7

https://bitcointalk.org/index.php?topic=220530.0

The ANN is not super clear. From what I understand, the supposed key features are:

  1. Immunity to 51% attack
  2. "protection against hoarding" ??? (someone please explain this)
  3. A built-in messaging system

Can someone explain/elaborate?

So whats different

eMunie has similarities to current crypto-currencies by way of a public ledger, blocks and transactions. These however, are where the similarities end and innovation for a better system comes into action.

The network is composed of clients, seeders and hatchers, the functions of which will be explained in this announcement. Any node can take task in one, or any combination of these roles dependent on the users wishes.

The network is resiliant to any type of "51%" attack, as the models required to perform such an attack are not present.

Currency generation within the network is a collaborative effort, and created currency is distributed according to a set of requirements. This distribution should help to ward against hoarding, which can further lead to volatility of the currency.

The network performs extensive verification of itself, more so than the BitCoin algorithms, to ensure that all participants are honest nodes and for additional security overall.

A secure, anonymous peer 2 peer messaging system is built into the network, allowing secure, untraceable communications between 2 or more parties.

Kozuch
  • 1,022
  • 3
  • 11
  • 27
ripper234
  • 26,550
  • 30
  • 111
  • 246

2 Answers2

2

What are the key features of eMunie, a crypto-currency that's not a Bitcoin fork?

First off, if the eMunie guys can't provide a compelling answer, then stay away from it.

Second, they are making a lot of bold claims without backing them up. For example:

  • immune to 51% problems but transactions are verified by only two hatchers, so it's unclear that is any better..

  • With eMunie, both hatchers would get a near equal share of that reward - So? Bitcoin already has worker pools which implement the same concept.

  • The main problem there is that you get a handful of miners with massive hash power - Citation needed. The majority of Bitcoin is mined in pools that payout most of their profits to their workers. This does not concentrate the wealth.

BraveNewCurrency
  • 161
  • 5
0

Regarding Hoarding, from the eMunie forum:

Hoarding will always happen, it's natural for people to keep hold of anything that is of value, but, we have tried to implement measures so that this shouldn't be as extreme as with BitCoin.

The main enforcer of this is of course the distribution method of EMU's, which is a radical step in a different direction than BitCoin and all the other Alt's.

The main problem there is that you get a handful of miners with massive hash power, or a large pool with some miners with large hash power, and they acquire a majority of the BTC created. They hold on to them and supply drops, so the price on the exchanges goes up, to a point where the miners decide now is a good time to cash in, dump those hoarded coins into the market, and the value plummets. Miners are in control of the currency flow within that system, and as always in many systems, you get a few that hold the majority.

With eMunie, the idea is that while 80% of that goes to the hatchers, it is work based, not "first found" based and this alone spreads the allocation around better. For example, a possible and likely common scenario in BTC is of course that one miner finds that block just before you, despite you doing almost the same amount of work, yet they get 100% of the reward. With eMunie, both hatchers would get a near equal share of that reward, thus each of those hatchers can only hoard half as much even with the same amount of work as they would be able to with BTC. Couple that with the fact that a transaction requires at LEAST 2 hatchers to do the same work on it, further spreads that 80% around the hatchers in the system.

That alone should reduce the hoarding by a large percentage and keep the supply spread around more accounts.

The remaining 20% allocation is spread around everyone else with a stake, and while this may seem like that may promote hoarding, that is not the case. The maximum amount of EMU that any one client can recieve in this 20% spread is 1 EMU, no more. In reality, there will be 100's, 1000's even of account with various amounts of EMU held there, so the hourly 12.5 EMU's will be spread very thin, but spread nontheless.

When taken in the context of a thriving eco-system, the fact that 20% is spread everywhere, and quite thinly, and that hatchers are allocated EMU by work and not first found, ensures that the chances of any one account, holding enough EMU to be able to disrupt the market is unlikely.

Silvio
  • 141
  • 5