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1  Bitcoin / Development & Technical Discussion / Does the block hash function need to be cryptographically secure? on: January 15, 2024, 07:18:54 PM
Cryptographically secure hash functions are irreversible so that ciphertexts can't be decrypted by running the function in reverse. But none of the data in a block is encrypted. The block hash is just a checksum, so it shouldn't need to be cryptographically secure. Am I wrong?
2  Bitcoin / Development & Technical Discussion / please delete on: December 31, 2023, 07:42:16 PM
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3  Bitcoin / Development & Technical Discussion / please delete on: December 15, 2023, 04:19:42 PM
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4  Bitcoin / Development & Technical Discussion / please delete on: July 31, 2023, 09:12:21 PM
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5  Alternate cryptocurrencies / Altcoin Discussion / please delete on: July 18, 2023, 01:39:36 PM
please delete
6  Bitcoin / Development & Technical Discussion / please delete on: October 31, 2022, 07:32:15 PM
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7  Bitcoin / Development & Technical Discussion / please delete on: October 20, 2022, 09:07:04 AM
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8  Bitcoin / Development & Technical Discussion / please delete on: May 23, 2022, 08:34:18 PM
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9  Bitcoin / Mining / please delete on: April 13, 2022, 01:28:25 AM
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10  Bitcoin / Development & Technical Discussion / please delete on: April 12, 2022, 06:52:20 PM
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11  Economy / Economics / How to Improve Mining Efficiency on: April 12, 2022, 06:32:04 PM
The main obstacle for adoption right now is energy consumption and waste.  The main source of waste in Bitcoin is the competitive aspect of it's POW protocol.  Miners compete by doing the same work in parallel but it's only the miners who win whose work contributes to the security of the blockchain, the rest is wasted.

After examining the BIPs on github, the only one that even attempts to address efficiency is BIP 52 and it's about using optical chips.

The most straightforward way to improve the efficiency of Bitcoin is to eliminate competition and this can be done in one of three ways:

1. Focus all mining work on the same block by getting all miners to work for the same pool, or create a super pool that consolidates the work of all mining pools.  This would distribute block rewards most fairly but it would reduce energy consumption the least as the minimum work required for a share of the block rewards would only discourage the slowest miners from participating.  This can be adjusted though.

2. Employ some kind of dice roll or rock-paper-scissor scheme to select a miner at random who then does the actual work alone.  This would greatly reduce energy consumption but it would not distribute block rewards as fairly as solution #1.  Hash power would no longer effect a miner's odds of winning so this would eliminate mining pools.

3. Yet another idea is to have nodes announce their intent to mine (register) and wait their turn in a queue.  This would reduce energy consumption as much as solution #2 and it would distribute block rewards more fairly over time and it would eliminate mining pools.
12  Other / Meta / please delete on: February 01, 2022, 05:20:25 PM
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13  Bitcoin / Development & Technical Discussion / please delete on: January 18, 2022, 11:26:31 PM
bad ideas
14  Alternate cryptocurrencies / Altcoin Discussion / An idea for yet another altcoin. on: December 20, 2021, 08:13:46 AM
A work in progress.
15  Alternate cryptocurrencies / Announcements (Altcoins) / please delete on: December 10, 2021, 05:46:37 PM
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16  Bitcoin / Development & Technical Discussion / please delete on: November 10, 2021, 05:03:51 AM
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17  Bitcoin / Development & Technical Discussion / please delete on: October 28, 2021, 05:09:20 PM
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18  Bitcoin / Development & Technical Discussion / please delete on: October 23, 2021, 07:00:26 PM
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19  Alternate cryptocurrencies / Altcoin Discussion / please delete on: October 23, 2021, 01:12:20 AM
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20  Bitcoin / Bitcoin Discussion / please delete on: March 01, 2021, 06:18:31 PM
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