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Title: [2016-03-12] Decentralize Bitcoin again: bigger blocks and a new dynamic PoW Post by: LiteCoinGuy on March 12, 2016, 07:19:21 AM Decentralize Bitcoin again: bigger blocks and a new dynamic PoW
First, I ignored the block-size debate. It was always clear to me that we needed bigger blocks and the one MB limit is purely artificial. Historically, the block-size limit was introduced to make it impossible to spam-attack the network while bitcoins were cheap. Satoshi himself had no block-size limit. He was talking about ‘100 million transactions per day’, which clearly need more space than one MB. https://medium.com/@yanislav/decentralize-bitcoin-again-bigger-blocks-and-a-new-dynamic-pow-199a68dbf34a#.6dvthavvq interesting idea at least... Title: Re: [2016-03-12] Decentralize Bitcoin again: bigger blocks and a new dynamic PoW Post by: indiemax on March 13, 2016, 10:30:20 AM Indeed an interesting idea,Bitcoin does need some future proof changes urgently
but would the Chinese miners allow or vote for this,or anything else that takes their monopoly away? Title: Re: [2016-03-12] Decentralize Bitcoin again: bigger blocks and a new dynamic PoW Post by: Kingno.1 on March 15, 2016, 06:22:13 AM we should rapidly change the PoW algorithm to make it impossible to build custom ASIC hardware; making Satoshi’s vision of One-CPU-One-Vote true again. Therefore, we need a dynamic PoW algorithm. Dynamic hashing could be one way. Another way could be finding a certain sequence of prime numbers, like in Primecoin — the “Cunningham-chain”. Also the prime-number-chain algorithm needs to be dynamic, meaning that the requirements for the prime-number-chains need to change over time.
Title: Re: [2016-03-12] Decentralize Bitcoin again: bigger blocks and a new dynamic PoW Post by: LiteCoinGuy on March 15, 2016, 03:45:47 PM we should rapidly change the PoW algorithm to make it impossible to build custom ASIC hardware; making Satoshi’s vision of One-CPU-One-Vote true again. Therefore, we need a dynamic PoW algorithm. Dynamic hashing could be one way. Another way could be finding a certain sequence of prime numbers, like in Primecoin — the “Cunningham-chain”. Also the prime-number-chain algorithm needs to be dynamic, meaning that the requirements for the prime-number-chains need to change over time. i highly doubt that we will ever change the mining-algo at this point. this is a 7 billion industry. |