Cryptography, it’s all around us, and it’s here to stay. My name is Carsen Klock, I am a developer, designer, and crypto entrepreneur. I want to share several things I’ve learned about developing cryptocurrency with you.Back in 2013 and 2014, I created a plethora of altcoins, aka. cryptocurrencies based off the Bitcoin Core source.
Specifically at that point in time, version 0.8. Going into crypto I saw a lot of coins that were just blatant copies of Bitcoin, Litecoin, with no new innovation.During this time, I saw a gap in the cryptocurrency industry. A very large gap between; innovation, and scams. I decided to create several coins that helped to change the industry for the better. I had invented the X13, X14, X15, and FRESH (NIST5) hashing algorithms and python mining modules. Unfortunately a lot of coins that I had implemented these features with, were more so small projects to test these new algorithms.
With the PoW consensus methods, most of my coins failed due to a lack of consistent development on my end and a huge amount of FUD within the Bitcoin community. I had also created the first working PoS transition hybrid coin where after a set amount of blocks the coin would transition from a Proof Of Work consensus to a Proof Of Stake.
These consensus methods are still very controversial, PoW or PoS? We can see this now with the crypto called Ethereum. In my opinion the PoS consensus method is flawed, the rewards are low, miners are cancelled out, and the rich get richer...continue reading: https://themerkle.com/my-experience-as-a-cryptocurrency-developer/?utm_medium=push&utm_source=onesig...
Specifically at that point in time, version 0.8. Going into crypto I saw a lot of coins that were just blatant copies of Bitcoin, Litecoin, with no new innovation.During this time, I saw a gap in the cryptocurrency industry. A very large gap between; innovation, and scams. I decided to create several coins that helped to change the industry for the better. I had invented the X13, X14, X15, and FRESH (NIST5) hashing algorithms and python mining modules. Unfortunately a lot of coins that I had implemented these features with, were more so small projects to test these new algorithms.
With the PoW consensus methods, most of my coins failed due to a lack of consistent development on my end and a huge amount of FUD within the Bitcoin community. I had also created the first working PoS transition hybrid coin where after a set amount of blocks the coin would transition from a Proof Of Work consensus to a Proof Of Stake.
These consensus methods are still very controversial, PoW or PoS? We can see this now with the crypto called Ethereum. In my opinion the PoS consensus method is flawed, the rewards are low, miners are cancelled out, and the rich get richer...continue reading: https://themerkle.com/my-experience-as-a-cryptocurrency-developer/?utm_medium=push&utm_source=onesig...