toychain/notes.md

# Design Notes


## Initial design choices

- protocol/routing/network layer: websockets (multi nonblocking clients)
- server-side fileformat : yaml
- client-side fileformat : JSON

## Language choice:
  serverside: perl (or nodejs)
  clienside: javascript

## block chain structure

 minimally sized blocks :
  - segreated signature, timestamp, audit etc.
  - block: {address, previous, pow}


## observation ...


- revokable block if sign w/ a DH on txo and ECDSA on txi

-  txroot (merkle root can be global)

-  PoW is to slow down chainupdate to avois spam
-  consensus is on the longest length
-  /!\ maximal work is hackable (as pow is exponential to difficulties)
 
-  sort of tx sequence can be done on node side
-  block chain can store tx out of order (FIFO style)

-  does mining really need to be conpetitive ?
-  if mining is done by all node the recipient of txo will be willing to mine!
-  if a .2% tax on transaction can replace/solve all VAT taxes
   then mining rewards is "artificially" inflated to compensate for a wasteful
   technology

-  nano-trading is stealing (i.e. taking advantage of who has the power to be informed fast)
   on need to put a "lowpass" filter on trading :
   speculation is necessary for long term protection against future uncertainty...
   short term predicition make no sense !

   long unpredictable queue time (mempools) can deter speculator as it would be like "lotery"
   lotery is a "gamified" tax extractor.