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#Potential TODO List

Blockchain problems

  1. High Energy Consumption: Mining activities for cryptocurrencies consume a significant amount of energy. This has raised environmental concerns and calls for more sustainable alternatives.
  • 1a. Proof of Burn: Potentially go PoW to PoB, triggers at max coins infinitely.
  • 1b. Proof of Stake: Potentially go PoW to PoS once max coins are reached.
  1. Fair Distribution Mechanisms: Implement fair distribution mechanisms such as airdrops or initial coin offerings that target a broader audience, including those with lower incomes or late adapters.
  2. Layer 1 and 2 Solutions: Utilize Layer scaling solutions like sidechaining, or the Lightning Network for Bitcoin or Optimistic Rollups for Ethereum. These solutions process transactions off-chain and then settle them on-chain, reducing congestion.
  • 3a. Sharding: Implement sharding, which divides the blockchain into smaller, more manageable pieces (shards) that can process transactions in parallel.
  1. Zero-Knowledge Proofs: Potentially implement zero-knowledge proofs (e.g., zk-SNARKs) to enhance privacy without compromising security.

Todo list (priority order)

  1. Encrypt Private Keys: Implement AES encryption for storing private keys in wallet.json.
  2. Encrypt Blockchain Data: Implement encryption for storing the blockchain in blockchain.json using a secure encryption library like cryptography.
  3. Use HTTPS: Update the network communication to use HTTPS instead of HTTP.
  4. Partial Mine Rewards: Potentially impliment partial PoW iteration confirmation. *partial
  5. Input Validation: Implement input validation checks for transaction amounts and addresses.
  6. Hierarchical Deterministic Wallets (HD Wallets): Implement HD wallets to generate a tree of keys from a single seed.
  7. Transaction Pool: Maintain a pool of unconfirmed transactions to be included in future blocks.
  8. Blockchain Pruning: Implement blockchain pruning to reduce storage requirements by removing old, spent transaction data.
  9. Transaction Fee Calculation: Implement dynamic transaction fee calculation based on network conditions.
  10. UTXO Model: Implement the UTXO (Unspent Transaction Output) model for tracking transaction outputs.
  11. Address Reuse Prevention: Ensure that new addresses are generated for each transaction to enhance privacy.
  12. Multi-Signature Transactions: Support multi-signature transactions for enhanced security.
  13. Block Validation: Implement comprehensive block validation rules to ensure the integrity of the blockchain. *partial
  14. Secure Signing Algorithm: Replace the current signing method with ECDSA.
  15. BIP-39 Mnemonic Phrases: Implement BIP-39 for generating mnemonic phrases for wallet backup and recovery. *partial
  16. Peer-to-Peer (P2P) Network: Implement a P2P network for decentralized communication between nodes.