I know that Peercoin seeks to create a store of value, and that this is a major reason for the 30 day wait time for minting. It really make people holding Peercoin consider twice before they make any transactions. But would another coin that wants to use PoS to reduce energy consumption but also that seeks to be a more actively used coin benefit from having a much lower wait time? For instance, maybe a 1 day wait? In such a scenario, would having a max coin age that is much lower (maybe 2 days?) be detrimental in any way? What are the major ramifications of the maximum coin age, other than that it promotes bringing your wallet online at least once every 90 days? It seems that a coin wanting to promote day-to-day use might find such a setup more beneficial, as people don’t have to worry about waiting a while before they can start minting again.
too long time to wait! too many people can’t wait 30 days
[quote=“comfan, post:2, topic:2561”]too long time to wait! too many people can’t wait 30 days[/quote]It’s an engineering solution, not marketing.
if i am not mistaken it is a security feature
Can you explain this more? What extra security is brought on by waiting 30 days? What advantage does this have over, say, Blackcoin’s 8 hour wait?
Can you explain this more? What extra security is brought on by waiting 30 days? What advantage does this have over, say, Blackcoin’s 8 hour wait?[/quote]
The waiting time is there to increase the small stake holders’ chance. People with big stakes are capable of finding a block within a day after finding a block if there is no waiting time. They will prop the diff so high that small stake holders will have very little chance to get blocks. This increase centralization of minting.
That said I do feel that waiting for 10 days is perhaps enough. Some analysis should be done to find out the optimum time, or a better scheme.