Greeting from CloudMint,
I am developing the first
proof-of-assignment cryptocurrency. Proof-of-assignment is an enhanced proof-of-work protocol that doing real useful submitted assignment. It solved the problem of proof-of-work wasting much resource on hashing. Also, it can tackled the problem of reusing assignment which answer is known by a malicious miner. It combines genetic algorithms and proof-of-work protocol. Genetic algorithms will generate many chromosome arbitrarily just like nonce. However, miners are hard to find the chromosome with best fitness value. It is sutible to implement a evolutionary algorithm in distributed computing model. The proposed process of evolutionary algorithms can be classified into map stage and reduce stage. In map stage, each miner generates chromosome and calculate its fitness value as many as possible and then hash. Some blocks will generate when its hash reach the target difficulty. In reduce stage, each miner send its best chromosome to neighbor nodes and forward the top 10 chromosome. Block generated at this stage will contain the top 10 chromosomes. After this stage, the whole network will get top 10 chromosomes and then generate better chromosome consequently. After repeated map reduce round. The network will find an optimal or local-optimal chromosome just like a normal genetic algorithms.
It also have other advantages such as intrinsic value backing and stability of value. Everyone having proof-of-assignment cryptocurrency can buy cloud computation power to execute useful GA work. Assuming after a decade of using this coin, the network size will stable. It provide a portion of cloud computing power in the world. If the fee of submitting assignment rise, it means inflation. the block reward should be decreased. otherwise, the block reward should be increased. Thus, this coin could avoid inflation or deflation.
Unlike NooShare, genetic algorithms is more versatile than MCMS. I will investigate the possibility to enhance the algorithms to genetic programming which can solve almost any problems. I have devised a technique to prevent miner generating bogus fitness value or steal other better chromosomes. The miners submitting assignment which answer is known will only cause losing their money and have no impact on blockchain safety. Multiple Map Reduce rounds are able to tackle much bigger problems.
Above is a rough basic idea. There are still many issues I do not mentions. I will announce the project detail within the end of this year.
