Topic: Which simple POS alt is most user friendly and secure so far.... (Read 842 times)

TALK ...

but TALK also supports:

ZEIT
PPC
maybe Vcash if they get another market
possible contender VRC

pesobit ... NO ... good start ... will ... wait watch for 333 days before green lighting.

for more info see
https://bitcointalksearch.org/topic/m.17047758

Thanks again for this explanation. I seem a bit more clearly what you mean now. Cheers.

Security Formula for ZEIT's Proof of Stake
hashProofOfStake <= [Coin-age] x [Target]
[Coin-age] = [amount of coins] x [days in stake]
Target=Difficulty

Security Formula for Proof of Stake V3
hashProofOfStake <= [amount of coins] x [Target]

So if my amount of coins on both are 1000 and the difficulty is 1 for each version.
PoS V3
  1000  <=1000 x 1

ZEIT PoS
  1000  <=(1000 x  1) x 1        (if it happens on 1st staking day, Security is the same as PoS3)
20000  <=(1000 x 20) x 1        (if it happens on the last staking day, Security is 20X that of the PoS3 block)  


Actual Chaos Mathematics is above my pay grade.  
Chaos theory is the field of study in mathematics that studies the behavior of dynamical systems that are highly sensitive to initial conditions—a response popularly referred to as the butterfly effect.


 

Thanks interesting.

VeriCoin which uses the PoST protocol and has been around for 2+ years and is open-source.

This is the most secure PoS protocol afaik. 51% attack not possible etc...

Detailed whitepaper here: https://www.vericoin.info/downloads/VeriCoinPoSTWhitePaper10May2015.pdf

Video about PoST here: https://youtu.be/Ov1cAJ1lPVc explaining why it is so secure

Many more videos can be found here: https://www.youtube.com/channel/UCPGh80tmEaW5V-Z-PAqrs0Q

It has one of the best looking QT wallets



And has a turbo sync feature (syncs in about 3 minutes) https://www.youtube.com/watch?v=aj0CvI0QZrM and many more features like VeriBit which allows you to pay with VeriCoin where ever Bitcoin is accepted.

Smart and public dev team https://www.vericoinforums.com/developers/

Roadmap: https://www.vericoinforums.com/roadmap/

Forums: https://www.vericoinforums.com/

Website: https://www.vericoin.info/

Chat: https://vericoin.rocket.chat

And the marketing campaign is about to start..

Gridcoin by far

pesobit coin
is good coin, good price, and good reward in POS
but iam only stake use service poswallet dotcom, not self stake

https://bitcointalksearch.org/topic/ann-wild-beast-block-wbb-on-1extrade-no-premine-honest-the-wild-one-952619

Thanks for the detailed explanation. I'm browsing the zeit thread now. If only I'd become a Knight at the 20k MC .....always missing these ones then again perhaps even getting Knighted at 200k MC could be well worth examining.

Is there some mathematical proof that concludes the trade off between lowering the the % of coins for attack attempt and being protected by chaotic is worth it? then again does math offer explanation of chaos. Then again can math deal with chaos at all.. I'm not really a mathematician.

IMO,
PoSP is just a gimmick , and it actually gives the other users a direct financial incentive to DDOS the other wallets so they can get a higher interest rate.

PoS3, has removed coin age from the equation and replaced it with number of confirmations.
I know they believe it makes the coin stronger however, I believe it makes it weaker.
Because by removing the amount per block variable you decrease the Chaos effect.

Standard PoS using coin age , even if someone purchased 51% of the coin, they still could not even attempt a 51% attack until their coin age was higher.
@ZEIT our coin age is limited to a Max of 20X the block amount, not unlimited which does open up a coin to an attack with much less %, if very few are staking. Plus when a block stakes , it can't stake again for 20 days meaning even if some had 51% of the coins and 51% of the coin age, they start losing the coin age with every staked block for 20 days, Rent_A_Ray stated it best when he said we are Protected by Chaos.
Because no one knows for certain the block amounts or ages per block on a consistent basis, it is too complicated.

Logically it is energy efficient, decentralized , and to be honest, no matter what any one else does, as long as 1 Knight holds the Faith , ZEIT will survive.
The Maximum # of Knights is 300, and only 285 slots are left, it will get harder to become one as time goes on.

 

Is vcash fully open source?
I only ask this because if it is how come that has not been cloned over and over already? It seems to have some very unique and interesting features (that i don't understand the workings of) that seem very useful. Isn't that coin pow and pos or is it just pos now? aside from the small percentage rate (without incentive node )of the POS does it function okay?  I own some but it was a tiny amount and have not used it for such a long time.

Interesting, I watch your posts and you're a very knowledgeable and helpful poster. Do you throw your support behind this coin because you believe in the

a. distribution
b. developer skill and code therefore produced thus far
c. community and drive behind it
d. you were an initial miner or got a lot cheaply early on and are helping build coin for future investment.

all of these or a few or something different. I am genuinely interested in this.

I know you explained it to me before but I can't find it again to read through and try and absorb it fully. I believe you said posp and pos3 were not as much of an improvement in all ways as expected. Although they do encourage people to stake and secure the network over some older methods of POS they allow greater advantage to huge holders was it or something like that?

I have noted this coin down for further investigation.

Im still fond of Litecoin with it being one of the original alts, secure enough.

ZEIT
Proof of Stake 5% yearly

1. fast sync up at the start
√ Use ZEIT Blockchain Snapshot
https://bitcointalksearch.org/topic/m.14024462

2. small resources demanded of hardware
√  Any PC with 2 or more Gig of Ram

3. fast transactions
√  BlockSpeed 30 Seconds, 4 confirmations in 2 minutes

4. max tx per second possible (important)
√  Currently ~144 per second with 1MB Block,  (Works out to 86400 transactions every 10 minutes.)
(If we ever need more, a hard fork to increase block size or go to faster blockspeeds)

5. secure (as possible from know attack vectors) so long as enough people are staking in a normalish distribution
√  Yep  

6. simple coin no need to anon nor smart contracts etc... no 2.0
√

7. tested over time.
√  3 years in March 2017

8. fully open source
√  https://github.com/zeitcoin/zeitcoin 


 

FYI:
One of the Few coins that Marketcap was not devastated by the BTC price increase.  
http://coinmarketcap.com/currencies/zeitcoin/

i would say vcash, but their pos sucks.. very small rate(you can have a better rate if you buy 10k and make a incentive node).
other good options are nav and shadow.

Silk too, i'm staking and it's very good right now but wasnt so easy to set things up.

peercoin? it's certainly been around for what seems like forever and it was the very first coin to incorporate pos. not sure what the tps is though.

do you have an actual purpose in mind for what you want or are you looking for a forgotten gem?

From the 1000's of ALTs out there which is most user friendly and still secure...

1. fast sync up at the start
2. small resources demanded of hardware
3. fast transactions
4. max tx per second possible (important)
5. secure (as possible from know attack vectors) so long as enough people are staking in a normalish distribution
6. simple coin no need to anon nor smart contracts etc... no 2.0
7. tested over time.
8. fully open source