Not your Node, Not your Chain
Announcement:Dear miners,
As you may know the ergo is a pool-resistant coin with a bright future. Simply, it is pool-resistant since you need the private key to mine. Therefore, a traditional pool cannot be built for ergo without risking the ownership of miner's or pool's wallets by disclosing the private keys. The miner distribution of ergo shows that no miner has more that 2 percent of the hashrate and about 97% of the hashrate is from somehow small miners. This is a very good news for the blockchain economy and whom against the pool's ability to censor transactions and dictate their intention to small workers. The only problem is that small miners have very low incentive to join the ergo mining due to lack of competition and unsteady payouts.
Btw, here we are, the
ergopool.io is the first mining pool for
ergoplatform. ergopool is not a traditional pool and is based on the state-of-the-art researches on
bypassing non-outsourceable PoW puzzles. In ergopool we wish to make ergo mining even more distributed and tolerant to censorship and attack.
ergopool is based on collateralized smart contract and every miner has THEIR OWN NODE. Miners are working independently as they wish without any one telling them what to mine and what to do.
each miner should have some ergs as collateral IN THEIR OWN WALLET to join the pool and they should pay this collateral in their candidate block. If a miner does not find a solution for that block nothing happens, but as soon as a miner finds a solution for his block, two things occurs atomically in the same block; collecting the reward by the miner and paying the collateral to the pool.
In ergopool we are not able to force any miner to do anything and the only thing we can check is that the miner included the collateral payment to the pool in his candidate block. We cannot even choose which block/fork/branch a miner should continue. we account for all shares for all candidate blocks even in branches or any previous parent block. Btw, after a time window, we check again to see if the shares are sent for a candidate block which its parent is on the longest chain.
ergopool will be open sourced in the near future and we wish that anybody can build their own pool for ergo mining.
