Update on the feature of PULSE
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PulseCoin (PLSE) Concept Paper
Introduction
PulseCoin (PLSE) is a revolutionary blockchain that aligns the incentives of miners, developers, and users by directly linking coin issuance to network activity. By leveraging a self-regulating mechanism, PulseCoin ensures a sustainable and dynamic blockchain ecosystem.
Key Features
- Consensus Mechanism: Proof of Work (CPU Mining)
- Reward System: Transaction-based rewards
- Total Supply Management: Maximum supply cap of 100,000,000 coins
- Divisibility Requirement: Divisible by 7
- Blockchain Security: Decentralized consensus
- Network Sustainability: Economic incentives for miners and users
The Order Algorithm
The Order Algorithm is the core component of PulseCoin that governs coin issuance, transaction fee collection, and difficulty adjustment.
Transaction Fee Reissuance
Collected transaction fees are reissued as part of the block reward, following the same reward calculation formula. This ensures continuous incentivization and network sustainability.
Blockchain Dynamics
Initial Phase
- PulseChain starts with an initial supply and base reward.
- Blocks are mined using CPU-based Proof of Work (PoW).
- Miners receive rewards based on the number of transactions processed per block, incentivizing high transaction throughput.
Difficulty Adjustment
- The difficulty adjusts based on the number of miners and their collective hash rate.
- Higher hash rates lead to increased difficulty, ensuring network security.
- Lower hash rates reduce difficulty, maintaining accessibility for miners.
Transaction-Based Issuance
- Rewards for each block are calculated based on the number of transactions it includes.
- Higher transaction volume per block results in higher rewards, encouraging miners to include more transactions.
- The block reward is a function of the transaction count and a base reward factor, ensuring dynamic coin issuance.
Economic Sustainability
- By tying rewards to transaction volume, PulseChain promotes network activity and user engagement.
- Miners, users, and developers all benefit from a vibrant, active blockchain ecosystem.
- Reissuance of transaction fees keeps the system balanced and fair.
Diagram of PulseCoin Overview
```
+--------------------------------+
| PULSE Coin Features |
+--------------------------------+
| |
v v
[Consensus Mechanism] [Reward System]
(Proof of Work - CPU Mining) (Transaction-based Rewards)
| |
v v
[Total Supply Management] [Divisibility Requirement]
(Max Supply: 100,000,000) (Divisible by 7)
| |
v v
[Blockchain Security] [Network Sustainability]
(Decentralized Consensus) (Economic Incentives)
+----------------------------+
| Order Algorithm |
+----------------------------+
| - Manages coin issuance |
| - Collects transaction fees|
| - Reissues collected fees |
| - Ensures smooth operation |
+----------------------------+
```
Conclusion
PulseCoin is a blockchain designed to promote active user engagement and ensure the sustainability of the network. By directly linking coin issuance to transaction volume, it creates a fair and dynamic ecosystem where miners, users, and developers are all incentivized to contribute to the network's growth and stability. With a robust mathematical framework and a clear set of rules governed by the Order Algorithm, PulseCoin aims to be a reliable and innovative digital currency for the future.
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This concept paper provides a comprehensive overview of PulseCoin, including its unique features, mathematical formulas, and the mechanisms that ensure its sustainability and fairness. Feel free to share this with the community and invite developers to join the effort in making PulseCoin a reality!
Topic: PULSE- Transaction-Incentivized Blockchain Network (Read 38 times)
[PULSE Coin Overview]
+-------------------------------+
| PULSE Coin Features |
+-------------------------------+
| |
v v
[Consensus Mechanism] [Reward System]
(Proof of Work - CPU Mining) (Transaction-based Rewards)
| |
v v
[Total Supply Management] [Divisibility Requirement]
(Max Supply: 100,000,000) (Divisible by 7)
| |
v v
[Blockchain Security] [Network Sustainability]
(Decentralized Consensus) (Economic Incentives)
Hey guys I just brainstorming for hours with chatGPT and think of this PULSEcoin.
a blockchain that incentive user to make transaction, the less transaction they make, the slower network will be and hard for miner to get reward.
Here's the full feature of PULSE
1. Consensus Mechanism
- PULSE Coin: Uses Proof of Work (PoW) with a unique twist where rewards are based on transaction volume. The mining difficulty adjusts dynamically based on the number of transactions in the network.
- PULSE Coin: Scalability is driven by user transaction activity. As transaction volume increases, the network becomes easier to mine, promoting higher throughput.
3. Transaction Fees:
- PULSE Coin: Transaction fees are dynamically adjusted based on network usage. More transactions lead to lower fees, incentivizing network activity.
4. Reward System
- PULSE Coin: Miners earn rewards based on transaction volume. The more transactions in a block, the higher the reward, encouraging miners to facilitate network activity.
5. Supply Management
- PULSE Coin: Has an fixed supply cap of 100.000.000 with new coins entering circulation based on transaction activity. This encourages user to use it wisely as it only have fixed supply.
6. Divisibility:
- PULSE Coin: Ensures divisibility by 7, facilitating microtransactions and compatibility with various use cases.
7. Network Security:.
- PULSE Coin: Security is maintained through decentralized PoW with dynamic difficulty adjustments. The network becomes harder to attack as transaction volume increases.
8. User Participation:
- PULSE Coin: Users drive the network through transaction activity. Miners earn rewards based on facilitating these transactions, promoting an active and engaged user base.
9. Implementation Language:
- PULSE Coin: Flexible in implementation language, potentially utilizing Rust or other languages based on development needs.
10. Use Case Focus:
- PULSE Coin: Focuses on being a global payment solution with community-driven economic incentives, encouraging widespread adoption and use for everyday transactions.
11. Governance:
- PULSE Coin: Potential for community governance to adjust network parameters and ensure fair and transparent management of the blockchain.
what do you guys think? I planned to develop this on bare bones capability, and let it go to the crypto community direction.
I believe a digital currency must be actively used and every part of blockchain community held responsibility on it's usage, thus a blockchain that reward activity across users, miner, and developer. which is more transaction across user means more reward for miners. In my mind a perfect blockchain to use for everyday transaction in hope to fully transition from fiat.
+-------------------------------+
| PULSE Coin Features |
+-------------------------------+
| |
v v
[Consensus Mechanism] [Reward System]
(Proof of Work - CPU Mining) (Transaction-based Rewards)
| |
v v
[Total Supply Management] [Divisibility Requirement]
(Max Supply: 100,000,000) (Divisible by 7)
| |
v v
[Blockchain Security] [Network Sustainability]
(Decentralized Consensus) (Economic Incentives)
Hey guys I just brainstorming for hours with chatGPT and think of this PULSEcoin.
a blockchain that incentive user to make transaction, the less transaction they make, the slower network will be and hard for miner to get reward.
Here's the full feature of PULSE
1. Consensus Mechanism
- PULSE Coin: Uses Proof of Work (PoW) with a unique twist where rewards are based on transaction volume. The mining difficulty adjusts dynamically based on the number of transactions in the network.
- PULSE Coin: Scalability is driven by user transaction activity. As transaction volume increases, the network becomes easier to mine, promoting higher throughput.
3. Transaction Fees:
- PULSE Coin: Transaction fees are dynamically adjusted based on network usage. More transactions lead to lower fees, incentivizing network activity.
4. Reward System
- PULSE Coin: Miners earn rewards based on transaction volume. The more transactions in a block, the higher the reward, encouraging miners to facilitate network activity.
5. Supply Management
- PULSE Coin: Has an fixed supply cap of 100.000.000 with new coins entering circulation based on transaction activity. This encourages user to use it wisely as it only have fixed supply.
6. Divisibility:
- PULSE Coin: Ensures divisibility by 7, facilitating microtransactions and compatibility with various use cases.
7. Network Security:.
- PULSE Coin: Security is maintained through decentralized PoW with dynamic difficulty adjustments. The network becomes harder to attack as transaction volume increases.
8. User Participation:
- PULSE Coin: Users drive the network through transaction activity. Miners earn rewards based on facilitating these transactions, promoting an active and engaged user base.
9. Implementation Language:
- PULSE Coin: Flexible in implementation language, potentially utilizing Rust or other languages based on development needs.
10. Use Case Focus:
- PULSE Coin: Focuses on being a global payment solution with community-driven economic incentives, encouraging widespread adoption and use for everyday transactions.
11. Governance:
- PULSE Coin: Potential for community governance to adjust network parameters and ensure fair and transparent management of the blockchain.
what do you guys think? I planned to develop this on bare bones capability, and let it go to the crypto community direction.
I believe a digital currency must be actively used and every part of blockchain community held responsibility on it's usage, thus a blockchain that reward activity across users, miner, and developer. which is more transaction across user means more reward for miners. In my mind a perfect blockchain to use for everyday transaction in hope to fully transition from fiat.
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