Here's a half baked idea I've been mulling over for the past few weeks...
One of the unique properties of cryptoassets (for better or worse) is that people die and their coins/shares/tokens essentially disappear forever. Their loss becomes everyone elses gain in the form of deflation. But what if those little "units of power" could be harnessed in more strategic
ways by the system itself?
Lets say after XYZ number of blocks (i.e. ~3 years worth of blocks), private keys which have not demonstrated control over their tokens are seized by the system and kept as a "rainy day fund" (or for any other reason deemed worth by the electorate).
- This also has the side benefit of incentivising both voting and spending since both demonstrate control over your private key.
- TITAN allows for one account with pretty decent anonymity; as a result most tokens will be under the control of one
master private key and not spread out over numerous addresses to maintain anonymity. This feature makes the idea I'm proposing much more practical.
- This would allow network fees to be directed as interest (as proposed by Bytemaster) while still maintaining an emergency reserve.
- Clients can automatically issue warnings to users who haven't proven control over private keys in XYZ number of blocks. This would prevent the vast majority of people from forgetting about tokens and losing them as a result.
Possible issues I foresee are :
- People forgetting about their assets / not aware of the dead coin rule.
- Some technical reason TITAN cannot allow for this.