Protocol Introduction/Discussion

TECHNOLOGY
#1

Hello @ivan, @filip, Team of The Academy and rest of community.
I have an idea for a new open source (if it can be POS or DPOS ) protocol and a Dapp based on time.
In order to figure out if my idea is valid I have few (silly) questions about validators.

  1. Can someone using his PC be a validator without having any amount of the coin staked but the algorithm picks him/her anyway to validate or in order to validate it is mandatory for him/her to have a specyfic (or not) amount of coin staked? Can we create an algorithm that picks anyone who wants to contribute with minimum computing power (Pc- no mining rigs etc) to validate transactions when needed?

  2. Can these validators, if (1) can work, use computing power in order to mint new coins when needed (as a reward etc)?
    Few words about me…
    I am Nick and I am not a developer, but I am educating myself on coding and understanding the blockchain space since 2017. Have my own business in since 2013 and I have been working since I was 15 years old at our family restaurant. From the very start of my business (an innovative coffehouse combining the music industry) I have been building a Project that will solve many problems in many professions but I was trying to built in on top of third-party payment companies like Paypal until 2017 when I was informed about the blockchain solution. Part of the Project was two all-day festivals, interviews, articles, reviews etc.

Finally I have to note that I am not here for the quick money, the fame and the fuzz but only for building a decentralized system that will solve problems, contribute to the crypto-space and last through the years.
Thank you all for your time and your help. Looking forward to have news from you.

P.S Sorry for the long intro…

Best Regards
Nick

#2

Game-theory is vital for validators. If they don’t have a strong incentive to act honestly and be “punished” for acting maliciously, then human nature will cause validators to act maliciously for their own benefit.

Without having anything to lose, this model won’t work. You’d have to think of a way to stop validators from acting maliciously.

2 Likes
#3

This is quite helpful thanks.

#4

Hello @ivan @filip. Is there any course that goes through the differences between the various blockchains (layer 2s included) and their implications? I am very curious about this subject. If no course on this already exists, then I would like to suggest it for one of the upcoming new courses. If there is no course on this, do you guys have any good material on this subject?

Thanks!