[Bitcoin-development] ASIC-proof mining
randi at codehalo.com
Mon Jul 7 00:20:38 UTC 2014
Indeed, I am aware of current approach, which is why I was suggesting
this as an alternative.
I haven't thought about it enough, and perhaps it was too radical a
rethinking - just wanted to see what the smarter minds thought.
On 7/5/14, 4:43 AM, Mike Hearn wrote:
> Is it possible instead to allocate a portion of the reward to " a # of
> runner up(s)" even though the runner-up(s) block will be orphaned?
> There's really no concept of a "runner up" because hashing is progress
> free. It's unintuitive and often trips people up. There's no concept
> that everyone is 95% of the way to finding a solution and then someone
> pips you to the post. It's more like playing the lottery over and over
> again. Doesn't matter how many times you did it before, the next time
> your chances are the same.
> A better concept is of rewarding "near miss" solutions which is what
> we already do of course, via pools, which pay you for shares which
> don't quite meet the difficulty target but almost do. So the question
> is how can we implement pools which have this reward structure (which
> obviously works well) without miners simultaneously giving up their
> right to block creation either due to technical problems or sheer
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