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Author Topic: Simple auction payout  (Read 1748 times)
hashcoin
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July 03, 2011, 04:44:07 AM
 #1

I couldn't find this with a search.  This seems like the most natural payout to me and is also totally transparent:

Pool is basically a giant scoreboard of N lowest hashes for submitted shares.  When a block is found, reward is split equally between N people on the scoreboard at the time block is solved.

In a sense this is just a generalization of bitcoin's own payout system (i.e., N=1 is solo mining).  N would be set as large as reasonably possible to still make it not totally trivial to get on the scoreboard, but still guaranteed with a GPU.  (Say, N=10000 should do the trick).
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BtcNmcMiner
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July 04, 2011, 06:10:29 AM
 #2

What?

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July 04, 2011, 06:27:52 PM
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what part isn't clear?  When you submit a share the hash is checked and you are put into an appropriate place in the scoreboard.
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July 04, 2011, 08:06:54 PM
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Are you saying that everyone who submits any number of shares gets paid evenly, or that everyone gets paid a percentage of the 50 Btc generated based on the percentage of shares submitted. If the latter, that is exactly how pool payouts work.  Huh

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hashcoin
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July 05, 2011, 04:12:29 AM
 #5

neither.  I'm not sure how to make it more clear, but I'll try once more.

Here is how PPS mining works:
The pool gives you some data.
You repeatedly hash data  + nonce to generate a "share".   You submit the "share".   If the share is "good", meaning hash is under some fixed value, you get a credit for it.  Block is then split up among all credits.

Here is how auction payout works:
Same as before, except a share is "good" if it is one of the 10,000 best shares received (ranked by hash, with lower better).

The pool maintains a scoreboard of the 10,000 shares submitted with lowest hash value.  So your share is only worth anything if it's one of the 10,000 best shares submitted.  Certainly you can have multiple spots on the scoreboard, by generating multiple of the 10,000 best shares.
This scheme is immune to any kind of gaming, because, well, it is just a simple generalization of bitcoin's own payout model.
1bitc0inplz
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July 05, 2011, 04:38:57 AM
 #6

Basically you're saying the closer your hash is to target the more your share is worth?

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hashcoin
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July 05, 2011, 06:37:42 AM
 #7

no.  All within the top 10,000 get the same 1/10,000 of the block reward.


(making lower shares worth more would be reasonable if say, getting "way below the target" on a block meant the reward was bigger.  But if the reward for a block is 50btc regardless of difficulty, then the reward for one of the top 10,000 shares is 1/10000 of the block reward, regardless of how high you are on the board)
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July 06, 2011, 02:36:02 PM
 #8

This seems to require a central server to prevent cheating.
Also, are scores kept between rounds? If so, only the previous winners would continue to receive benefits.

Would require immense bandwidth in a p2p network to start and distribute this if any sort of verification were used.

Each round a new check must be done, unless you're letting miners submit stales to stay on chart.

Doesn't seem practical for p2p environment.

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July 06, 2011, 02:52:19 PM
 #9

scores not kept between rounds.

To do this decentalized, a distributed version of the scoreboard needs to be maintained, mapping score to address.
A miner would mine on a TX paying out to the top N-1 people on the scoreboard, NOT the bottom person, and himself.
If he gets a hash good enough to bump off the N'th guy, he then sends this block to his peers, who put him in the appropriate place on their scoreboard.
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