I was thinking about the ideal model for a crypto-CURRENCY, there should be some features that I see from many others, but I didnt see implemented all in one place:
Unlimited supply; yes, if a CURRENCY is to remain functional long-term it needs an unlimited supply, people lose money/private keys all the time (insurance can replace then but only if enough coins will exist), and to have some semblance of intention to spend (rather than hoard), there needs to be constant trickle of new supply.
Block Rewards; not fixed but % based, the APR being based on minting a new amount of coins per year, thereby the actual APR drops over time, but never reaches zero. This incentivises miners forever. Also the rational miner will not attempt to build on two or more chains; they will get the accumulated % reward whichever chain they mine but it will only be spendable when they get back onto the main chain. If there are no transaction fees to be lost (see below); what rational miner in that case would wilfully damage consensus, for no additional reward?
Transaction fees; not going to block creators, but being burned. Offsets the constant supply and the amount of burn can feedback into the APR calculation to ensure small but constant inflation. Transactions can be processed in whichever order a miner wants, but first come first served would be the default "fair" method (why not, miners dont care without receiving transaction fees).
Variable block size; Burned transaction fees can rise, but only after the block size has reached an upper bound, as technology increases in speed, the block size can float higher.
Second layer reward rails, like allocating additional daily reward to verifiable off-chain activity.
Structured this way, PoW is only needed for initial launch, thereafter a PoS algorithm like PoS-Time can constantly maintain a network that has no incentive to participate in nothing-at-stake, encourages stakers to be constantly online and ensures the rich have to expend more effort than the poor to gain rewards.
