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General Discussion / Re: Forking Features
« on: October 12, 2014, 11:51:25 pm »Some features I can think of off the top of my head which I am not sure if they are already in the code yet or will require a future fork:
- Changing votes with BTSX held as collateral in short position.
- Attaching arbitrary(?) length messages in a transaction to another account beyond the small memo field (both encrypted and plain-text versions). Is this still planned?
- Public balances for accounts (although this may already be possible on the blockchain without a fork).
And then there is of course the nearly endless items on my personal wishlist that will either not happen or it will be a long time before they do happen:
- Restructure block headers to implement lightweight client verification.
- Delegate proposals with shareholder ratification where the ratified proposals modify the rules of the DAC. This includes all the wonderful features that come along with it such as: inflation caps, BitAsset yield rate caps, workers, hard-fork proposals, etc.
- Cover short position through a BitAsset market buy order using collateral in short position as payment.
- A fair and monotonic BitAsset yield distribution (linear interest is fine if continuous compounding complicates the implementation too much).
- Automatic conversion of network fees using internal exchanges to get DAC revenue in the form of the BitAsset/BTSX desired for either payment to delegates/workers or payment to BitAsset yields.
- Time-based multisig where spending a transaction requires a 2-of-3 multsig between t0 <= t < t0 + 6 months, and a 1-of-1 sig can be used in addition to the 2-of-3 multisig after t >= t0 + 6 months. This allows for beneficiaries to claim the funds of a deceased benefactor after 6 months of inactivity.
- Allow delegates to take a vacation / retire from their delegate role and take back a percentage of their submitted delegate registration fee (called the surety bond portion), and if they want to go back to being a valid delegate candidate, they need to repost that surety bond. Then, the DAC should allow anyone to submit proof of a double-sign of a block by an active delegate to the blockchain which will automatically ban that delegate and claim the surety bond as revenue for the DAC. This increases the opportunity cost of misbehaving for any active delegate who is tired of being a delegate and wants to quit anyway.
- Separation of private keys to update BTSX votes and transfer BTSX stake. This allows for keeping the vote updating keys on the hot client while keeping the keys controlling the movement of the funds safely in cold storage.
- Implementation of BTSX yield (similar to BitAsset yield) instead of the current buyback mechanism for providing shareholder dividends in order to financially incentivize updates of votes by, for example, withholding yields on BTSX balances that have not moved for over a year. Potentially a 5% inactivity fee on balances that haven't been updated for a year could work as substitute.
- An inactivity fee on BitAssets and BTSX (regardless of the above point) to reclaim value lost due to missing private keys. Lost BitAsset value cannot be claimed by letting the market factor it in (it could only act as a black swan fund). While lost BTSX could be factored in by the market in the price of BTSX, it is better to be 100% sure it is lost by just claiming old inactive funds. I suggest not touching balances with less than 5 years of inactivity, and then claiming 100% of the funds by year 6 starting with 0% claimed at the beginning of year 5 and interpolating linearly with time.
- Many more...
Quite the list you have there...
I could add a dozen more hard-fork features...
1) Using BitAssets as collateral for shorts
2) Allowing reverse shorting (BTSX... etc)
3) Allow publishing of price feeds in USD per GLD to reduce update frequency compared to BTSX vs GLD...
4) Ring Signatures like Crypto-Note...
All of that said I think BTSX will gain more from feature stability with perhaps annual updates after massive test nets than it will from rapid addition of features.
+100% (exception being features that provide SIGNIFICANT increase in BitAsset usability/marketability).