What are your favorite features of Crypto Coins?


#1

This is a different type of question. I don’t really want to know your favorite coins, I want to know what are your favorite features. So that if you were to take X feature from one coin add it to Y feature from another coin and mash it into Z feature from another coin it would make your “perfect coin”.

  • I like the “transactional” messages from Florincoin
  • The “invoicing system” built into Cinnicoin
  • The “encrypted messaging” display from Shadowcoin
  • The “web interface” from Neos coin
  • The “redemption field” from Bellacoin for giving away coins
  • “Voting and Poll” system in Bunnycoin

#2

My favorite feature is a quick block time. There are few things more frustrating than identifying a new investment opportunity, and having to wait hours to take advantage of it. Digital currency should move at digital speeds.

I like the planned Prime controller concept from Paycoin, instant transactions would be a very cool feature. I think I could even live with a longer block time (and therefore smaller block-chain) if transactions could be instantly trusted.

I like the way Bitcoin’s Electrum wallet allows for wallet functionality without having to keep a full copy of the block-chain. I don’t know whether a coin could implement this on the network directly, but it seems possible.


#3

My favorite coin features (I know about) are:

  • Neos - local browser wallet
  • Blackcoin - PoS2
  • Black- / BitHalo - smart contracts and co
  • Peercoin - The hybrid pow/pos approach
  • LTC/Dodge - Merged mining

What I would like to see

Developers moving away from the old “basic” bitcoin qt wallet. It’s a wallet for nerds and outdated. What it is definitely not is a wallet for the mainstream since it lags the most basic features such as auto-updating. I mean honestly, how many “average guys” will bother with wallet.dat backup, reindexing and the console commands? A wallet interface like Neos has or even the Halo wallet is a first step into the right direction but updates and go still need to be simplified imho.

I also would like to see a coin / wallet that adds support for integrating social media or RSS. In today’s world it’s all about staying in touch with your community or customers and I don’t know why nobody has bothered yet to add twitter, irc or RSS to their wallet (even facebook if it has to be).

I guess something like this is a good start


#4

I used to mine a coin called Coino I think its has fallen away now, the transaction times were extremely fast.


#5

My favorite feature is a X11 algorithm so my GPUs have something to do.


#6

In theory, MaidsafeCoin and StorjCoin. I say, in theory since neither of them have publicly deployed applications yet.
Maidsafe is reconstructing a new blockchain-based application infrastructure. i.e. "Internet on the blockchain."
Storj is focused on encrypted, distributed storage. i.e. “Decentralized Dropbox.”

Both plan to reward “farmers” who provide services with coin distribution.

So I guess I focus not so much on features of the coin itself, but applications of the coin. In that vein, FoldingCoin has also caught my attention as a way to mine while providing a valuable service.


#7

Interesting… :slight_smile:


#8

I can’t see why StorjCoin is seemingly the much more popular choice (among miners and traders) over FileCoin? Thoughts?


#9

I can’t see that FileCoin actually made any development progress beyond an announcement. Is there a code repository or download somewhere? Their one and only blog post announced the project (July 2014), no tweets since Oct of last year, and those were just retweets of other news. As far as I can tell, Maidsafe and Storj already have alpha products for small test groups.


#10

Hmm. I need to read up on the latest - it’s been a while since I did the rounds on these. My understanding was that Storj didn’t have any technology but were planning on being an abstract blockchain layer built on top of other people’s offerings (e.g. MaidSafe technology) whereas FileCoin was a more technology based (ipfs protocol) offering. Things may well have changed in the last few months though!


#11

Seems like an appropriate thread to ask in, since I don’t want to start another thread just to ask a question :slight_smile:

We’ve all heard about the possibility of sidechains being implemented in bitcoin, and alongside coloured coins is probably one of the most interesting possible futures for bitcoin, but has there been a successful implementation of the concept in any of the hundreds of alt coins available?


#12

Its not that difficult to do as long as the coin has the ability to hold extra data in the transaction. Either OP_RETURN or Transactional Messages.


#13

I remember reading something about needing support for 2-way pegging symmetric/asymmetric something or other and my eyes glazed over… My understanding is that there needs to be some additional coding in the Bitcoin blockchain for it to be completely secure. Maybe. Or something.


#14

I thought, as @paulc010 mentions in the post below yours that there were certain technical challenges to overcome? If it was “easy”, so to speak, it’d have already been implemented at least on an alt, wouldn’t it? If only because people want to test it and mess with the idea.

Clearly it’d be a massive technical challenge to provide that kind of an update to bitcoin now because of the changes having to be applied by so many different people, but I’d expect to see it being tried and tested on an alt, since that’s pretty much all most o them are good for, sort of proof of concept models…

That said, several bitcoin core devs have just secured years of funding courtesy of MIT, so maybe with time to be able to dedicate to the task instead of worrying about the future there’s a chance we might start seeing more happen with bitcoin itself in the next couple of years.


#15

many “alts” don’t even include OP_RETURN or debate the inclusion of that aspect of transaction. And yes it requires a separate “build” of the coin to handle. There are tons of different protocols that already handle this type of functionality but the problem is that none of them actually talk to each other. Its not so much that its “technically difficult” its more that nobody seems to want to agree on how to accomplish the task… hence the many different implementations.


#16

And this is why I love coming here. There’s tons of clever buggers that know loads of stuff :slight_smile:


#17

Electrum is really just a hack with some DB backends posted around the world. If they use a descent indexing scheme on the blockchain storage any node would be able to serve that data. I still wonder why NOBODY has done this before. Nodes are supposed to handle the brunt of the blockchain stuff. I think it would be easy to implement a third open port on nodes and let them act as a blockchain explorer. Where light wallets could interrogate the blockchain and ask for all tx for one address. My DB knowledge says it’s only a matter of the proper indexes on the blockchain DB and some small logic to serve them up.

That said it could be implemented on bitcoin core wallet now without a hard fork because it really does not touch the logic of the blockchain handling itself. It would only touch the storage of the blockchain.


#18

I thought it was because there was no facility to “lock” the coins or to agree locking. As I understood it ideally you want to be able to lock BTC when they pass to the side chain, and then unlock them again when returning from the other direction and vice-versa. This would allow value being passed from one chain to another but this may just have been a special case I was reading about. Need to try and find the source!


#19

Yeah the lock and unlock functionality is crucial in that way. And it is not implemented. It means a hard fork is needed.