One of the many things I have been looking forward to in the world of Crypto and digital currency, is the day when the BlackCoin developers reveal their whitepaper on Proof-of-Stake 2.0. Today is that day, so let’s take a closer look at what this will all entail.
As the whitepaper is quite detailed on all changes, and is a definite must=-read for any Crypto enthusiast, I will just stick to the bullet points for now. A link to the Proof-of-Stake 2.0 whitepaper can be found below this article.
– Coin Age will no longer be a factor to generate Proof-of-Stake interest. There is a need for more nodes online and staking. More staking nodes will also speed up the BlackCoin network and transaction time. Do keep in mind the staking rewards are not affected by this change.
– The stake modifier will be changed at every modifier interval
– Further blockchain timestamp changes will be made to avoid Proof-of-Stake blocks from orphaning.
– BlackCoin will no longer be using the Scrypt algorithm for its Proof-of-Stake phase, and will revert back to SHA-256D. Using Scrypt offers no real advantages , and is in fact slower compared to some of the other alternatives.
All of these changes will be made with one thing in mind : improving the security of BlackCoin’s Proof-of-Stake protocol. As the current Proof-of-Stake system is far from flawless, the current problems have yet to be solved. It simply isn’t worth running the risk of keeping things the way they are.
You can find the full BlackCoin PoS 2.0 whitepaper here :
Official announcement : http://blackcoin.co/news/blackcoins-proof-of-stake-protocol-v2-whitepaper-released
BlackCoin donations : BRWkb1mS7aZ4HrkjVfBdTBq7MtjNtbHyK3