Post
Topic
Board Development & Technical Discussion
Merits 3 from 1 user
Re: Bitcoin Tic-Tac Coopetition mining
by
iamnotback
on 12/12/2016, 13:26:57 UTC
⭐ Merited by ETFbitcoin (3)
The rewards during this cooperation phase (fees and new coins) will be fairly distributed among the winners of the previous competition phase. Fairly should be interpreted as proportional.  That means that a mining pool that solved 7% of the blocks during the competition phase will get 7% of the total proceedings from every block mined during the competition phase.

Congrats, you've just reinvented essentially Byzcoin, which is incentives incompatible:

https://bitcointalk.org/index.php?topic=1319681.msg16861492#msg16861492

https://github.com/cosmos/cosmos/issues/46#issuecomment-266235696

Who will invent the next NAOD?



NAOD = nonsense algorithm of the day which repeats mistakes already in the prior art, because the author is too uninformed to cite the prior art.