am far from an expert on those topics. It is just some experience I got from recent altcoins which I supported.
Another common mistake, while not necessarily serious in nature, is not having a set launch date in the future with all wallets ready. Especially Windows wallets are important. Most Linux systems are able to build the wallets easily, but windows users usually do not have the understanding or the necessary tools.
So in conclusion:
Ask the community (probably the pool operators) to vote/decide on algorithms.
Get your features set in stone inclusing a roadmap. Then announce the launch ahead of time (maybe 1 week in advance).
At launch time, have all the required things ready: Wallets, pools etc.
This will help people to pick it up from the start. Even if some drop it quickly afterwards, getting started is probably the hard thing right with progressing in the long term.
