Draft - Freirepublic

[Arcurus 331]

Freirepublic could be really what makes Freicoin different to other coins.

 

I would do it for example like this:

Implement Freirepublic in a second layer like for example dash does it.

 

Second layer could look like this:

A part of the block reward + fees lets say 80% is distributed according to the votes. (can be phased in starting by 20%)

To vote the demurraged coins are used.

You can vote pro and con for a project.

Each month the X top voted projects receive coins relative to the amount of votes (pro-con) they received.

 

Enforcement could look like this:

Demurraged coins can be used to vote pro or con a sentry (masternode).

Top X (pro-con) voted sentries (masternodes). each month are added for at least one year.

Each sentry (masternode). has votes according to pro votes - negative votes.

Max number of votes per sentry (masternode) can be limited.

Sentry (masternode) get Y% of the mining reward (can be phased in starting by 20%)

Consensus is reached over a valid block either like in dash or like in stellar.

 

If layer two fails, fallback is layer one like in dash.

 

 

UPDATE:

one thing i would add: Votes count 100% after one week time period 1/7 after one day. After one year votes are not valid anymore (phased out in one month).

 

UPDATE:

I was thinking about the enforcement. In away we could start without having something like frei / masternodes at start. At worst it behaves like all goes to the miners if miners block votes therefore at worst we are there where we are now. In case of vote blocking through miners. A single tool which tracks vote censoring should be enough to reject blocks from miners that dont include known voting transactions. This could be added as softfork later if needed. 

[Mark Friedenbach 92]

Arcurus, if you want to advance the idea of freirepublic / republicoin into production, I would suggest finding a way to fund research into self-organized byzantine fault tolerant consensus algorithms with rigorous formal proofs. This is the missing building block that would be required in order to have UASF-mandated use for subsidy towards specific causes in freicoin.

To be clear, this is not me asking for money. I'm actually not a BFT researcher and am overworked as it is. Rather it is a necessary technology that must exist for this idea to be safely deployed, and something which (despite a lot of similar-sounding noise) isn't really being researched right now by credible academics. I would very much like for there to be research into it, as using the freicoin subsidy for other purposes fixes a lot of long-term incentive problems.

[Arcurus 331]

Hi Mark, thank you for your answer! Just for my understanding. 

what is the difference between self-organized byzantine fault tolerant consensus algorithms and for example stellars federated Byzantine agreement (FBA)?

 

Another question is, is there a need to have a perfect system from the beginning, or could we start with something good enough to work, and later evolve it further if we have more resources?

For me it looks like dashs, stellars and ripples consensus system is good enough working to distribute and transfer tons of money proofing with each day since years now.

 

[Mark Friedenbach 92]

Stellar would be an example of such a protocol. However see this paper from IBM's research division about the failings of such proposals:

https://arxiv.org/abs/1707.01873