It's a good thing that we predicted this would happen almost a month ago.
Proposal from Team BLUE: Currently the Blue Team is looking into a possible scenario where BlueCoin will take form as a PoS X11 hybrid coin instead of just PoS only. As we have seen in the past PoS-only coins can be prone to 51% attacks while an attacker holds only 20% of the total coins in circulation. This can happen when a majority of coins have been locked or are sitting inactive in cold storage.
Until cold minting is perfected and realized, this problem will continue to plague PoS-only coins and require centralized efforts to mitigate these types of attacks. When applying a PoW algorithm to the equation this exploit becomes very difficult if not impossible to execute.
The BlueCoin team believes in innovative PoS solutions, and more importantly believes in the economic model behind BLU offering a 3% annual interest rate to all the users of its network. With that said we feel that in order to maintain a secure and decentralized network it would be best to keep the ASIC resistant, CPU+GPU friendly X11 algorithm, running past block 10,000 and beyond.
In doing this BlueCoin would essentially drop the PoS interest to 1.5% per annum, and set the PoW distribution rate to a steady 1.5% per annum, leaving the original 3% return per annum unscathed. To conclude the top reasons for Blue going in this direction are to 1. Secure the network from these types of attacks now and in the long-term future. 2. Maintain a truly decentralized eco-system. 3. Involve more users into the equation by allowing them to mine with their laptops personal computers indefinitely.
We by no means want to change the rules unilaterally and would love to hear from you the Blue community! Let us know what you think about this proposal. As always were here to serve you!
http://www.peercointalk.org/index.php?topic=2783.0http://wiki.darkcoin.eu/wiki/X11 