The Removal of Checkpointing

We should first make PoS minting even more secure, also for people who hold tens or hundreds of thousands of PPC, to incentivize more people to do it.

With the Raspberry Pi wallet and the bug-fix of the encrypted wallet for minting, first steps have already been taken (thanks to the devs!)

The next step, I think, is some kind of cold-locked minting feature to incentive people to put more coins “at stake” and mint with them. So the accumulated coin-age of all minting accounts should go up and make an attack more expensive.

This feature must meet at least two conditions:

  • the main private key can be hold in offline cold storage, so there is no risk to get the coins hacked,
  • the incentive to run a online client permanently must not be affected (very important!)

There are several proposals now for this issue:

I think one of these concepts will be sure the next step in rising PPC’s security, and that this should be the main concern for development for PPC in 2014. Sunny King has already stated his intentions to include “cold-locked transactions” in one of the next releases.

The next step, then, possibly can be making checkpoints first voluntarily (add a button to the client to switch them on and off, for attacks, like now in Primecoin) and then, perhaps next year, complete removal.

Thanks for the summary, d5000.

Thank you, that is an important post