PROOF OF CONCEPT(GAS TOKENS) Part 1- A SEPERATE ENTITY FOR GAS FEE TO HELP BOTH MINERS AND USERS.
I've actually come across different methods of rewarding miners for their work. Although customers who transfer a certain amount in a blockchain seem to lose some part of their payment in the Gas fees.
So, I actually developed a theory similar to the proof of stake, proof of work, and hybrid proof of work and stake.
ETHEREUM
Whenever a person transfers a certain amount of eth, a little proportion of the total transaction is taken and is rewarded for miners who help to validate it.
As the price of ethereum has been on a spike and miners' transaction fees turned out to be a little expensive too.
And the price of the gas fees has been increasing too. It mostly depends on how fast your transaction can go through.
The time limit varies from 30 sec to 30 min.
This turned out to be the classical way of transferring crypto.
I've personally never seen a person chilling out and asking the other person to send crypto slow.
TRON
Tron followed the same steps and has been dramatically changing its functionality for the past few months.
1)They also created their own virtual machine similar to EVM(ethereum virtual machine).
2)They also started implementing solidity to create TRC 20 tokens similar to ERC20 Tokens on the ethereum platform.
3)So whenever you perform a transaction of( example 100 Tron- 2 Tron would be deducted for the network fee)
MY THEORY(POG-proof of gas)##
Since one coin can only operate on its self-sustaining blockchain it is impossible to create a purely even decentralized cryptocurrency. Although I personally do not like losing even a little amount of crypto for the network fee.
Since most of the high-end server farms are owned by the crypto creators, they get back the cryptocurrency in return through mining and reciprocate the process.
My theory validates some simple steps.
- A special coin to be created only for the usage of Gas(like steem power)
2)The gas fee token (consider it be called Gtoken) should be able to swap to the original token, like BTC->eth.
3)The gas fee should be lowered when there are plenty of miners around and should be higher when there are less fewer miners. Mostly depends on the timeline.
Consider there are 1000 miners from 9 am-3 pm, the coin transaction would be 100 Ocoins(consider the coin to be called Ocoin) and as the user has a hold of plenty of Ocoins they get rewarded with Gtokens. so when a user transfers 100 Ocoins, the total amount of the original coin goes through and as an entity to be participating in the system. they would get rewarded with Gtokens which they can use for gas fees. which would be lower from 9 am -3 pm as there are plenty of miners at hand and the probability of the transaction to be validated is higher.
Similarly, the gas cost would be higher when there are fewer miners around.
##HOW DO USERS GAIN Gtoekns##
A platform can be created( a texting platform, video platform, blog platform, etc) where users can post or spend time on the project(platform) and the gas tokens will be rewarded respectively with time they spend over the platform.
*****HOW TO EXCHANGE Gtokens FOR USERS AND MINERS********
A trading application would be developed to trade the Gtokens to Ocoins
All types of coins can be implemented with less Gas charge as the miners can earn rewards actively.
A separate merchant node would be created which would be monitored by the people who develop this project at first to act as middlemen to transfer the Gtoken to Ocoins with a 0% fee. And later slowly allow the public to join the merchant node to avoid a 51% attack.
The Gtoken would also be used under Defi(decentralized finance, which I will explain in the next part) to earn passive
income.