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Author Topic: A More Energy Efficient Mining System  (Read 1826 times)
shorena
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July 28, 2015, 06:15:36 PM
 #21

How do you detect "spam TX" that are just put in the block by the miners to reach the maximum amount possible, e.g. send coins from miner A to miner A's 2nd (3rd...) address?
Why would a miner do that when there is nothing to be gained from it? There are plenty of natural transactions to process for fees?

Because your proposed rules make it beneficial to have a full block and there are times when there are not enough transactions.

Quote from: shorena
How do you detect whether a miner is actualy creating only a single hash and thus relying on luck or secretly creates many hashes in order to have a higher chance to win?
Only one hash would be allowed from every node so, you'd need a separate node for every hash you want to play. If the network uses IP addresses to distinguish nodes, how many IP addresses do you think it would take to increase your odds of winning when the odds of winning are 2256-1 to 1?
Answer: 1000x more than exist.

Why would the odds be 2256-1 to 1? You said lowest hash not a specific.

Quote from: shorena
But I have my custom wallet, that does what I want. How do you make sure that my cheating attemt is detected by the network?
This has already been addressed by other parts of the Bitcoin protocol. It has nothing to do with the change to the mining process I'm proposing here.

Yes it does. The network as it currently is does not know how many hashes a miners has created and it does not need to care, because due to the difficulty rules its enforced that finding the hash is hard.


Quote from: shorena
For now you have not even explained how you want to make sure your system is not cheated.
You haven't yet explained how you're planning to cheat it.

I have several times. I can just calculate more than a single hash, yet you just ignore this and answer that your version of the client will magically enforce this.

Quote from: shorena
Its more expensive to set up several million nodes than it is to calculate the same amount of hashes.
That's good, it discourages this behavior. The potential return from winnings doesn't justify the investment.

Correct, I could just cheat instead of following your rules.

Quote from: shorena
How do you make the distinction between 1st and 57845784th hash?
Math.

I think we are done here.
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July 28, 2015, 07:57:01 PM
 #22

Quote from: shorena
How do you detect whether a miner is actualy creating only a single hash and thus relying on luck or secretly creates many hashes in order to have a higher chance to win?
Only one hash would be allowed from every node so, you'd need a separate node for every hash you want to play. If the network uses IP addresses to distinguish nodes, how many IP addresses do you think it would take to increase your odds of winning when the odds of winning are 2256-1 to 1?
Answer: 1000x more than exist.
Having two nodes would double my chances, and double my income. Also, the odds are not 1 in 2256-1 because you wrote that the lowest hash wins. If there are 3 miners, then 1 of the three always wins -- the odds are 1/3 (unless I have two nodes, in which case my odds are 2/3).
Oops- you're right about that- my bad. So how do I address this issue? hmmm

Miners would have to pay a fee per block equal to some fraction of the block reward. If we decide to tolerate 'cheaters' playing up 1000 hashes per block, then the mining fee must be 0.1% of the block reward. If we decide to tolerate only 100 hashes per block, then the mining fee must be 1% of the block reward. But if we want to limit all miners to just one hash per block, the mining fee must always be half of the block reward. To keep the mining fee low, the block reward needs to be low. The block reward should change dynamically in direct proportion to mining participation in order to maintain a target level of participation.
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