[bitcoin-dev] Proof-of-Loss

Mirelo mirelo at deugh-ausgam-valis.com
Thu Apr 6 05:47:17 UTC 2017


No, it is not, but I would like to ask anyone with any feedback on proof-of-loss to please direct it only to my email, or else follow the discussion links on the Proof-of-Loss home page.



-------- Original Message --------
Subject: Re: [bitcoin-dev] Proof-of-Loss
Local Time: April 5, 2017 11:43 PM
UTC Time: April 6, 2017 2:43 AM
From: earonesty at gmail.com
To: Mirelo <mirelo at deugh-ausgam-valis.com>, Bitcoin Protocol Discussion <bitcoin-dev at lists.linuxfoundation.org>

Is this the same as proof of burn?

On Apr 5, 2017 5:28 PM, "Mirelo via bitcoin-dev" <bitcoin-dev at lists.linuxfoundation.org> wrote:
With the feedback on Proof-of-Loss (always privately to my email), I realized the article was hard to understand for lacking:

* A more explicit definition of transaction rights.
* An overview of how the algorithm works.

As an abstract could not contain all that, I wrote an introduction with examples.

I also adopted a suggestion of including the current block height in the proof-of-loss data once I realized:

* Preventing the same proof-of-loss from chaining consecutive blocks was not the purpose of the proof-of-loss context, which did it statistically rather than logically.
* The presence of that height in the block header made serial chaining easier to enforce, by removing the need to include additional block height information.

While revising the algorithm, I made some corrections, mainly to:

* Transaction prioritization (which now uses fees instead of rights).
* Inactivity fees.

Finally, the new version more aptly derives the design and often has better wording.

The new text is available at:



-------- Original Message --------
Subject: Proof-of-Loss
Local Time: February 4, 2017 10:39 AM
UTC Time: February 4, 2017 12:39 PM
From: mirelo at deugh-ausgam-valis.com
To: bitcoin-dev at lists.linuxfoundation.org <bitcoin-dev at lists.linuxfoundation.org>

An alternative consensus algorithm to both proof-of-work and proof-of-stake, proof-of-loss addresses all their deficiencies, including the lack of an organic block size limit, the risks of mining centralization, and the "nothing at stake" problem:


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