A Proof-of-Stake Protocol v 2.0
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Be careful with big statements like that Lizhi, I might just get my way in Scotland and create the first Gvt chain, blow you ALL out of the water O:-)
Partial POS, sure, I don’t mind that. I understand your looking down the road and it’s still called pos no matter if you put a skirt on it and cal it “fluffys day out” ^-^
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We have a fair mining for 1.25 years. After 6 to 9 months, we will have the ability to start POS. But before that we have many things to do. Upgrade to 0.9.2, adding the multisignature Technology. To design UI interface Wallet .
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I think you misunderstood what I meant.
My goal is to find suitable for our development path, not stop there, and not copied.
In my mind is Proof-of-Service , not Proof-of-Stake . I called it S2S (Service to Service).
The following three cases:
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A man had graphics card , he can mine feathercoin .as we are now.
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A man have not graphics card ,he have some money,he can buy some feathercoin , and use the FTC mine.
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A man have not graphics card ,he have not money too,he can open his feathercoin wallet and provide P2P services with his bandwidth.
Of the three cases FTC can be achieved.
We love all others, they too love us all .
Please told me POS is not a long term plan. Even a mixed POW and POS will prevent people spending the coin. You can compare the PPC and FTC transaction on average.
If POS is the long term plan, I would have to re-valuate the potential of FTC .
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This will be determined by the market,If prices fall below the electricity costs,POS will improve our ability to survive.I recommend using a PoW in the first 4 years, The first five years of the start, will use PoS.
But this is not the only.If prices continue to fall, PoS is a good choice.
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This will be determined by the market,If prices fall below the electricity costs,POS will improve our ability to survive.I recommend using a PoW in the first 4 years, The first five years of the start, will use PoS.
But this is not the only.If prices continue to fall, PoS is a good choice.
Assume the electricity cost you are talking is $0.04 . You means price below that will make FTC change to POS for a while (or forever) . Or you means change to POS as a temp solution???
what happen in NXT is already make people concern about POS. I can only said POS is more centralize when compare with POW. And honestly I don’t thinks is a good choice.!
By the way change to POS is already a decision??
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Not a decision yet, don’t even think its worked its way to a full discussion yet.
Only the change to Neoscrypt is set in stone at the moment and even that the date hasn’t been set yet.
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No , It is not a decision, only discuss.
But I think the miners will not bear the loss,so We need to make early preparations.
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Apparently a spot was left open from the very beginning so dropping in PoS could be achieved relatively easily…
I’m not a fan of PoS as it has exploits which are doubly effective consider ftc has it’s mystery 33% holder… *cough btc-e*
From what I understand, there’s no way to make PoS fair and unexploitable.
With all that said, I don’t know enough about PoS and I’m purely focused on this list at the moment.
NeoScrypt.com
NeoPool
NeoX
2FA/Multisig
FTC to the Moon
Dark/Light Addresses
Finding productive Staff/TeamI know there’s a couple of other things on my mind but the above I feel are far more important than PoS at this given point in time.
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My primary job is to stop the price decline.But unfortunately, those exchange create a huge number of new currency,They sell the FTC, get high returns .So, I think PoS and DAC.
33% holder is not a problem,It is not one holder,POS will collapse his account.
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We could have a standard fee put into all transactions which would be for the communities bounty pool?
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Personally, I don’t think we should make decision base on the price / try to stop the price fall. What we do should be good for the coin not good for the price.
We are not Fed or Goldman Sachs.
As I know FTC is a high inflation coin. (at least in the first 4 years) . It does not surprise me if the price fall to 1 cents (I hope it will not happen but it could)
I thinks some of the coins is already mining with negative income, but i don’t see great drop in hash rate… so .I don’t think miner income is our concern.
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If we made a transaction fee mandatory and a fixed amount may this help tackle the double spend issue? As in send one transaction in a shop walk out send another to themselves containing the same coins but with a transaction fee. Default by miners is to accept the one with the highest fee so the shop loses out. But with a fixed tx fee would that still be an issue?
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Not only an interesting, This is our roadmap for future development. We will get rid of bitcoin and exceed bitcoin. This is the meaning of our existence. Feathercoin does not exist as a single copy . Happily, we are one step ahead, time is the key. Time is money.
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No , It is not a decision, only discuss.
But I think the miners will not bear the loss,so We need to make early preparations.
Bushstar haz opinion?
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Bushstar haz opinion?
As far as I know, FTC code will be prepared for POS (as PXC code already is prepared for future POS addition).
However if so it will be POW+POS not POS only, POW+POS is good decision IMO.
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Personally, I don’t think we should make decision base on the price / try to stop the price fall. What we do should be good for the coin not good for the price.
We are not Fed or Goldman Sachs.
As I know FTC is a high inflation coin. (at least in the first 4 years) . It does not surprise me if the price fall to 1 cents (I hope it will not happen but it could)
I thinks some of the coins is already mining with negative income, but i don’t see great drop in hash rate… so .I don’t think miner income is our concern.
We are not Fed or Goldman Sachs. yet !!
But We have to maintain a healthy market.Otherwise, investors will say, “They are dead.” We must ensure that, FTC does not become waste paper.
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I want to see something truly unique and special if we implement part PoS.
Under no circumstances are we to copy and paste another coins PoS.
We need to really think this one through and come up with something that re-writes PoS the same way NeoScrypt has re-written PoW.
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I agree and if it could tackle the issue of unconfirmed transactions at the same time that would be awesome. :)
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What?
PoS has an unconfirmed tx issue?
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no all coins have one as fas as I can see.
Its just the issue of a double spend attack before the transaction has been confirmed in a block.
Which is only really an issue for face to face “near instant” transactions but its a harder sell if like in bitcoin that could be >40 mins. and even we have blocks that are >20 mins.
