ALGO CHANGE discussion - We Want Your Opinion!


  • administrators

    Hello everyone, I figured it is a good time to start talking about the algo change...

    This is my opinion and what I would like to see happen, feel free to disagree with me and/or provide your opinion here, we're open to ALL opinions...

    I would like to see BURST algo implemented into QORA, and BURST merge-mined with QORA. I think this would dramatically increase the network size, and community, while at the same time, providing a way to mine at a low-cost fashion, and having the first low-power PoW-style Merge-mined setup.

    BURST algo is VERY power efficient, and allows you to plot your free hard drive space, and mine coin with it. In my suggestion, the SAME exact algo would be implemented into QORA, so that the SAME plot files that are used with BURST, could be used to mine QORA.

    What this would mean, is that BURST miners could simply run a BURST and QORA miner, on the same drive space, and get two different coins. They would submit different deadlines to each chain due to the way that they are calculated, and I think it would end up working out quite well.

    I think I would still like to keep the blocks as quick as possible, so I think 2 minutes, potentially with a suggestion that was made by @cryptonick on BURST chat, that would make the blocks EXACTLY 2 minutes or less, no matter what, even if the miner didn't submit a 2 minute or less deadline.

    That is only an option, but we could also just make it the same as BURST, that is another possibility.

    As far as the coin cap, IMO it should be increased, doubled in fact. I believe this would allow for miners to get something for the merge-mining, making them more likely to WANT to mine. I think it would also give QORA some revitalization, and bring more people to the coin. Yes, I am aware I may get some flack for suggesting this, as the cap was set that way on purpose, and it will change the overall value of the coin per market cap... but I think it would increase the market cap so much with all of the new people coming in, that it would not devalue the coin at all.

    The release of the coins, would be done in a similar fashion to BURST, potentially with a few modifications. I would say the release should be MUCH slower... allowing mining to continue for 40 years or more. This would also mean that the new coins coming into the market would be released at a very slow rate, and would not affect the coin price very much at all.

    My suggestion would be to start with a 500 coin/block reward, and decrease that by 1% a percent each month. Double the cap to 20 billion, and let the mining continue for a very long time.

    That would only bring in 10 million coins a month into the market based on a 2 min block time. I think this would sufficiently limit the release of coins, while at the same time giving miners sufficient reason to mine.

    Anyway, that's my basic idea, let me know what you think! Thanks!



  • Sounds like a perfect plan to me. The new supply won't be too high, yet hopefully enough to keep miners interested though I believe 10 million coins a month and decreasing 1% each month may be too low for the miners.


  • Global Moderator

    @letmeqora Mixed with burst, I don't see why it would be that bad.



  • We need movement on the blockchain. My initial thoughts are merge mining with burst. My only suggestion is to leverage qora's (and burst) strengths. Use (showcase) AT somehow...


  • administrators

    @theduuude said in ALGO CHANGE discussion - We Want Your Opinion!:

    We need movement on the blockchain. My initial thoughts are merge mining with burst. My only suggestion is to leverage qora's (and burst) strengths. Use (showcase) AT somehow...

    Right...

    However, the idea of Merge-Mining has been officially taken off the table, due to massive criticism by the BURST community.

    It seems they think that QORA has nothing to offer, which is sad, because it will be shown that it has quite a lot to offer, and I think they'll eventually be upset that they chose not to go this route.

    Oh well, I'll provide more ideas on what direction we can talk about next soon.

    Thanks



  • Is this coin gonna be poc even with out the merge mining..

    Also might be wrong place to ask but if anything being done with polo to fix/update the wallet


  • administrators

    Yea, the direction that I'm thinking now, is to do another PoC algo. I'm in discussions with a few devs regarding this, there is already an algo that is written that I have suggested we make use of. Waiting to get their opinion before going much further.



  • Since it is stated on the website that qora is a POS coin, (although running a node isn't very profitable right now,) does this mean that qora will be a POC (Proof Of Capacity) coin?

    I think that POS or better yet some kind of hybrid POW/POC/POS network of value is the future. Isn't there a way to achieve this?



  • if i will invest in qora now is there any mining system currently working now ?



  • how bout giving a new purpose for QORA then only decide on the mining method or set up masternode or maybe platform (eth / etc / kmd/ BOScoin / Tezos) or maybe turn qora into a platform that other coin can build on.


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