Are there any coins that limit the usefulness of hashpower?

[nutildah]

Meaning, are there any coins out there that cap the effect that your hashrate has on your likelihood of successfully mining a block?

If the mining race were a bit more even I think this would lead to fairer distribution, as more people would be encouraged to mine and the network would grow stronger.

Has this ever been implemented in a coin design before?

[nutildah]

I guess the answer is "no"?

Wonder why nobody bothered to try this concept out. Is there some key piece of information I'm missing that would disallow for this experiment to happen? The idea seems entirely feasible.

[DeathAndTaxes]

The idea seems entirely feasible.

The idea doesn't seem feasible at all unless you solve for sybill attacks and if you could do that you wouldn't need mining to begin with.

In an anonymous network you don't really think it would be brain dead easy to make a 1 PH/s farm look like 1,000 1TH/s rigs do you (or 1 million 1 GH/s rigs)?

[nutildah]

The idea seems entirely feasible.

The idea doesn't seem feasible at all unless you solve for sybill attacks and if you could do that you wouldn't need mining to begin with.

In an anonymous network you don't really think it would be brain dead easy to make a 1 PH/s farm look like 1,000 1TH/s rigs do you (or 1 million 1 GH/s rigs)?

I don't know, that's why I asked if there was information I was missing out on. It would certainly make it harder for a miner to dominate a coin.

So why not solve for Sybil attacks? And how do you mean you wouldn't need mining? If you can prevent somebody from running a thousand miners with the same IP address, how does that mean you don't need mining?

Everything can't be done, until it can.

[MicroGuy]

Meaning, are there any coins out there that cap the effect that your hashrate has on your likelihood of successfully mining a block?

If the mining race were a bit more even I think this would lead to fairer distribution, as more people would be encouraged to mine and the network would grow stronger.

Has this ever been implemented in a coin design before?

A similar effect can be found in Goldcoin's 51% defense system.

Applying large amounts of hash power all at once will trigger the defense resulting in orphaned blocks.

[nutildah]

Has this ever been implemented in a coin design before?

A similar effect can be found in Goldcoin's 51% defense system.

Applying large amounts of hash power all at once will trigger the defense resulting in orphaned blocks.

Thats interesting, thanks I'll take a look into it. Sounds more or less like they were trying to accomplish a similar goal.

[boxuser]

never heard of anything like that yet, but thinking about that its kinda pointless

[nutildah]

never heard of anything like that yet, but thinking about that its kinda pointless

why?