ATBCoin: What I have to say about their WhitePaper
Recently I had an hold on a tip about ATBCoin and I decided to read their WhitePaper and saw a few things that I thought were not necessary, wrong information or just complete bullshit. I will point out the flaws and fat and please let me know in the comments what you think about those.
1. SegWit allowing a coin to have 4MB block size
ATB Coin on the Page 8 of their WhitePaper, section 2.2.3 basically explain that SegWit allows a cryptocurrency to increase their block size to up to 4MB.
Since this limit [(1MB block size of Bitcoin)] leads to slower transaction approval time and higher
transaction fees within a busy blockchain network, leading to lower overall
performance, SegWit increases this limit to up to 4MB per block by
excluding witness data [...]
and later in section 2.2.1 Overview they say again
SegWit allows for writing up to 4MB into a single block.
This is completely false. As a coin programmer, you can decide the size of the blocks you want and you don't need SegWit to have blocks bigger than 1MB. Some coins like ETH does not have any block size limits, Bitcoin Cash went for a over sized block limit with an 8MB blocks and ZCash has currently a block size of 2MB. All three coins listed does not support SegWit which brings me to say again, SegWit does not allow a coin to increase it's block size, the coin developpers does.
2. Bragging their 2.5 block emission and comparing every PoW coins to be at 10 minutes.
ATB Coin is a Proof-of-Stake (PoS) coin and has a block emission of 2.5 minutes which is 4 times faster than Bitcoin that is 10 minutes. My issue here is that : they compared their coin to EVERY Proof-of-Work coin as shown here :
On top of that, the ATB Coin network creates a
new block within 2.5 minutes against 10 minutes in POW-based crypto
currencies.
I can understand that PoS coins usually confirm faster than PoW coins but they should not compare their coin to all PoW coins while not being the fastest coin on the market, either PoS or PoW.
3. 5.1 Pay-As-You-Go
First of all, in my opinion the whole 5 section, except the page 23 where they explain what Bitcoin and their coin do and then the solution for micropayments their coin does, is plane fat and therefore should not even be there and should be skimmed out.
So my point with Pay-As-You-Go is the that if you read the whole part, the section 5.1.1 Advantages and the 5.1.2 Disadvantages are the exact same thing as shown here :
5.1.1 Advantages
Allows the user a pure a la carte experience. They only purchase what they
want, and they pay when they want to.
The merchant can market low cost virtual goods to a user who may otherwise
balk at paying a higher price for bulk access.
When credit card information is stored with the merchant, the low price of
individual micropayments may encourage the user to partake in “impulse”
buying, similar to how retailers put low cost candy bars, magazines, etc. in
check out lanes.
5.1.2 Disadvantages
Allows the user a pure a la carte experience. They only purchase what they
want, and they pay when they want to.
The merchant can market low cost virtual goods to a user who may otherwise
balk at paying a higher price for bulk access.
When credit card information is stored with the merchant, the low price of
individual micropayments may encourage the user to partake in “impulse”
buying, similar to how retailers put low cost candy bars, magazines, etc. in
check out lanes.
Alright although not having any relation to cryptocurrencies or their own, the person who wrote it made a poor job at writing it and makes me wondering what was the purpose of that part if they were not going to make a proper section for it.
4. Cloud mining with PoS??
Cloud mining at its core is the action of buying or renting hardware to compagnies that sells their ASIC and GPU hashing power. So with that being said, that can only be done with PoW coins and can certainly not being done with PoS coins. You either buy coins to stake them and make money out of it, or you don't and don't make money. If there's something similar to that, it would be a PoS pool just like poswallet that have online PoS wallet that stake your coins.
5. Smart Contracts, but no informations
They promote their coin allowing Smart Contracts. I have nothing to say about the fact the fact that they allow Smart Contracts. But no where in their whitepaper they say what languages they will allow and or the prices of the emission of their Smart Contracts. The only thing they talk about in their WhitePaper is what Smart Contracts are.
Conclusion
So those are the small things I am thinking about right now and things that I think makes a WhitePaper flawed and or bloated for no reason. Let me know in the comments below what you think about the points I shared and what you think about their WhitePaper (Can be in another Steemit article and dropping a link in the comments).