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Title: PPC Stake Mining Pools Post by: ripper234 on April 11, 2013, 04:15:45 PM Repost from here (https://bitcointalk.org/index.php?topic=172810.msg1805767#msg1805767).
Was the concept of "Stake Mining Pools" discussed? Perhaps using some protocol feature to ensure the pool can't steal my funds, but only sign? I don't want to keep a live wallet open, but I want my funds to generate interest for me and contribute to network safety. The obvious solution is pooling funds at one very secure wallet ... but there has to be features that prevent theft by the pool operator. Title: Re: PPC Stake Mining Pools Post by: brenzi on May 01, 2013, 04:56:35 PM Repost from here (https://bitcointalk.org/index.php?topic=172810.msg1805767#msg1805767). I wonder if pooled PoS mining is in the interest of the PPC network. If pooling would reach the same popularity as for bitcoin, a 51% attack would be a risk for PPC. Was the concept of "Stake Mining Pools" discussed? Perhaps using some protocol feature to ensure the pool can't steal my funds, but only sign? I don't want to keep a live wallet open, but I want my funds to generate interest for me and contribute to network safety. The obvious solution is pooling funds at one very secure wallet ... but there has to be features that prevent theft by the pool operator. Why would you want to pool anyway? PoS mining is a lot "easier" than PoW and PPC would be more secure if there are a lot of small miners than only a few pools. In fact, pools for PoS mining would be almost the same as banks. As I understand decentralized currencies are much about bypassing big banks (apart from central banks obviously) Title: Re: PPC Stake Mining Pools Post by: ripper234 on May 02, 2013, 10:20:56 AM I wonder if pooled PoS mining is in the interest of the PPC network. If pooling would reach the same popularity as for bitcoin, a 51% attack would be a risk for PPC. Why would you want to pool anyway? PoS mining is a lot "easier" than PoW and PPC would be more secure if there are a lot of small miners than only a few pools. In fact, pools for PoS mining would be almost the same as banks. As I understand decentralized currencies are much about bypassing big banks (apart from central banks obviously) I want to pool because I don't want to have software running on my computer 24X7, even if doesn't use CPU. It's just more convenient. Let's put it another way - I'm willing to loan my money to anyone who can promise: 1. To share at least 50% of the Stake reward with me. 2. To behave honestly and not try to "51% attack" the network.3 3. To implement the loan mechanism in a way such that I don't have to trust him and that I'll definitely get my money back. I don't know if scripts (https://en.bitcoin.it/wiki/Script) can be used to achieve #3, or perhaps a specific protocol change in PPCoin is needed. |