Creating cryptocurrency on Holochain

General Chat
#1

Hye everyone, so I decided to create a cryptocurrency using Holochain but I will need some verifications beforehand.

So let’s say there are 6 agents in the network (A, B, C, D, E, and MasterNode),
A, B, C, D, E are normal everyday agents/users.
MasterNode is a special agent that will act as a bank in the network. It will be responsible for storing excessed minted coins and handling supplies. It can only buy/sell coins as a response to the normal agents’ request.

Theory

  1. A want to sell 100 coins.
  2. A contact MasterNode to inform that he wants to sell the coins to MasterNode.
  3. B, C, D, and E validates the transaction.
  4. A sold the coins to MasterNode, while MasterNode will give A Fiat currency.
  5. At the same time, B, C, D, and E got rewarded with coins by MasterNode. (MasterNode issues new coins from unminted supply and rewards them with it)
  6. Circulating supply increases and minted coins MasterNode holds increases.

My questions goes:

  1. Is the theory above applicable in Holochain, or is there any improvement or steps that are missing?
  2. Based on the theory, MasterNode will have some extra authorities in the network. But from my understanding, each agent in the network needs to have the same DNA/source code. Thus, is there any way that I can put MasterNode into the same network as the normal agents?

That’s all from me now, Thank you very much :slight_smile:

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#2

Why do you need a MasterNode?

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#3

I guess it will be easier for future auditing and holding some key features of the coin. Even though it looks like a centralized system, MasterNode will also have some heavy restrictions. Agents will still be able to transfer coins to another agent through P2P and without having to rely on MasterNode tho.

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