lets make it an altcoin #11

zack-bitcoin opened this Issue Apr 3, 2014 · 0 comments


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money creation scheme: slasher http://blog.ethereum.org/2014/01/15/slasher-a-punitive-proof-of-stake-algorithm/
I have written other currencies like this: https://github.com/zack-bitcoin/CryptGo
money distribution scheme: proof-of-burn, maybe integrate a service like kickstarter?
Mixing scheme: any suggestions? I am not sure which way is best.

===two types of employees===

  1. miners who find blocks.
    *keeping and revealing a secret for 100 blocks. This secret is used to select the jury for the block 1000 blocks in the future.

2)jury members, who sign blocks
*In the event of a fork, the chain with more jury signatures is legit.
*They sign a block 2000 blocks after they are selected.

===Transaction types in blockchain===
*include a list of pubkeys you are giving the money to, and the number of pubkeys who have to agree, in order to spend the money. (the "n" and "m" of a NxM bitcoin address)
*only 1 mint transaction per block
*this gives the miner a reward.
3) create named account
*Now people can spend to "ganjaQueen" instead of to nonsense pubkeys like: "1847f892h4f8928294f"
*Give a menu of what you are selling.
*Explain the process to purchase from you.
*You can update your info by making a new transaction of this type.
4) buy reputation for a named account
*proof of burn
5)jury signature
*jury members sign the chain which they think is the valid chain.
*jury members have an incentive to only sign 1 chain.
*this gives the jury member a reward.
*There are about 20 constants built into the currency, the transaction fees for example. The jury members vote to slightly adjust these constants upward or downward.
6)catch a cheating jury member
*if a jury member signs 2 forks, then anyone else can take those 2 signatures and make this type of transaction.
*the jury member loses their reward
*the person who created this transaction receives a reward
7)send a message to another user.
*impossible to tell who the message is intended for

===databases=== 6
potential transactions suggested to us by peers
potential blocks suggested to us by peers
valid transactions to include in next block
current ledger
backups of the ledger, in case we get on a fork and need to rebuild from an earlier ledger.

===handshakes between miners to maintain consensus=== 5
*hash of most recent block
*number of jury signatures in chain
request blocks in range
request transactions to be included in next block


  1. trying to mine next block
  2. listen for peers
  3. gui
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