Simple question for alternate developers

Red

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Quote from: Narydu on October 12, 2011, 07:11:43 PM

Yes those 3 words aren't self explaineables Grin

I'm thinking of a coin for a local proyect with no intention to have a market value but uses the cryptographic transfer process that bitcoin has for transfering holding and registering the amounts on each address.

About a year ago, I guy linked to his libraries for doing just this. It was aimed at anonymous banking relationships. Not so much coins, but like bearer bonds and things like that. I recently saw it linked but I can't find it.

Edit:

Search "open transactions" by user "fellowtraveler"

I think this was his first thread, but there are lots of others.
https://bitcointalksearch.org/topic/open-transactions-untraceable-digital-cash-847

Narydu

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Yes those 3 words aren't self explaineables Grin

I'm thinking of a coin for a local proyect with no intention to have a market value but uses the cryptographic transfer process that bitcoin has for transfering holding and registering the amounts on each address.

Though I think Stephan got a good clue and answer for my question. Just a technical aspect for me to understand (ok this shows my rookie state on technical aspects) its the miners who validate the blocks and transactions or it's the bitcoin client? Who or which are the nodes to whom the transfer cost are payed? I don't think of miners innthis currency but on clients validating the network...

Lolcust

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Hillariously voracious

Could you provide more details as to "cryptotransfer money exchange" aspect ?

Stephen Gornick

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Quote from: Narydu on October 10, 2011, 11:25:46 PM

Could it be done an alternate cryptocurrencie with the following assumptions?
- used mainly as a cryptotransfer money exchange.
- the coins are not mined but issued.
- the blockchain is still shared and validated by all the pc connected to the network.
- uses the same address transfer process.

Perhaps this is a stupid simple question, perhaps you didn't even understood my questions, but please answer back.

Thanks in advance.

Just like how I0Coin created no coins upfront, a variation could be made where all the coins are issued with the first block, for instance.

I believe BeerTokens is an example of this idea, implemented:
- http://exchange.beertokens.info/docs/beer-crypto-currency-trust.pdf

I would suppose the hardest part is if the currency attempts to emulate bitcoin's decentralized nature then there is the need for significant mining efforts to occur so that the double-spend attack (er., the reverse and respend attack) isn't easily attainable through achieving 51% of the network strength.

If you don't want decentralized, then I suppose you could get by simply by having at check that the hash for each block matches up against the chain's master node. But if you are going to do that, there are easier ways to do so than to add the overhead of Bitcoin's block chain approach.

Narydu

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Activity: 743

Merit: 510

Could it be done an alternate cryptocurrencie with the following assumptions?
- used mainly as a cryptotransfer money exchange.
- the coins are not mined but issued.
- the blockchain is still shared and validated by all the pc connected to the network.
- uses the same address transfer process.

Perhaps this is a stupid simple question, perhaps you didn't even understood my questions, but please answer back.

Thanks in advance.

Topic: Simple question for alternate developers (Read 763 times)