3 ms·
I love what sia is doing, however I was never clear why sia wouldn't have made siacoins inflate proportional to MB*seconds available? It seems like producing s
by XR0CSWV3h3kZWg 9y ago
I love what sia is doing, however I was never clear why sia wouldn't have made siacoins inflate proportional to MB*seconds available?
It seems like producing some public dataset (the blockchain so far for instance) and some proof of work that is reasonable to do once and store, but unreasonable to produce for each proof of storage, make the proof of work tied to a private key and then give each user the ability to mint new coins at some discount rate for storing the blockchain.
There are a couple constants there (the cost of the proof of work, the discount rate for storing the public info as opposed to a file contract) that need to be set correctly, but for some values the cost of the token should be pushed down to the cost of storing a certain amount of data for a given time.
This would give a coin that is pegged to roughly what you want the contracts denominated in and would encourage network utilization.
Are the constants too hard to choose (you'd probably need to modify the proof of work and discount rate)?
What are y'alls thoughts?
EDIT: sorry this is not the best description, I can try and find some of my older better write ups of the idea if it's not clear what I am trying to say.