PIP-0019.md 1.5 KB
PIP: PIP-0019 Title: Balance recovered from lost accounts to be sent to developers fund Type: Protocol Impact: Hard-Fork Author: Dr. Muhammad Amer <[email protected]> Comments-URI: https://discord.gg/sJqcgtD (channel #pip-0019) Status: Draft Created: 2018-01-27
Summary
It is proposed that major portion of recovered balance (80%) from a lost account should go to developers fund.
Motivation
Coinrot is a serious economic issue afflicting almost all other cryptocurrencies. Coinrot is the phenomenon of coins being permanently lost due to lost/corrupted keys and/or natural death. It is estimated that 20% of Bitcoins have already rotted. PascalCoin solves this problem by allowing PASC to be transferred from an account, without owners signature, after an inactivity period of 4 years. In current protocol, the recovered balance from a lost account will go to the miner who will mine the block with lost account. It is proposed that major portion of the recovered amount (80%) should go to developer's fund. This will still give 20% to miners and enhance developer's fund income.
Specification
None Provided
Rationale
According to current protocol, lost account balance can be recovered by miners. By sending major potion of recovered account balance to developer's fund will enhance community effort to uplift PascalCoin.
Backwards Compatibility
Despite no specification, this proposal is likely to require a hard-fork activation.