[Bitcoin-development] Proof-of-Stake branch?

Gareth Williams gacrux at gmail.com
Sat Apr 26 23:44:13 UTC 2014

What about using fraud proofs? Your coinbase only matures if nobody publishes proof that you signed a competing block. 

Then something is at least at stake. When it's your chance to sign a block, attempting to sign and publish more than one at the same height reliably punishes you (you effectively waste your chance and receive no reward.)

I can't remember who I saw discussing this idea. Might have been Vitalik Buterin?

On 27 April 2014 6:39:28 AM AEST, Mark Friedenbach <mark at monetize.io> wrote:
>There's no need to be confrontational. I don't think anyone here
>to the basic concept of proof-of-stake. Some people, myself included,
>have proposed protocols which involve some sort of proof of stake
>mechanism, and the idea itself originated as a mechanism for
>checkpoints, something which is very much on topic and of concern to
>many here.
>The problems come when one tries to *replace* proof-of-work mining with
>proof-of-stake "mining." You encounter problems related to the fact
>with proof-of-stake nothing is actually at stake. You are free to sign
>as many different forks as you wish, and worse have incentive to do so,
>because whatever fork does win, you want it to be yours. In the worst
>case this results in double-spends at will, and in the best case with
>any of the various proposed protections deployed, it merely reduces to
>proof-of-work as miners grind blocks until they find one that names
>or one of their sock puppets as the signer of the next block.
>I sincerely doubt you will find a solution to this, as it appears to be
>a fundamental issue with proof-of-stake, in that it must leverage an
>existing mechanism for enforced scarcity (e.g. proof-of-work) in order
>to work in a consensus algorithm. Is there some solution that you have
>in mind for this?
>On 04/25/2014 12:33 AM, Troy Benjegerdes wrote:
>> Do it. Someone will scream harm. The loudest voices screaming how it
>> be harmful are doing the most harm.
>> The only way to know is build it, and test it. If the network breaks,
>> it is better we find out sooner rather than later.
>> My only suggestion is call it 'bitstake' or something to clearly
>> it from Bitcoin. This also might be an interesting application of the
>> chains concept Peter Todd has discussed.
>> On Thu, Apr 24, 2014 at 04:32:15PM -0700, Stephen Reed wrote:
>>> Hello all.
>>> I understand that Proof-of-Stake as a replacement for Proof-of-Work
>is a prohibited yet disputed change to Bitcoin Core. I would like to
>create a Bitcoin branch that provides a sandboxed testbed for
>researching the best PoS implementations. In the years to come, perhaps
>circumstances might arise, such as shifting of user opinion as to
>whether PoS should be moved from the prohibited list to the hard-fork
>>> -----
>>> A poll I conducted today on bitcointalk,
>https://bitcointalk.org/index.php?topic=581635.0 with an
>attention-grabbing title suggests some minority support for Bitcoin
>Proof-of-Stake. I invite any of you to critically comment on that
>>> "Annual 10% bitcoin dividends can be ours if  Proof-of-Stake full
>nodes outnumber existing Proof-of-Work full nodes by three-to-one. What
>is your choice?"
>>> "I do not care or do not know enough." - 5 (16.1%) 
>>> "I would download and run the existing Proof-of-Work program to
>fight the change." - 14 (45.2%) 
>>> "I would download and run the new Proof-of-Stake program to favor
>the change. " - 12 (38.7%) 
>>> Total Voters: 31 
>>> -----
>>> Before I branch the source code and learn the proper way of doing
>things in this community, I ask you simply if creating the branch is
>harmful? My goal is to develop, test and document PoS, while exploring
>its vulnerabilities and fixing them in a transparent fashion.
>>> Thanks for taking a bit of your time to read this message.
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