How will uCoin go from Meta_Brouzouf to uCoin?

Archives Discussion
1

When will be decided that uCoin is good enough for launch? Is there going to even be an official coin that will be called uCoin?

And how would uCoin be worth anything if an anyone can start their own coin?

And how would I start my own uCoin? Can I start one right now?

2

Hello folatt!

We need several things to work to be confident in the fact uCoin will scale up:

  • have several nodes working together, at least 15, 20 or above to validate the network features
  • implement few new protocol rules like:
    • new PoW mechanism allowing for an average new block computing time between [target / √2 ; target * √2] instead of [target / 4 ; target * 4]. This means for a target of 10 minute for computing a block, real computing will be between [7 ; 14] minutes instead of [2.5 ; 40] minutes currently
    • add a delay between each certification of an individual.
  • add way more automated tests, notably by adding a testing framework to allow anyone to easily create scenarios and test wether the result matches what is expected.
  • allow multibranching to avoid split attack (a attack that forces nodes of the network to fork, making the network unable to agree on a same history without manual intervention)

That’s both nothing and a lot of work, since if I was 100% of my time on uCoin, it would be done in few weeks. But as I have very few efficient time available (thanks to debt-money system), this takes an eternity to achieve.

I don’t plan to do so, and I don’t know if anyone either. To me it would be a bad idea since it only spreads confusion, like Bitcoin did by calling both its currency, project, protocol and software the same name. I don’t know what purpose it serves, but definitely not transparency and clarity.

Do you think a currency used by 3 individuals will worth the same as a currency used by a hundred individuals ?

Yes you can. Find someone to start the currency with, download the software, configure it to accept people with a minimum of 1 certification, define the initial UD amount, its %growth and frequency, sign each other, and there you go.

3

Wow! That sounds awesome!
I still have questions though. Would it be necessary and is it possible to transition one’s own cryptocurrency to another like MaidSafe is trying to achieve with the transition from MaidSafeCoin to SafeCoin?
Or would my whole community get stuck with an inferior coin once I start one?
I am making the assumption here that everyone has to use the same proof protocols and blockchain technology.

4

I guess this would need cross-chain coins transfer. Not possible at the moment with ucoin, but definitely a feature we need.