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Offline flower1024

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Merged Mining ProtoShares and BitShares
« on: November 05, 2013, 11:13:45 PM »

I think that way it would be easier for BitShares to gain a better hashrate and ProtoShares can fade out slowly (or not..who knows ;) )

What do you think?

Offline bytemaster

Re: Merged Mining ProtoShares and BitShares
« Reply #1 on: November 05, 2013, 11:33:34 PM »
I think that way it would be easier for BitShares to gain a better hashrate and ProtoShares can fade out slowly (or not..who knows ;) )

What do you think?

BitShares will support merged mining, but not with ProtoShares only among peer chains.
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Online Stan

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Re: Merged Mining ProtoShares and BitShares
« Reply #2 on: November 06, 2013, 02:53:57 AM »
My expectation is that ProtoShares will not fade out with the launch of BitShares.  Every derivative DAC that enters development with a commitment to fork its ProtoShares off the current root (or one of its future branches) will grow the value proposition of that root or branch.   People can choose to invest in the root and/or whatever branches make sense to them.  Nothing says that non-Invictus developer's can't choose to honor the ProtoShares social contract and fork their own DACs.  This would be good for accelerating their launch dynamics and very good for all owners of ProtoShares, no?
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Offline Amazon

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Re: Merged Mining ProtoShares and BitShares
« Reply #3 on: November 13, 2013, 03:48:51 PM »
After 1 million blocks of the ProtoShares, the block rewards will be very low. How to guarantee there is enough miners (decentralized hash power) to secure the system and fulfill the transactions without merge mining? If not BitShares, which DAC can be in same level as ProtoShares?
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Offline bytemaster

Re: Merged Mining ProtoShares and BitShares
« Reply #4 on: November 13, 2013, 03:52:42 PM »
After 1 million blocks of the ProtoShares, the block rewards will be very low. How to guarantee there is enough miners (decentralized hash power) to secure the system and fulfill the transactions without merge mining? If not BitShares, which DAC can be in same level as ProtoShares?

We may migrate to ProtoShares2 that will be based upon the BitShares code base at which point it would support merged mining and ProtoShares1 will no longer be honored. 

For the latest updates checkout my blog: http://bytemaster.bitshares.org
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Offline Amazon

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Re: Merged Mining ProtoShares and BitShares
« Reply #5 on: November 13, 2013, 04:09:16 PM »
After 1 million blocks of the ProtoShares, the block rewards will be very low. How to guarantee there is enough miners (decentralized hash power) to secure the system and fulfill the transactions without merge mining? If not BitShares, which DAC can be in same level as ProtoShares?

We may migrate to ProtoShares2 that will be based upon the BitShares code base at which point it would support merged mining and ProtoShares1 will no longer be honored.

Quote
5) We reserve the right to release ProtoShares v2 that honors 100% of ProtoShares v1 with 100% of the money supply allocated.

Then why not just let PTS v1 merged to BitShares blockchain even if they are in different level of the tree. I am not sure about PTS v2, I think it may confuse people that their PTS is diluted.

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Offline barwizi

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Re: Merged Mining ProtoShares and BitShares
« Reply #6 on: November 13, 2013, 05:03:30 PM »
merged mining is an interesting idea.
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Offline bytemaster

Re: Merged Mining ProtoShares and BitShares
« Reply #7 on: November 13, 2013, 05:12:50 PM »
After 1 million blocks of the ProtoShares, the block rewards will be very low. How to guarantee there is enough miners (decentralized hash power) to secure the system and fulfill the transactions without merge mining? If not BitShares, which DAC can be in same level as ProtoShares?

We may migrate to ProtoShares2 that will be based upon the BitShares code base at which point it would support merged mining and ProtoShares1 will no longer be honored.

Quote
5) We reserve the right to release ProtoShares v2 that honors 100% of ProtoShares v1 with 100% of the money supply allocated.

Then why not just let PTS v1 merged to BitShares blockchain even if they are in different level of the tree. I am not sure about PTS v2, I think it may confuse people that their PTS is diluted.

There PTS will not be diluted, the code will just be upgraded in a planned hard-fork. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

 

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