POB : Proof of Burn

Have you heard of the energy efficient “Proof of Burn” concept?

Sounds really interesting:


This new coin is said to be build upon Peercoin:


I think XCP is POB coin built on bitcoin. But not on peercoin. It’s interesting though, I will keep on eye on this.

We also have POSV now. Proof of stake velocity. Reddcoin is hard forking from PoW into PoSV.
Key innovation is their proposal to play with coinage. Instead of gradual aging they suggest coinaging in a curve to encourage people to mint more often. Reddcoins also set their reward at 5%, which results in 5% inflation. Their focus is more a social/tipping coin, like Dogecoin.

Here is a link: http://www.reddit.com/r/reddCoin/comments/249dnl/major_announcement_reddcoin_to_implement_new/

To me it is a sign that the days of PoW are being numbered. Next is probably Dogecoin, but that is just my guess.

I also think that people get aware of the drawbacks of PoW that can be mitigated by PoS.
Haven’t we needed some time to realize that as well? :wink:
And I’m glad that developers even strive for advancing PoS.
This is a good sign for future development.

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I hope it doesn’t burn Peercoin.