Bitcoin Forum
November 24, 2017, 07:07:25 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Proof-of-Loss  (Read 593 times)
mirelo
Sr. Member
****
Offline Offline

Activity: 245


View Profile
February 01, 2017, 11:36:35 AM
 #1

(Since April 04, 2017, the paper has a new version, which in addition to corrections and improvements, includes an introduction with examples.)

An alternative consensus algorithm to both proof-of-work and proof-of-stake, proof-of-loss addresses all their deficiencies, including the lack of an organic block size limit, the risks of mining centralization, and the "nothing at stake" problem:

https://proof-of-loss.money/
1511550445
Hero Member
*
Offline Offline

Posts: 1511550445

View Profile Personal Message (Offline)

Ignore
1511550445
Reply with quote  #2

1511550445
Report to moderator
1511550445
Hero Member
*
Offline Offline

Posts: 1511550445

View Profile Personal Message (Offline)

Ignore
1511550445
Reply with quote  #2

1511550445
Report to moderator
1511550445
Hero Member
*
Offline Offline

Posts: 1511550445

View Profile Personal Message (Offline)

Ignore
1511550445
Reply with quote  #2

1511550445
Report to moderator
Join ICO Now Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511550445
Hero Member
*
Offline Offline

Posts: 1511550445

View Profile Personal Message (Offline)

Ignore
1511550445
Reply with quote  #2

1511550445
Report to moderator
1511550445
Hero Member
*
Offline Offline

Posts: 1511550445

View Profile Personal Message (Offline)

Ignore
1511550445
Reply with quote  #2

1511550445
Report to moderator
mirelo
Sr. Member
****
Offline Offline

Activity: 245


View Profile
February 06, 2017, 09:18:13 PM
 #2

How does proof-of-loss address the “nothing at stake” problem?

  • Transferring money requires transaction rights, which cost fees.
  • Each transaction consumes hence loses exactly as much in rights as its total size in bytes.
  • The spendable outputs of each transaction represent that loss.
  • The odds of chaining a block depend on the loss each of those outputs represents.
  • The reward for chaining each block is transaction rights instead of their price (in fees).
  • This reward is only saleable (for fees) in subsequent blocks.
  • If the same spendable output tries to chain two different blocks at the same height, then its earned rights are inherited by the spendable output chaining a child of either block.

This algorithm forces people to serially rather than parallelly chain blocks (“forcibly serial chaining” in the paper).
mirelo
Sr. Member
****
Offline Offline

Activity: 245


View Profile
February 07, 2017, 09:23:30 PM
 #3

There was an error on page 5 of the paper, which made the block-chaining odds formula confusing. The error was in the text, not in the formula, and consisted on assuming the affected route as always being the rewarded one, which is false. The corrected version is already available at the same URL. The new file's date is 02/07/2017, and downloading it will probably require clearing the browser's cache.
cakravothy
Hero Member
*****
Offline Offline

Activity: 504



View Profile
February 07, 2017, 09:51:11 PM
 #4

what is content youre site mining or can get create trading portofilio
i am visit youre site only PDF content, not automatic calculate about proof of loos


▄█▄
▄██▀██▄
▄██▀███▀██▄
▄██▀███████▀██▄
▄██▀██████▄████▀██▄
▄██▀██████████▄████▀██▄
▄██▀███████████▀██▄████▀██▄
▄██▀███████████████▀██▄████▀██▄
▄██▀███████████████████▀██▄████▀██▄
█████████████████████████████████████
████▄███████████████████▄██▀████▄████
██████▄███████████████▄██▀████▄██████
████████▄███████████▄██▀████▄████████
▀█████████▄██████████▀████▄█████████▀
▀█████████▄██████▀████▄█████████▀
▀█████████▄███████▄█████████▀
▀█████████▄███▄█████████▀
▀█████████▄█████████▀
▀███████████████▀
▀███████████▀
▀███████▀
▀███▀
 


██
██
██
██
██░░░▄█▀▀▀▀▀▀▀█▄
██▀▀▀█░░░░░░░░░▀█▄
██▀▀▀░░░░░░▄▄▄░░░▀█
██░░░░░░░░░█░█░░░░▀█▄
██░░░░░░▄▄▄█░█▄▄▄░░▀█▄
██░░░░░░█░░░░░░░█░░░░█
██░░░░░░▀▀▀█░█▀▀▀░░░░█
██░░░░▄▄▄░░█░█░░░░░░░█
██░░░░█░█░░▀▀▀░░░░░░░█
██░░░░▀▀▀░▄▄▄▄▄░░░░░░▀▌
██▄▄▄▄████░░░░░█░░░░░░█
██░░░░░░░▀█▄░░░░█░░░░░█
██░░░░░░░░░▀█▄░░░█░░░░█
██░░░░░░░░░░░▀█▄░░█░░░█
██░░░░░░░░░░░░░▀█▄░█░█▀
██░░░░░░░░░░░░░░░▀▀▀▀▀
   
   
mirelo
Sr. Member
****
Offline Offline

Activity: 245


View Profile
February 07, 2017, 10:08:08 PM
 #5

what is content youre site mining or can get create trading portofilio
i am visit youre site only PDF content, not automatic calculate about proof of loos

The site does not provide any financial services, just a PDF specifying a consensus algorithm called proof-of-loss.
blackhawk101
Sr. Member
****
Offline Offline

Activity: 308


View Profile
February 08, 2017, 04:33:06 AM
 #6

I LIKE PROOF OF BOUNTY...

YOU SPAM TWETT TO HUNDRED PEOPLE, YOU PROOF

YOU WRITE SHITY TRANSLATION IN CANADIAN, YOU PROOF

YOU TRY MINE ON GOODWILL PC WITH NO KEYBOARD, YOU PROOF

BOUNTY  Cheesy Cheesy Cheesy
mirelo
Sr. Member
****
Offline Offline

Activity: 245


View Profile
February 08, 2017, 10:41:43 AM
 #7

I LIKE PROOF OF BOUNTY...

YOU SPAM TWETT TO HUNDRED PEOPLE, YOU PROOF

YOU WRITE SHITY TRANSLATION IN CANADIAN, YOU PROOF

YOU TRY MINE ON GOODWILL PC WITH NO KEYBOARD, YOU PROOF

BOUNTY  Cheesy Cheesy Cheesy

I am not mining, except for some real feedback (the idea of proof-of-loss is precisely getting rid of mining).
mirelo
Sr. Member
****
Offline Offline

Activity: 245


View Profile
April 05, 2017, 07:19:46 PM
 #8

In addition to corrections and improvements, the paper has now an introduction with examples:

https://proof-of-loss.money/
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!