Hello there, DERO Community !
Im pondering the ideea of building a new Cryptocurrency on top of the DERO infrastructure.
Why not use DERO instead, one may ask ?,
Well, it is mostly because what i am trying to build will have some pretty unique features not only DERO doesnt have, (this way this Cryptocurrency will not even compete with DERO from this Point of view), but no other Cryptocurrency so far created has.
Trying to “fork” DERO or use its source code and adapt it to my Needs, would not only prove excedingly difficult, but also illegal, and in a world where People want stuff done “yesterday allready”, actually building the Cryptocurrency as a DERO Token, seems in the end the sanest and easiest way to do the Job. After doing some researched i learned that the DERO smart contract functionality has everything i need to create the Cryptocurrency, which in itself relies heavily on Smart Contract functionality.
There are some Caveats though:
Since i imagined the cryptocurrency to be POW, i guess i will be stuck with the POW of DERO and be at its mercy.
This is one of the problems i would see, as i wanted the Cryptocurrency to be POW with its own mining algorithm and with a Network of its own. However building it on top of DERO, i would have to make it so that those that mine DERO would also get this token as well.
Dero has different Blocktimes, and Blockstructure than what i had envisioned for my coin, so i would need to adapt to this as well regarding Emission logic. This could probably be achieved either using time stamps, or average block times as I would need to stick to a certain coin Emission rate per Minute.
In order to move my coin from address to address, one would have to use DERO to do it, since dero would function like gas. Probably a smart contract could be created/embeded to automaticall atomically change my coin for the required DERO gas fee, which would need to function without the users ever noticing…
However if people mine my coin by mining dero, they would also have enough dero to move it around. But the functionality of converting a small Portion of my token to Dero, and then initiate the token transfer, would probably still be required, as there are going to definetly exists People/addresses which will only have my token and no DERO to use as gas.
Building on top of DERO does have its advantages though:
- I would be choosing the best Blockchain for the Job i could have ever hoped to use or build and wouldnt need to build anything from scratch.
- Inherit the Advantages of the BlockDAG infrastructure as well as DERO as of yet unrivaled Privacy and anonimity; as well as other Tools DERO will have as a Cryptocurency. more on that here:
- Cutting production time enormously
- Getting help from People which are acquinted with DERO code to actually buil it.
One Thing of interest to note though:
Even though i have been working on the Whitepaper for the past couple of monts writing down ideeas, mechanics, Features, formulas, Guidelines, (wrote allmost 30 A3 pages so far) etc, i am on the lookout for People who can help me actually build this Coin, as i am in hardly in the Position to actually build it myself. Could take my sweet time learning myself all of the coding, but this would increase production time.
This is by no means a one man gig, as i am trying to involve several Cryptonote Developer Teams into banding together, and use this coin/platform as a common coin instead of theirs, while displacing their coins in the process, as everthing that they ever hoped to create or achieve or have created, can be used on a single unified superior platform.
Anyone who would like to help or wants to learn more about it, can contact me on discord and send me a direct message, my username is AncientHodler™#9706
As i said i would allready have some people that could help me with this endevour, but the more of us there are, the better. Also People who know how DERO actually works and functions are also needed, as i myself am trying to learn about some mechanics of dero i still need to learn about, in order to finish succesfully create this coin.