Proof of Move - blockchain DApp
Here is my blockchain app idea, that you can steal if you want :)
What is Proof of Move?
It's my concept, that i came up with basically a minute ago. There are many proof of 'something' in blockchain space. Generally it's a rules, algorithms that describes, who gets payout in particular projects. And for BTC it's computing power(you have higher - more BTC you gets), for burstcoin it's HDD space, for Nem it's amount of XEM you have, for Steemit it's a content you create etc...
I think that most of these proofs are wrong. Why? Because unnecessary goods are wasted. For example in for Proof of Work, a lot of energy is wasted only for mining. Actually i like projects like Steemit, that have proofs which is not a waste, but it's useful(content).
So i came up with idea that incentivise people to do another useful thinks and earns goods by doing it.
I present you Runchain
The idea is very simple(as far as I understand technical details). Runchain can be an Ethereum application. It can be as individual new asset, but it's unnecessary. It's a smart contract. Every day if you want to contribute in challenge, you're sending f.e. 1 ETH to Runchain address, and you just starts moving. Jogging, running, biking etc. Another part of app is something like step meter. In this case i've lacks of knowledge, but i know there are some apps, or libraries to help develop apps like that. At the end of the day algorithm counts how much assets you contributed, how much miles/kilometers you've done and sends your earnings to your account. Where the money come from? From other users, that wasn't move that day as much as you. It's a win - win. If you contribute by sending asset to Runchain and not moving that day - you lose, otherwise you earns.
Example
You are sending 1 ETH. Another 99 people're also sending 1 ETH. Let's say, that you runned 5 kilometers that day with smartphone with app in your pocket. At the end of the day an algorithm adds distances of every users(let's say its 100 KM - some of them didn't move at all), and disposes to users. Your earnings are: (100ETH / 104KM) * 5 =~4.8 ETH. It can be divided to f.e. 24 time zones to be fair.
So that's it, that's the idea. No need of ICO, there is no risk of unnecessary speculations of newly created token, just pure, competitive, encouraging to move simple dApp.
What do You think about this idea?
So, instead of people mining for coins, you have people running. I love the idea of it! Keep moving to produce a minimum viable product!
I like the idea, there are some issues that you'd need to work out (it would be extremely easy to cheat and with money involved you need to find a way around that).
But you might want to read up on your understanding of 'proof-of-something'.
For example steem works on proof-of-work just as bitcoin (or ethereum for that matter) does so you have just as much waste of energy. The difference is that bitcoin gives all newly minted coins to the miner that got the 'proof' first whereas steem gives (a part) to the content creators but that has nothing to do with the proof at all. Admittedly it's quite complex and not that easy but might be worth reading up on it :)
Yes, I knew there is mining also, but didn't search for details. Thanks for clarification.
I applaud your creativity. Like codingpanda said, there would require some way to stop the cheating. Besides simple attaching a device to the dog's collar or something, there'd be those who would create an artificial changing signal to feed in to the system that would appear to be moving. This is a great place to share innovative ideas though, so maybe someone will think of something that works sometime and you can be like "I thought of that idea, its even etched on the graphene (steemit) blockchain" :)
He is right you know mining is an incredible waste of energy and computing power and contributes nothing in the process. Have to contribute more value that just hashing out a block needs to be explored.
There is already something similar where you earn points for making physical exercises, but It is run by non-profits who provide the incentives, there is an App on AppStore. You are basically decentralizing that idea with incentives coming from community bets.
Just one question, if the contributor is a courier and moves all day ... won't he be winning all day? :)
Haha, yes, that's true :)
so only runners would get the coin - I would not want the coin since I would loose it because most of the day I sit on my butt
Just do it then.
great idea. go for it :)
Good idea