I can't really comment on the difficulty retargeting issue, since I don't understand how it works and why we need "regular" poW in the first place, but I guess you guys know why.
Here is what seems to be the scenario(spelled out for idiots like me):
- Jobs are submitted to the Elastic network, miners start working on them. Lots of mining power on the network.
- The jobs are done, no new jobs are submitted. Miners start to lose interest, because there are no bounties, so all they get are some measly transaction fees. They point their miners towards another currency, since there, they can actually make some dough.
- This lets us with two possible solutions:
-- We find ways to keep the miners on the chain
-- We somehow manage to create an "on demand" system,
where miners can turn away from the chain and are
alerted when jobs are being subbmitted.
Regarding the first solution:
This is probably the most idiotic idea I had yet (regarding Elastic, I mean. I have a lot of idiotic ideas

), but I'll write it anyway:
- You could create a "negative interest" system. Wallets that are offline, lose parts of their XEL over time.
- The XEL lost this way is paid out to miners, keeping them on the chain.
Regarding the second solution:
If we would use the reputation system, I was writing about (not saying that we should, or that we shouldn't, just putting it out there!), at least some miners are known entities. If there is a way for them to create a benchmark of their hashing power, you could set up a system that would look like this:
- You have a bunch of registered miners whose hashing power is known, or at least the ballpark.
- When there are no jobs on the chain, the PoW part goes into "hibernation" but remembers the hashingpower of the registerd miners. These miners can turn their power towards something else.
- When a job is submitted, an alert is sent out. The miners have a certain timeframe to respond, saying that they are willing to work on the submitted jobs. This way, the estimated hashing power and difficulty gets recalculated, based on the submitted benchmarks.
- A possible way to get those benchmarks could be to observe the miners when they mine other currencies, possibly by observing other blockchains. They could sign found blocks on other blockchains in a way, that Elastic recognises them as miners that are willing to potentially mine XEL, so that Elastic could estimate its hashing power based on difficulty and number of found signed blocks. Sadly, this wouldn't work with mining pools, where only a portion of the pool would want to mine XEL. Hmmm…
This idea obviously has some flaws, i.e. what happens when the power of a miner changes dramatically.
Any comments?
By the way, what happens if, let's say 10 jobs are submitted at the same time? Are they all being worked on at the same time, do miners decide which jobs they work on, or is there a qeue, with one job after another?