Title: POW Rune Protocol Post by: studyzy on May 09, 2024, 04:13:57 AM Rune protocol is a popular Bitcoin ecological token protocol recently, but Rune's Mint adopts a first-come-first-served method, which cannot reflect fairness. Here I propose a POW-based rune improvement protocol. In this protocol, mint must be based on pow proof, and the number of mint is determined by the hash value of the pow result, so that everyone can mint tokens more fairly.
The changes to the pow rune are as follows: 1. Modification of etching definition 1.1 Remove premine, everyone mints fairly. 1.2 HashSequence The etching definition contains the hash type, which can be concatenated in multiple ways. The enumeration of hash types is as follows: Code: type HashType int CommitWindow defines the height range of submission. For example, if the CommitWindow of a Rune is 100, when performing POW calculation and minting rune, based on the hash of the 1000th block, this mint transaction must be submitted and packaged before the height of 1000+100=1100. Mint beyond the CommitWindow will be considered invalid. 1.4 BaseZero Defines BaseZero, which requires at least how many zeros to be considered successful Code: type Etching struct { runeId, blockHeight, nonce How to calculate how many runes are minted? Code: hashSequence:=getHashSequence(runeId) //Query the Etching definition of runeid and obtain its hashSequence Code: func CalcMintAmount(hash []byte, baseZero uint8) uint64 { In order to distinguish between the existing rune protocol and the pow rune protocol, we can adjust the magic number of the pow rune, such as changing OP_13 to OP_14, so as to achieve mutual non-interference with the existing rune protocol. Title: Re: POW Rune Protocol Post by: pooya87 on May 09, 2024, 05:06:01 AM Rune protocol is a popular Bitcoin ecological token protocol recently Wrong. Bitcoin is not a token creation platform and you cannot create any tokens inside Bitcoin. "Rune", "Ordinals" etc. are also not part of the Bitcoin protocol and they are not token protocols. They are all methods to exploit the bitcoin protocol in different ways to inject an arbitrary data into bitcoin transactions.There are a handful of side-chains and countless actual token creation platforms such as ethereum that should be used for token creation so that what you are proposing here can actually be part of the protocol and be enforced by that protocol instead of being an arbitrary data that means nothing and is worth nothing. Title: Re: POW Rune Protocol Post by: khalidkhan82118 on May 09, 2024, 05:16:10 AM Rune protocol is a popular Bitcoin ecological token protocol recently Wrong. Bitcoin is not a token creation platform and you cannot create any tokens inside Bitcoin. "Rune", "Ordinals" etc. are also not part of the Bitcoin protocol and they are not token protocols. They are all methods to exploit the bitcoin protocol in different ways to inject an arbitrary data into bitcoin transactions.There are a handful of side-chains and countless actual token creation platforms such as ethereum that should be used for token creation so that what you are proposing here can actually be part of the protocol and be enforced by that protocol instead of being an arbitrary data that means nothing and is worth nothing. Title: Re: POW Rune Protocol Post by: ABCbits on May 09, 2024, 09:21:37 AM I was about to suggest you post this elsewhere, but it seems you already do that[1]. Anyway, i skimmed your idea and i have 2 thoughts.
1. How do you handle someone who intend to rent tons of GPU/ASIC at once to instantly mine all token? 2. Limiting to few hash type is probably better for maintainability sake. IMO 2 hash type, where the former can be mined with ASIC and the latter only can be mined with CPU/GPU should be good enough as starter. [1] https://github.com/ordinals/ord/issues/3739 (https://github.com/ordinals/ord/issues/3739) Title: Re: POW Rune Protocol Post by: studyzy on May 09, 2024, 12:53:12 PM I was about to suggest you post this elsewhere, but it seems you already do that[1]. Anyway, i skimmed your idea and i have 2 thoughts. 1. How do you handle someone who intend to rent tons of GPU/ASIC at once to instantly mine all token? 2. Limiting to few hash type is probably better for maintainability sake. IMO 2 hash type, where the former can be mined with ASIC and the latter only can be mined with CPU/GPU should be good enough as starter. [1] https://github.com/ordinals/ord/issues/3739 (https://github.com/ordinals/ord/issues/3739) My idea is that each type of Rune can define a serial list of Hash functions. For example, I can define a PoW Rune , whose HashSequence consists of three different hash algorithms: SHA256, ETHASH, and SCRYPT. The calculation process during Minting would be as follows: Code: hash1 := Sha256(blockHash + Nonce) You also can etch a new Rune that includes 10 different HashTypes in it. Introducing multiple different Hash algorithms can effectively prevent GPU/ASIC. Title: Re: POW Rune Protocol Post by: nutildah on May 10, 2024, 12:29:10 AM Rune protocol is a popular Bitcoin ecological token protocol recently Wrong. Bitcoin is not a token creation platform and you cannot create any tokens inside Bitcoin.That's not what he said, so he's not wrong. People have been using these types of platforms since 2012. The 1st version of Tether was on one such platform, and it worked fine. Nobody pretended it didn't exist because it relied on an external protocol. arbitrary data that means nothing and is worth nothing. If people are willing to pay money for something and there is a market for it, it has a value that exists independently of your world view. Don't blame me, blame the market. Title: Re: POW Rune Protocol Post by: pooya87 on May 10, 2024, 03:28:32 AM That's not what he said, so he's not wrong. People have been using these types of platforms since 2012. The 1st version of Tether was on one such platform, and it worked fine. Nobody pretended it didn't exist because it relied on an external protocol. Tether is an excellent example to prove my point!It is not a "Bitcoin token", it does not exist inside Bitcoin protocol or even inside Bitcoin blockchain. It exists and is enforced inside a separate centralized database controlled by a company that can control the values being transferred, can shut it down, increase/decrease the circulating supply, freeze accounts and take your money, decide to ignore a tx on bitcoin blockchain that is supposed to transfer Tether, etc. So yeah like Tether, the Ordinals junk does not exist in Bitcoin either. It is just arbitrary data that is being stored inside bitcoin blockchain, treating it as cloud storage. Title: Re: POW Rune Protocol Post by: nutildah on May 10, 2024, 04:24:02 AM That's not what he said, so he's not wrong. People have been using these types of platforms since 2012. The 1st version of Tether was on one such platform, and it worked fine. Nobody pretended it didn't exist because it relied on an external protocol. Tether is an excellent example to prove my point!It is not a "Bitcoin token", That's exactly what it is. Its not a matter of opinion -- you're just wrong. I don't know what you get out of trying to trick newbies into believing your falsehoods, other than to further your personal dogma. it does not exist inside Bitcoin protocol or even inside Bitcoin blockchain. It exists and is enforced inside a separate centralized database controlled by a company that can control the values being transferred, can shut it down, increase/decrease the circulating supply, freeze accounts and take your money, decide to ignore a tx on bitcoin blockchain that is supposed to transfer Tether, etc. It uses the bitcoin blockchain as a method of accounting, just like bitcoin does. Everything else you describe is handled at the Omni protocol level. Nobody has ever once suggested bitcoin tokens were a totally inherent part of the bitcoin protocol. That's a red herring argument. So yeah like Tether, the Ordinals junk does not exist in Bitcoin either. It is just arbitrary data that is being stored inside bitcoin blockchain, treating it as cloud storage. You just contradicted yourself here. It does not exist in bitcoin yet its stored in the bitcoin blockchain? Wut? Neither Omni nor Ordinals transactions are considered "confirmed" until the block containing their "arbitrary/junk data" is confirmed. Thus both protocols are at least somewhat intertwined with the bitcoin protocol. Its not really up for discussion so much as a reality, but feel free to continue spreading falsehoods and I'll continue correcting them. Title: Re: POW Rune Protocol Post by: ABCbits on May 10, 2024, 08:57:08 AM I was about to suggest you post this elsewhere, but it seems you already do that[1]. Anyway, i skimmed your idea and i have 2 thoughts. 1. How do you handle someone who intend to rent tons of GPU/ASIC at once to instantly mine all token? 2. Limiting to few hash type is probably better for maintainability sake. IMO 2 hash type, where the former can be mined with ASIC and the latter only can be mined with CPU/GPU should be good enough as starter. [1] https://github.com/ordinals/ord/issues/3739 (https://github.com/ordinals/ord/issues/3739) My idea is that each type of Rune can define a serial list of Hash functions. For example, I can define a PoW Rune , whose HashSequence consists of three different hash algorithms: SHA256, ETHASH, and SCRYPT. The calculation process during Minting would be as follows: Code: hash1 := Sha256(blockHash + Nonce) You also can etch a new Rune that includes 10 different HashTypes in it. Introducing multiple different Hash algorithms can effectively prevent GPU/ASIC. Combining multiple hash algorithm is clever idea. I doubt Rune token will remain popular for long time, so i doubt anyone would bother create specific ASIC. Although personally i have doubt about preventing massive GPU usage. |