Who decides about the locking of accounts? Senators?
Initial accounts will be locked by me before release.
Anyone can lock their own accounts and also anyone will probably be able to assign a special status to their accounts, which will require senate vote to send txs from it.
Are you not afraid of sockpuppets and other forms of corruption? And don't you think people will disapprove the centralized aspect of using just a few people who can make decisions?
The whole point of PoS is to avoid Sybil attacks by using stake.
And I don't see any problem with representative democracy, indeed I think it's superior to popular vote.
If we had an unelected politburo, that would be a problem; instead you will be free to delegate your stake to whomever you think represents your interests best.
Does that mean SimToy will use the DPoS mechanism for consensus?
I am not yet sure about that. I was against DPoS before and am still mostly against it. Delegation solves the problem of limited stake in nodes, but on the other hand increases the risk and also allows people to monetize their power. So still thinking about this... For now power can only be delegated to senators.
Can non-senators submit proposals as well?
There are no proposals. The only power senators have is to send txs from Genesis accounts (and any other with the special status).
This allows them to spend Genesis money and to recall account statuses, for example revoke the NODE status in case a node is proven to be malicious. They can also change some system variables that are stored in the ledger.
Will you create a separate 'ANN' post for SimToy?
I view SimToy as v1.0 of Simcoin. It will eventually be improved to match the original Simcoin specs.
