* Question
How to make a cryptocurrency widely adopted?
* Reasoning
I assumed that even though a cryptocurrency might be in high demand
today, just look at https://coinmarketcap.com for how much people
are willing to pay even for 'joke coins'. I decided that this would
not last much longer. If you look at Fig1. I predict that
crypto-currency market is at an initial stage that would be
somewhere on the red line on the very left part of the graph. And
we're headed towards lower prices, and higher quantities.
So, assuming cryptocurrency to be cheap, and super available as it
should be in near future. What are the best use case for it? The best
answer i could come up with is distributed computing, through not
a network of computers, but an economy of computers, exchanging
resources like computing, data, and what have you, for a price. Just
like in the real economy, you can't get a coke for free.
This could be an alternative to 'mining' where the users spend their
computing power in return for the ability to 'print' a limited
amount of crypto-currency tokens, but in our case there is no
'printing' just a regular transaction. This will be in the end the
incentive to use our crypto-currency as compared to anybody
else's. To use it to buy the computing resources on participating
computers.
* Execution
- Make a blockchain in Erlang.
My preliminary research shows that Erlang is a good target for this
purpose. As part of Erlang is the BEAM Virtual machine that works
well for asynchronous and parallel processes.
* Figures in ../res
Fig1: [[../res/sup-dem-curve.jpg]]