Bitcoin mining idea P.O.S( proof of share ) Part 2

[soysan]

---

Proof of Share (PoS): A Decentralized and Equitable Consensus Mechanism for Mining**

Abstract

The **Proof of Share (PoS)** consensus mechanism introduces a decentralized approach to cryptocurrency mining, aiming to provide equitable rewards for miners of varying hash rates. By redistributing mining power between large and small miners, PoS ensures that all participants receive fair compensation. PoS leverages a decentralized node network for monitoring, re-calibrating, and enforcing penalties, creating a system that is resistant to centralization, manipulation, and attacks, including 51% attacks. This system supports **GPU**, **CPU**, and **ASIC** mining, and offers transparency and decentralization for a more inclusive mining ecosystem.

Introduction

Cryptocurrency mining has become increasingly centralized, with large miners dominating the rewards, making it difficult for smaller miners to compete. **Proof of Share (PoS)** addresses this issue by redistributing hash rate and block rewards to smaller miners, creating a fairer environment. PoS also incorporates **decentralized monitoring**, **cool-down re-calibration**, and **consensus-based enforcement**, ensuring the system remains transparent and resistant to manipulation.

PoS is designed for integration with a wide range of hardware, including **GPU, CPU, and ASIC miners**, making it flexible and inclusive for all miners.
Core Features of Proof of Share

Decentralized Hash Rate Redistribution

At the heart of PoS is the redistribution of hash rates:
- **Large miners**: A portion of their hash rate is automatically shared with smaller miners. For example, a miner operating at 200,000 TH/s may share part of their power with a miner operating at 200 GH/s.
- **Smaller miners**: Those meeting the minimum threshold (12 TH/s) benefit from this redistribution, receiving a boost in their mining power. Smaller miners that don’t meet the threshold can share power with other smaller miners.
 
This creates a balanced system where powerful miners still receive block rewards, but the system favors fairness, preventing domination by a single entity.

Network of Decentralized Nodes

PoS operates through a **decentralized network of nodes** that handle core system operations like monitoring, recalibrating hash rates, and enforcing penalties. This decentralized structure removes the need for a central authority, ensuring transparency, security, and equitable decision-making across the network.

Distributed Monitoring: Each node monitors mining activities within its network, logging data such as miner performance, hash rates, and behavior.
- **Cross-Verification**: The data from each node is cross-verified by other nodes, ensuring consistency and preventing manipulation.
- **Consensus-Based Enforcement**: Decisions regarding penalties, recalibration, and rewards are made through a consensus mechanism across multiple nodes, preventing any single entity from exerting undue influence.

Re-calibration and Cool-down Mechanism

PoS includes a **15-minute cool-down** mechanism to maintain system stability without interrupting mining operations.

- **Bot 1**: Re-calibrates hash rates after the cool-down, reviewing logs from **Bot 2** to detect any malicious behavior. Bot 1 can issue penalties, such as banning bad actors, based on consensus from other nodes.
- **Bot 2**: During the cool-down, Bot 2 continues to monitor and log hash rates, ensuring mining power remains unaffected. If any irregularities are detected, Bot 2 can impose temporary hash rate limits on bad actors, but only Bot 1, with consensus from other nodes, can ban them.

This dual-bot system allows for continuous monitoring and re calibration without affecting the miners’ productivity, ensuring smooth operation and error prevention.

Decentralized Governance and Penalties

The decentralized nature of PoS extends to its governance and penalty system:
- **Stake-Based Voting**: Miners and node operators can stake a portion of their mining power or rewards to participate in the governance of the system. Key decisions, such as policy changes or penalty enforcement, are made through voting, ensuring fairness and transparency.
- **Consensus on Penalties**: Penalties for bad actors, such as banning or reducing hash rates, are not imposed by a single node. Multiple nodes must agree (consensus) before penalties are enforced, ensuring that no single entity can unjustly affect a miner’s earnings or status in the pool.

Security Through Decentralization

PoS enhances security by decentralizing critical functions:
- **Resistant to 51% Attacks**: By redistributing hash rates and enforcing consensus-based penalties, PoS prevents any single miner from gaining control of the network, reducing the risk of 51% attacks.
- **Prevention of Manipulation**: The decentralized node network logs and cross-verifies all mining activity. Any attempt by a miner to manipulate their hash rate is quickly detected, flagged, and acted upon through the consensus mechanism.
- **Fault Tolerance**: Since the system is run by multiple nodes, it is resilient to individual node failures. If one node goes offline, others can continue to operate without affecting the overall network stability.

Transparent Logging and Auditing

Every action taken by a miner or node is logged and stored across multiple nodes. This decentralized ledger allows for full transparency, as the logs are accessible to the entire network and cannot be tampered with by a single party. Regular audits are performed through the decentralized node system, ensuring that miners and nodes adhere to the rules of the system.

Integration with Mining Hardware

The Proof of Share system is designed to integrate seamlessly with various mining hardware:
- **GPU, CPU, and ASIC miners** are all supported.
- Re-calibration and optimization occur consistently across all hardware platforms, ensuring fairness in hash rate distribution regardless of the equipment being used.

This multi-hardware integration enables a wide range of participants to contribute to the network, fostering inclusivity and expanding the pool of miners.

Benefits of PoS and Decentralization

Fair Mining Environment
PoS creates a fairer mining ecosystem by ensuring that smaller miners receive a portion of block rewards. This redistribution encourages broader participation and keeps mining competitive for miners of all sizes.

Decentralization and Transparency
- **No central authority**: All decisions are made through consensus, and no single entity can control the system. Transparency is built into the decentralized nodes and logging system, making all mining activities visible and verifiable.
 
Security and Resistance to Attacks
The decentralized nature of PoS, combined with its consensus mechanism, makes it difficult for bad actors to manipulate the system. The hash rate redistribution and constant re-calibration ensure that the network remains secure and resistant to centralization and attacks.

Conclusion

**Proof of Share (PoS)** introduces a new paradigm in cryptocurrency mining by decentralizing the distribution of mining power and rewards. Through a decentralized node network, PoS ensures that no single miner or authority can control the system, making it fairer, more secure, and transparent. The system’s integration with various mining hardware, combined with its decentralized governance and enforcement, positions PoS as a forward-thinking solution to the challenges of centralized mining.

The PoS system offers a promising future for a **truly decentralized, transparent, and fair mining network** where all participants, regardless of their hash rate, can benefit from mining rewards.


You can join here Discord if your interested to because i want this to be community based project where it developed by all of us plus i would love to hear user inputs i think it will be fun project https://discord.gg/eKzYCJmffE

[vapourminer]

no

[Ambatman]

I saw a thread on Proof of share today if am not mistaken.

And I think it was deleted or archived since I can't find it anymore.
So I doubt there's any reason to create another.

[soysan]

I saw a thread on Proof of share today if am not mistaken.

And I think it was deleted or archived since I can't find it anymore.
So I doubt there's any reason to create another.

just wanted to address some  things i left out off the first thread

[franky1]

again there is already a fair distribution of reward splits given as shares based on hashrate(PPS)

your idea solves nothing

all it will achieve is that instead of a warehouse having 1000 asic units of 230thash each.. they would have the same warehouse with 10,000 units of 23thash each

this would mean those genuine hobby miners with just one or 2 small miners wont have any advantage because they are part of the same competition

you have already been told this..

i hope you know that each device is treated as a separate worker with its own identifier and given its own set of work to work on.
the work is not sent to a factory as a lump and then all asics are treated as one unit. thus you trying to suggest it will decentralise things by splitting up asics into smaller units is incorrect as each asic (big or small) is already treated as differing units whether in same building or spread remotely


i know your real aim here is to buy a small device and hope you can scam a pool into giving you extra bonus sats for not doing extra work. and hoping you will be the only special jesus that gets overpaid.. however if a pool implemented this system everyone would follow its scheme and thus the bonus would dry up because everyone is then trying to get it, thus making it pointless task

just look at history.. we used to have solo mining. then because they seen an advantage of running multiple units, solo mining died out within months of rig farming. the same will happen with your scheme, the advantage for small miner would dry up within months and make it pointless

no matter what hair brained idea you try to promote to hope you can get some special jesus bonus for running a low hashrate device, everyone else will take advantage of it, thus voiding the bonus as everyone gets the same share by doing the same.. thus you get no advantage personally
you wont get to be a special jesus that gets extra for not doing the work.

[soysan]

again there is already a fair distribution of reward splits given as shares based on hashrate(PPS)

your idea solves nothing

all it will achieve is that instead of a warehouse having 1000 asic units of 230thash each.. they would have the same warehouse with 10,000 units of 23thash each

this would mean those genuine hobby miners with just one or 2 small miners wont have any advantage because they are part of the same competition

you have already been told this..

i hope you know that each device is treated as a separate worker with its own identifier and given its own set of work to work on.
the work is not sent to a factory as a lump and then all asics are treated as one unit. thus you trying to suggest it will decentralise things by splitting up asics into smaller units is incorrect as each asic (big or small) is already treated as differing units whether in same building or spread remotely


i know your real aim here is to buy a small device and hope you can scam a pool into giving you extra bonus sats for not doing extra work. and hoping you will be the only special jesus that gets overpaid.. however if a pool implemented this system everyone would follow its scheme and thus the bonus would dry up because everyone is then trying to get it, thus making it pointless task

just look at history.. we used to have solo mining. then because they seen an advantage of running multiple units, solo mining died out within months of rig farming. the same will happen with your scheme, the advantage for small miner would dry up within months and make it pointless

no matter what hair brained idea you try to promote to hope you can get some special jesus bonus for running a low hashrate device, everyone else will take advantage of it, thus voiding the bonus as everyone gets the same share by doing the same.. thus you get no advantage personally
you wont get to be a special jesus that gets extra for not doing the work.

Thank you for your feedback on my Proof of Share proposal. I appreciate the opportunity to clarify some points and demonstrate how my idea addresses key issues in the current mining landscape.
Addressing Existing Fairness in Reward Distribution

While current systems do offer rewards based on hashrate, they often favor larger operations that can afford high-hashrate equipment. Proof of Share aims to level the playing field by encouraging larger miners to share a portion of their resources with smaller miners. This collaborative approach allows smaller participants to compete more effectively and reap greater rewards without needing to invest heavily in expensive equipment.
Competition Among Miners

I understand the concern that my proposal may simply increase the number of smaller mining units. However, Proof of Share fundamentally alters competitive dynamics by fostering cooperation rather than competition. By allowing powerful miners to share their hashing power, we create a supportive environment where small miners can achieve better rewards through collaboration, leading to a more balanced mining ecosystem.
Individual Treatment of Miners

While each mining device is treated as an individual entity, Proof of Share emphasizes the power of collective effort. This system allows small miners to benefit from the resources of larger miners, promoting a network of shared success. The goal is to enhance community engagement and create opportunities for smaller miners to thrive alongside larger entities.
Addressing Potential Diminishing Returns

I recognize the concern that bonuses might diminish as more miners adopt the same strategy. However, Proof of Share promotes a sustainable model by encouraging ongoing collaboration. As small miners band together and form networks, they can adjust their strategies to ensure fair rewards. This adaptability fosters an ecosystem where small miners can continue to benefit over time.
Clarifying My Intentions

I want to assure you that the intent behind Proof of Share is to create a more equitable mining environment, not to exploit it for personal gain. By empowering larger miners to assist smaller ones, we can cultivate a community that values shared success. The focus is on collaboration, mutual support, and promoting a culture that benefits all participants.

I appreciate your insights and hope this response clarifies how Proof of Share addresses the current limitations in the mining space. I believe this concept can lead to a more equitable and inclusive future for all miners, and I’m excited to continue the conversation around it.

[franky1]

Thank you for your feedback on my Proof of Share proposal. I appreciate the opportunity to clarify some points and demonstrate how my idea addresses key issues in the current mining landscape.
Addressing Existing Fairness in Reward Distribution

While current systems do offer rewards based on hashrate, they often favor larger operations that can afford high-hashrate equipment. Proof of Share aims to level the playing field by encouraging larger miners to share a portion of their resources with smaller miners.

current PPS system does not favour larger asics... its based on a share system (emphasis on the S of PPS)

if a user has 10,000 mini asics of 23thash or 1000 full 230thash asics the result is the same.. thus its a fair system

again your hope is that you can compete by doing less work by having say 9000 mini asics (total 207peta) competing against a 1000 full asics(230pta) where by if the reward share total was 460000sat you would want more then 230000sat(more then 50%)

sorry but your system is not fair.
sorry but you dont understand the current fair system
sorry but you dont understand how each asic 'worker' is treated and how the shares are counted
sorry but you are not going to game the system for extra bonus on your measly little single mini asic because if a pool tried your system everyone joining your pool would follow the same scheme

even you saying
"Proof of Share fundamentally alters competitive dynamics by fostering cooperation rather than competition. By allowing powerful miners to share their hashing power, we create a supportive environment where small miners can achieve better rewards through collaboration, leading to a more balanced mining ecosystem."

it shows you dont know how mining works
each device does its own work. and submits its own results. there are not 2 devices working on the same work. otherwise thats just inefficiency

its seems like you dont understand how mining works at all and your whole idea is just hoping you can get a free bonus via other peoples work while you pay little for your device and not do the effort to earn

your system is not fair and if it ever was implemented the bonus would lose its advantage quickly because everyone would do it..
you are not offering a proposal thats new, inciteful or beneficial

[soysan]

Thank you for your feedback on my Proof of Share proposal. I appreciate the opportunity to clarify some points and demonstrate how my idea addresses key issues in the current mining landscape.
Addressing Existing Fairness in Reward Distribution

While current systems do offer rewards based on hashrate, they often favor larger operations that can afford high-hashrate equipment. Proof of Share aims to level the playing field by encouraging larger miners to share a portion of their resources with smaller miners.

current PPS system does not favour larger asics... its based on a share system (emphasis on the S of PPS)

if a user has 10,000 mini asics of 23thash or 1000 full 230thash asics the result is the same.. thus its a fair system

again your hope is that you can compete by doing less work by having say 9000 mini asics (total 207peta) competing against a 1000 full asics(230pta) where by if the reward share total was 460000sat you would want more then 230000sat(more then 50%)

sorry but your system is not fair.
sorry but you dont understand the current fair system
sorry but you dont understand how each asic 'worker' is treated and how the shares are counted
sorry but you are not going to game the system for extra bonus on your measly little single mini asic because if a pool tried your system everyone joining your pool would follow the same scheme

even you saying
"Proof of Share fundamentally alters competitive dynamics by fostering cooperation rather than competition. By allowing powerful miners to share their hashing power, we create a supportive environment where small miners can achieve better rewards through collaboration, leading to a more balanced mining ecosystem."

it shows you dont know how mining works
each device does its own work. and submits its own results. there are not 2 devices working on the same work. otherwise thats just inefficiency

its seems like you dont understand how mining works at all and your whole idea is just hoping you can get a free bonus via other peoples work while you pay little for your device and not do the effort to earn

your system is not fair and if it ever was implemented the bonus would lose its advantage quickly because everyone would do it..
you are not offering a proposal thats new, inciteful or beneficial

Thank you for sharing your thoughts regarding my Proof of Share (PoS) proposal. I appreciate the opportunity to clarify some points and address your concerns about fairness and efficiency within the current mining ecosystem.


    While the current Pay-Per-Share (PPS) system is effective, it often disproportionately rewards larger miners who can deploy significant hashing power. Your assertion that having 10,000 mini ASICs and 1,000 full ASICs yields equal results overlooks how share distribution works in practice. Larger miners typically receive more shares due to their capacity, which can lead to an imbalance that favors their investment, thereby limiting opportunities for smaller miners.


    My proposal for the PoS system aims to create a more equitable environment where smaller miners can leverage the hashing power of larger miners. By allowing a redistribution of a portion of the hashing power from larger miners to smaller ones, we promote collaboration rather than competition. This approach seeks to level the playing field, enabling smaller miners to achieve a fairer share of the rewards that they might not attain independently.


    You raise a valid point about devices working independently; however, the PoS system doesn’t intend for multiple devices to work on the same task simultaneously. Instead, it proposes a model where resources are shared in a manner that optimizes the contributions of all miners, ensuring that those who can contribute do so without feeling like they are at a permanent disadvantage.

    My intention is not to exploit others' work for a free ride but to facilitate a cooperative ecosystem that recognizes the contributions of all participants, regardless of their hardware capabilities. The PoS system is designed to provide incentives for larger miners to support smaller miners, creating a community where everyone benefits rather than just a select few.

 
    While you argue that my proposal is not new or beneficial, it introduces a unique perspective on cooperative mining that has not been widely explored. The idea of pooling resources to enhance collective earning potential offers potential benefits that traditional models have not fully harnessed, leading to a more diverse and resilient mining ecosystem.

   
    You are correct that if a system like PoS were implemented, it would require careful management to ensure fairness and balance. However, any system, including the current PPS model, faces similar challenges. By addressing these concerns proactively, we can design a system that evolves with the changing dynamics of the mining community.

[NotFuzzyWarm]

All you are proposing is simply another altcoin - it would NOT be BTC, just another Piece Of Shit crapcoin. One cannot change the algorithm and say it is the same thing.

If you got the idea from how ETH changed from POW to POS, keep in mind that ETH is owned/ran by a corporation - not a community. As such they can do whatever they damn well please. Even there, a large part the ETH community objected resulting in a fork that became ETH Classic (POW) alongside the POS ETH.

[348Judah]

Now onward we can begin to start seeing many philosophy about the bitcoin mining and it proof of works, which others are now taking time in making a rebrand for and start to call it all manner of names, anyways, i can't blame them, because we are in a free world and if you think you are having something better to offer just as Satoshi did already, then add more to your efforts and give out something important which the people can hold unto, but as for now, all we have with bitcoin mining is PoW.

[soysan]

All you are proposing is simply another altcoin - it would NOT be BTC, just another Piece Of Shit crapcoin. One cannot change the algorithm and say it is the same thing.

If you got the idea from how ETH changed from POW to POS, keep in mind that ETH is owned/ran by a corporation - not a community. As such they can do whatever they damn well please. Even there, a large part the ETH community objected resulting in a fork that became ETH Classic (POW) alongside the POS ETH.

you are right i but however this is just a theory concept  but thanks for you feed back....