Topic: The idea of no ledger and no blockchain crypto coin (Read 136 times)

I'm very happy that bitcoin exists
because I've also been thinking about something like that for many years
and I've come up with some different ideas:

Currently it's pretty raw but lets discus, maybe it's worth to develop

My coin acts a real coins much more then other cryptos

What is one coin in my system?
It's some number that satisfies a specific predefined condition and this number can be found only using random search
Base probability of successful search means that you found coin with value of 1
The coin with value 2 means that probability of success is 2 times less or the time to find it 2 times longer then then for coin with value 1, for example it may me 2 times longer number
Ans so on: 4 , 8, 16...

This means that you own not a simple account - you own all your coins separately just like a real ones
Of cause it brings some difficulties: for example you cant send 7 coins if you have 4 and 8 - you have to divide some of you coins to get exact sum of 7 - again just like in real life

Then we have distributed database where all found coins are stored with special signatures of who owns each coin.
If you have mined a new coin you append a special signature like the ones used in regular cryptocoins. This signature allows you check your ownership without revealing your private key - this key acts the same way like it does in bitcoin but in our case it gives you ownership only to a one coin.

When you need to send money to someone, you send your private key proving that you own particular coin and along with that your counterparty send a new signature which will be used to replace the your one.
And you repeat it for all coin that need to be send
Then the network broadcasts this transactions for all nodes

Pros:
 - no blocks, no ledger
 - no mining to confirm transactions
 - very slow growth of database - caused only by a coin mining
 - no history at all

Cons:
 - you have to exchange your coins if you cant collect a specific sum
 - no single private key for all available money, if you have 1000 coins - you have to store 1000 private keys - much money would means much data to store