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Create a Digital Currency, Dave Stotts (S)
The team will define and implement several aspects of a digital currency (like the now imfamous and fairly well knows BitCoin). Aspects include:

  1. rules for how a unit of currency is created (“mined”)
  2. rules for currency lifetime (is it limited, or unlimited)
  3. software to trade currency (an exchange) and therefore a way to give value to the currency
  4. software for owners of currency to manage their property (a wallet or personal bank), including removing (spending), adding (buying or receiving new units), and perhaps loans

The project will involve a good deal of research into how these sorts of activities are done in BitCoin and implementing new approaches as the team wishes. The goal is to build a digital currency with mining more amenable to single users with a single machine.


Tweet version:

“To create a digital currency that is secure, easily used, and that can be created (mined) on computationally low-resource machines (“everyday”¬†machines such as a laptop).”