[VIDEO] The Daily Decrypt - Can a Cryptocurrency Run Without a Blockchain?!

[Tim87]

@neo

Well the idea was for SAFEcoin division. When amount >= 1.0000…000 then a coin is unfrozen and the amount reduced by one. If a subtraction gave < 0, then one of the safe coins in the transaction is frozen and 1 added.

And use a 64 bit signed integer (so simple add/subtract can be done) which allows a representation of an 18 digit fixed point number. 64 bit to future proof it and could use 128 bit if want it forever proof.

thus 0.2 SAFE coin would be 200000000000000000 (2 & 17 zeros)+ve numbers only are stored in the SD

And to prevent some attacks like ballooning each account usually has one “coindust” SD and always used in transactions where fractions of a coin are involved. It is handled by the same core code as for coins.

Additionally to help prevent those attacks we need to limit the precision to a level that the system can handle additional SD’s created etc. So initially we could see 2 places and they can be SAFEcents.

This sounds very different from the original whitepaper (referenced from this short thread), where it’s talking about strictly binary subdivisions (i.e. no decimal places, just consecutive halvings.) However, the whitepaper isn’t talking about coindust either, so maybe things have changed since.

As for my idea from above, each coin (whole or subdivided) is a uniquely numbered, fixed sized unit, so there’s no way to express something like “a coin that is worth 17 x 1/4th of a safecoin.” Which is a pity, but is also a reasonable limitation based on the (pretty clever) addressing scheme that’s being used.