Post
Topic
Board Announcements (Altcoins)
Re: BITCREDIT | UPDATE NOW 26/08/15 | BID ON THE BLOCKCHAIN | ESCROW
by
bitcreditscc
on 12/09/2015, 18:09:50 UTC

*image

..... " I am trying to formulate a form of dynamic consensus over block produced by BNs...

A node has to be a BN....and only eligible to produce 1 in every 5 blocks if the Bn count is higher than 5.....all the while the look up must be inexpensive (computationally) "
This is an idea out of left field but.. could the banknode winner selection process be tweaked to secure the network by itself? Burst does hard drive mining by storing nonce in the prefix of storage space available. Could we use the bank node pub key as a closest to zero match that currently finds the next banknote to get rewarded to just statically know which one would get the next block then run a hash include TX and the network could all easily see and compare from the list of active banknotes that the winner was active for x ammt of time, and had not solved a block in a certain period of time. In a system like this you could set an almost exact black time. And most nodes would already know the result since they can see all the banknkdes. Anyways just a completely random idea. You could still pay into the bid system reserve as normal.

*edit please excuse any misuse of tech jargon.

Highly interesting take on how to deal with this. We need to come up with a dynamic structure that determines how long until a BN until a BN must produce at least one block......without invalidating valid blocks........Your node may report a BN count of 67 and mine could report a total of 68.... if the extra node produces a block your node will reject it even though it's perfectly valid.

Need to design it in a way that each node can even try verify a block produced by a node it does not reflect as a BN yet....maybe add an extra field to blocks...BN signs with key of 50K input....and points to input location.

Meanwhile, eyes are slowly being opened

A common complaint of DPoS is that it can't be decentralized because it has the word "delegated" in the title, yet anyone mining with a pool in PoW is doing the exact same thing.  Satoshi made the claim of one CPU, one vote, yet you're delegating your vote to the pool owner in PoW pool mining.  Some argue you are not delegating in PoW because you can solo mine.  While this statement would be technically correct, the miniscule portion of the Bitcoin userbase able to do so makes it functionally infeasible.  It's only a question of what percent of the hash rate is being delegated at any given time.