Author Topic: NeuCoin PoS Whitepaper - Worth Reading  (Read 975 times)

rjr on: March 26, 2015, 03:49:25 PM

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There's a new PoS coin called NeuCoin that is attempting to address flaws in the PoS system.  They've released their whitepaper which is very interesting and definitely worth a read.

http://www.neucoin.org/en/whitepaper/

There's something weird that happens in my browser when I try to download their PDF, I have to save it to disk and re-open it to get it to display right.

Espo #1 on: March 26, 2015, 04:09:05 PM

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whats the main adavantage?

rjr #2 on: March 26, 2015, 04:42:31 PM

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Well, I'd have to say there is no "advantage", it is just a worthwhile attempt to modify PoS parameters to get a working coin and so of interest to FIMK, which is trying to do the same thing.

Roughly speaking, the original Proof of Stake (PoS) coin was Peercoin, which had a centralized authority that continually monitored the blockchain (at "checkpoints") to provide security.  NeuCoin modifies Peercoin to have MUCH higher forging fees (that slack off with time) to provide a forging reward motivation similar to FIMK's fixed reward per block generated, a much shorter time for a stake to be applied to a node before forging is allowed, drops Peercoin's "node uptime" weighting factor, drops block time to 1 minute, and adds a floating instead of fixed "stake modifier" (amount of time a node is disqualified after forging before being eligible to forge again).

Since these are Peercoin enhancements,  they are probably not really applicable to NXT or FIMK (which are themselves attempts to be more "decentralized" than Peercoin).  But since there is still obviously a need for operational improvement in NXT / FIMK, it's worth reading the NeuCoin PDF overview to get your bearings on what the strengths and weaknesses of PoS are.