After reading the docs

Archives Discussion
#1

Hi,

Just two questions to help me understand :

  • There is no particular coin issue message, right ? The amount of dividend received by a member is fully determined by when he enters the community and for how long time, right ?

  • Why transactions are not part of the chain ? I think I’ve read this is due to scaling issues (like in Bitcoin) ? So how is the double spend problem resolved ?

#2

There is one: Universal Dividend. It is determined during the writing of a new Block, and is written in it (UniversalDividend field). Only some blocks may contain this field. Furthermore, amount is deterministicly computed, so a block with wrong amount will be refused.

NB.: I notice I havn’t written this part in the protocol yet!

When a UD is issued, every member may send a new transaction with an amount equaling this UD: here are brand new coins :wink:

With this message, you should have understood that “new coins” becomes real through a 2 steps process:

  1. New block is emitted with UniversalDividendin it
  2. Transactions are emitted pointing to this UD

The amount is the same for all members at t time, it does not depend on when he “enters” (because a member may join, leave, and the join again). Amount is computed using this formula:

UD(t+1) = MAX(UD(t) ; c * M(t) / N(t+1) )

Transactions will be in the blockchain. As said in my previous post, website has to be updated to match the protocol. Prefer reading it rather than website to get the best informations. :slight_smile: