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Re: Relaunched Completely
by
alberthendriks
on 13/02/2016, 15:04:42 UTC
I have been thinking about a similar idea, but I failed to solve a certain mathematical issue. Now I'm wondering how you tackle that. Your paper doesn't seem to be so much technical and in github there doesn't seem to be a ledger. In bitcoin mining, a miner wants to find certain data such that sha(data) has a certain number of leading zeros. Now, suppose a miner finds such and tries to get that into the blockchain. Another miner may steal that and say "Hey, I found data and sha(data) has leading zeros". That doesn't work for bitcoin however, because the address that the mined coins are sent to is part of data. If the stealing miner now creates a data2 which is equal to data but with a different address, then sha(data2) generally does not have the leading zeros, so this won't work and the second miner can't steal.

This does not work for user-defined proof-of-work. My question is: How can a miner generate proof of work for a custom question, without another miner stealing that proof of work?

I have another concern. If I understand correctly, the miners execute Python code to solve computational questions. However especially for high-performance computing, this coin may be beat by a coin that does the same with C (which is quicker). What do you think about that?