I was reading the blog which mentioned eventually changing the mining from Proof of Work to Proof of Stake eventually.
Would not Proof of Importance be better?
For example a deposit is vested after 24 hours.
The current balance could be compared to the vested balance.
Accounts that perform more transactions, incoming and outgoing, would have more importance than an account that was inactive. And receive more rewards for their activity.
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I am certain ethereum developers could mull it over and know what and how to do it
blog.nem.io/nem-technical-report/
blog.nem.io/nem-technical-report/
https://muut.com/neweconomy#!/nem-dev-updates
or here
https://forum.ournem.com/technical-discussion/nem-technical-reference-feedback-thread/
"Normal economic activity should make this attack irrelevant. I was specifically referring to the case where in the absence of economic activity, an actor used their XEM in an optimal way to boost their score. In that case, every rational actor would do the same, so there would be no benefit."
That being said, for 99.9999% of users, no one will care about harvesting. NEM's client-server architecture makes it easy for anyone to just connect to a publicly available server safely, without having to worry about running their own node or harvesting blocks.
Almost all coins have some sort of controversy. Ethereum with their 'wasted funding', Dash (formerly known as DarkCoin), with their error in recalculating block difficulty in its early days but I think you will find it hard to call these projects scams. Poorly managed maybe, but fraud...
NEM like these other projects, had its own fair share of drama.
Due to their early distribution method, to give XEM stakes away for free (way back before even it was launched), this was highly abused and many created sock puppets to get more free coins including their 'leader' UtopianFuture back then. You can read more here. UtopianFuture dropped out and was never seen again while the key members of the project carried on without him. A lot of these sock puppets were identified using IPs, browser fingerprints and taint analysis which was a very tiresome process and their stakes revoked (and obviously making some people unhappy).
The whitepaper is out for POI and it will eventually be open source. It may be unproven, but in some ways so is PoS. Both POI and POS have running implementations and have been tested. Does that make PoS (the proposed method of securing Ethereum in Serenity) a scam? POI may have some work to do to get proper recognition but the allegation of fraud which implies intentional fault built in, is frankly, unwarranted.
This no worse to let's say POW in BitCoin, which if you aren't buying off an exchange, requires you to buy expensive specialist hardware that won't even net you 1 coin while driving up your electricity bill unless you have economies of scale.