This is what Aerocoin is claiming to do basically. You get Aeros through transactions via interest.
But i think all those IPO coins are scams
Topic: Proof of Transactions - page 2. (Read 1600 times)
So what kind of passports or drivers license or whatever do you plan to use to try to not count people who have thousands of wallets that send "transactions" back and forth between them just to create fake "activity" ?
-MarkM-
-MarkM-
Perhap better name would be Proof of Use (PoU)...
Hey guys,
Yesterday talking with Zesterer in fastcointalk.org forums, he told to me that he with a friend talked about to make a some coin that rewards its use. Thinking on this idea, the system Proof of Transactions (PoT) came to my mind...
It is a system where the blocks are discovered by who has more transactions. It is simple:
Hashing would be fixed to one hash per second for everyone.
The difficulty would not be equal for everyone, it would be variable and less for addresses with more transactions. And when somebody discovers one block, his transactions count would be reset to 0, and the count would start again until the next discovery. The reward would be the fees of transactions in the block.
It is very simple, but I think that system promotes the use of the coin, as Zesterer said. And avoids 51% attack because in each discovery resets the discovery probability to 0 to the account did it.
I think it would be a good system to implement a future version of a coin to promote the use and distribution more equity and faster of the coin of our day to day...
It does not reward the huge amount of money, neither who buy more technology and spend more energy... simply rewards to people spend their money.
This coin would not have mining, all amonut would be generated at the begining, so it would be necessary a good distribution system (equity and fair)...
It is a today idea, I dont have details about it yet... so I hope your opinions and pros and cons that you see it...
Thanks in advanced...!
Yesterday talking with Zesterer in fastcointalk.org forums, he told to me that he with a friend talked about to make a some coin that rewards its use. Thinking on this idea, the system Proof of Transactions (PoT) came to my mind...
It is a system where the blocks are discovered by who has more transactions. It is simple:
Hashing would be fixed to one hash per second for everyone.
The difficulty would not be equal for everyone, it would be variable and less for addresses with more transactions. And when somebody discovers one block, his transactions count would be reset to 0, and the count would start again until the next discovery. The reward would be the fees of transactions in the block.
It is very simple, but I think that system promotes the use of the coin, as Zesterer said. And avoids 51% attack because in each discovery resets the discovery probability to 0 to the account did it.
I think it would be a good system to implement a future version of a coin to promote the use and distribution more equity and faster of the coin of our day to day...
It does not reward the huge amount of money, neither who buy more technology and spend more energy... simply rewards to people spend their money.This coin would not have mining, all amonut would be generated at the begining, so it would be necessary a good distribution system (equity and fair)...
It is a today idea, I dont have details about it yet... so I hope your opinions and pros and cons that you see it...
Thanks in advanced...!
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