The TAUcoin Debate Bounty
So this is a first….
I was talking to the founder of TAUcoin the other day, and he’s more certain than ever that Proof-Of-Transaction is superior to PoW and PoS.
Although I’m not an engineer, my experience in cryptocurrency has definitely upgraded my ability to discuss these kind of complex concepts. We debated for hours, arguing about the weaknesses of PoW, the consequences of “spam” transactions in PoT, and the unique security inherent in egalitarian systems.
We decided that the best way to settle this was with a public challenge — to let the ENTIRE COMMUNITY debate him
Never has a project offered to pay for a logical attack on its concept. This is a first.
The iMorpheus Challenge
“I believe that Proof-of-Transaction is the best consensus mechanism when it comes to being:
• The most secure decentralized network
• The fairest decentralized network
• The most environmentally friendly decentralized network
Let’s jump to the year 2040, with the assumptions that:
1. Internet Speed has dramatically increased, from 4G to 10G.
2. Coins (TAU) with Proof-of-Transaction mechanism are widely distributed to billions of holders.
3. The TAU foundation team has successfully developed “automatic block sizes” that allows all miners to define their size and time of block generation.
Pow and PoS will have fallen to the pressure of large G20 governments. PoT will remain strong, built on the security provided by billions of transactions made by the people.”
Rules
- The debate starts today. Entries are posted in Bitcointalk thread https://bitcointalk.org/index.php?topic=4907712. The debate ends on the 30th of September.
2. Users are required to challenge Proof of Transaction’s consensus mechanism, with no limitation to proofs, arguments and ideas. Mathematical models are welcomed.
3. Our telegram community will vote among the top 3 best arguments/ideas/proofs, and 1Million TAU + $1,000 worth of BTC are being awarded to the highest vote.
4. The vote will happen in TAUcoin’s telegram group on 1st October, and the result is finalized on the 24th hour.
5. The arguments/ideas/proofs are defined to be the first user to propose it under TAU’s bitcointalk thread.
