RE: Oracle Consensus & Burn Tokenomics

avatar

You are viewing a single comment's thread:

You may or may not be aware of this, but the first Proof of Burn idea came around in 2012, and the first implementation was done on a colored coin clone called Slimcoin. I played a bit with it in 2017-2018, but ended up looking in other places (Hive being one of them). The theory behind Proof of Brain is still interesting, though. Here's a starting point: https://github.com/slimcoin-project/Slimcoin/wiki

Posted Using LeoFinance Beta



0
0
0.000
2 comments
avatar

Interesting project but this system is completely different (other than sending tokens to @null).
I'm not trying to come to consensus.
Hive has already come to consensus and is generating the blocks required for Magitek.

It is good to know that others have tried burning tokens to create value.
I may have to look at what they've done to see if they implemented any interesting ideas.
But for now I have so much work to do already that it's hard to think about upgrades.

0
0
0.000
avatar

I got you. But yeah, if you have time, it would be interesting. Basically, they generate future tokens based on the ones that you burn. Burning becomes almost like mining, the more you burn, the more you generate in the future, which creates some very interesting tokenomics challenges, like how current supply is shrinking, but it is guaranteed to expand in the future. It's getting to the "mindfuck" level pretty fast.

0
0
0.000