Proof of Stake - Securing the chain

[Arcurus 331]

Hello Rik,

just read that you want to use proof of stake to secure the chain. I made also some research into that and would be glad to share my research with you.

 

If you want to have more stable blocktimes there are also other more simple solutions for that:

TargetDifficuly = (TargetBlocktime /  TimeSinceLastBlock) * Difficulty

This could be implemented as soft fork. By default the Difficulty should be 1/2 of the normal difficulty.

For example a block that is created 5 minutes after the last block would need two times the difficulty then a block created after 10 minutes or four times the difficulty of a block created after 20 minutes since last block.

That would greatly help to provide stable blocktimes, even if in competition with other coins that have the same mining algorithm.

 

To bring more security to the coin you could also add a trusted node list like ripple or stellar does it.

If 80% of the nodes in the list agree, the block could not be undone.

The list should be set in a file, so that everybody could use his trusted node list.

On a later stage by default nodes could be added if they hold a certain amount of coins as security.

 

 

 

[Rik8119 242]

On 3.1.2018 at 11:01 PM, Arcurus said:

Hello Rik,

just read that you want to use proof of stake to secure the chain. I made also some research into that and would be glad to share my research with you.

 

If you want to have more stable blocktimes there are also other more simple solutions for that:

TargetDifficuly = (TargetBlocktime /  TimeSinceLastBlock) * Difficulty

This could be implemented as soft fork. By default the Difficulty should be 1/2 of the normal difficulty.

For example a block that is created 5 minutes after the last block would need two times the difficulty then a block created after 10 minutes or four times the difficulty of a block created after 20 minutes since last block.

That would greatly help to provide stable blocktimes, even if in competition with other coins that have the same mining algorithm.

 

To bring more security to the coin you could also add a trusted node list like ripple or stellar does it.

If 80% of the nodes in the list agree, the block could not be undone.

The list should be set in a file, so that everybody could use his trusted node list.

On a later stage by default nodes could be added if they hold a certain amount of coins as security.

 

 

 

Thank you for the ideas, i am on integrating merchant accounts into the bot-network and its not my top priority atm. But I think long-term this will be definitely where Solidar is heading..