Re: [ANN] [VBK] [PoP/PoW] VeriBlock: Securing the World's Blockchains Using Bitcoin!
Hi Dev! tell me what I'm doing wrong?
Hi albanes, you have to type "connect 127.0.0.1:10500" first to connect to your local instance of NodeCore, and then you can run "getinfo" and other commands (which can be viewed by typing "help" after you connect).
Interesting Project and can you explain a bit more about how PoP is going to works?
Since this is my first time heard about PoP
Since this is my first time heard about PoP
Here is a brief example explanation from earlier, using 'ArisCoin' (a fictitious coin) as a blockchain secured using PoP directly to Bitcoin (simplified, not benefitting from VeriBlock's offer of improved PoW security in an easier-to-implement package in a more cost-effective manner):
Quote
Say you launch ArisCoin tomorrow (for simplicity, say it's a PoW blockchain with a 10 minute blocktime), and you use PoP to secure to Bitcoin (directly, in the simplified case).
Your PoW miners bundle transactions on the network into blocks and mine them using traditional PoW, and your PoP miners take the latest 'fingerprint' of ArisCoin (which in the case of a PoW blockchain is the most recent block header), and they publish this block header to Bitcoin (paying a Bitcoin transaction fee). Let's say your total block reward is worth $100 at current market value, and you dedicate 20% of the block reward to PoP miners. This means that, every block, your network pays $20 to PoP miners collectively. Similar to how PoW provides a total bounty and many people compete for slices of that reward, so too do PoP miners compete for the total PoP miner reward (and PoP mining can be done in a pool similar to PoW, so we can conclude that the variability risk can be dramatically reduced). Simplistically, if a high-priority Bitcoin transaction costs $4, we would expect slightly less than 5 transactions on average per block of ArisCoin to Bitcoin on behalf of PoP miners (there are more complexities at play here too, which we'll table for brevity).
PoP miners, to receive their reward, must complete a full cycle of PoP mining: they must publish the fingerprint of ArisCoin to Bitcoin, and then (after waiting for a period of time) must construct a proof that they successfully published this data to Bitcoin (Bitcoin transaction including the data, Merkle path to the Merkle root of the containing block, the header of the containing block, and (if required), additional contextual Bitcoin block headers to link the block the PoP miner published data in to the latest Bitcoin block known about by ArisCoin from previous PoP publication data.
Once a PoP miner completes this full cycle, the ArisCoin PoW miners can include the PoP miner's proof-of-publication in their blocks (and can be incentivized to do so in a variety of means). Once these proof-of-publications are included in the blockchain, they can be referenced in the event that a blockchain fork is presented to the network, and the fork resolution algorithm for ArisCoin determines which version of the blockchain's history is valid based on which one has the highest PoP score (which is calculated as a combined metric of the relative timeliness and volume of publications of each fork's blocks in Bitcoin itself). As a result, anyone wanting to make a fork which will be accepted as valid (they can perform a valid double-spend attack) must publish data to Bitcoin in a timely manner (in-step with the building of the "legitimate" or "original" history), thereby announcing their attack to the world, and allowing merchants/exchanges/users to respond by simply waiting until they can see with mathematical certainty that the state of the forking blockchain has been abandoned according to its presence in the Bitcoin blockchain (in other words, its presence in Bitcoin is not sufficient for it to be accepted as a more valid history than the history the exchange/merchant/user is currently aware of).
Your PoW miners bundle transactions on the network into blocks and mine them using traditional PoW, and your PoP miners take the latest 'fingerprint' of ArisCoin (which in the case of a PoW blockchain is the most recent block header), and they publish this block header to Bitcoin (paying a Bitcoin transaction fee). Let's say your total block reward is worth $100 at current market value, and you dedicate 20% of the block reward to PoP miners. This means that, every block, your network pays $20 to PoP miners collectively. Similar to how PoW provides a total bounty and many people compete for slices of that reward, so too do PoP miners compete for the total PoP miner reward (and PoP mining can be done in a pool similar to PoW, so we can conclude that the variability risk can be dramatically reduced). Simplistically, if a high-priority Bitcoin transaction costs $4, we would expect slightly less than 5 transactions on average per block of ArisCoin to Bitcoin on behalf of PoP miners (there are more complexities at play here too, which we'll table for brevity).
PoP miners, to receive their reward, must complete a full cycle of PoP mining: they must publish the fingerprint of ArisCoin to Bitcoin, and then (after waiting for a period of time) must construct a proof that they successfully published this data to Bitcoin (Bitcoin transaction including the data, Merkle path to the Merkle root of the containing block, the header of the containing block, and (if required), additional contextual Bitcoin block headers to link the block the PoP miner published data in to the latest Bitcoin block known about by ArisCoin from previous PoP publication data.
Once a PoP miner completes this full cycle, the ArisCoin PoW miners can include the PoP miner's proof-of-publication in their blocks (and can be incentivized to do so in a variety of means). Once these proof-of-publications are included in the blockchain, they can be referenced in the event that a blockchain fork is presented to the network, and the fork resolution algorithm for ArisCoin determines which version of the blockchain's history is valid based on which one has the highest PoP score (which is calculated as a combined metric of the relative timeliness and volume of publications of each fork's blocks in Bitcoin itself). As a result, anyone wanting to make a fork which will be accepted as valid (they can perform a valid double-spend attack) must publish data to Bitcoin in a timely manner (in-step with the building of the "legitimate" or "original" history), thereby announcing their attack to the world, and allowing merchants/exchanges/users to respond by simply waiting until they can see with mathematical certainty that the state of the forking blockchain has been abandoned according to its presence in the Bitcoin blockchain (in other words, its presence in Bitcoin is not sufficient for it to be accepted as a more valid history than the history the exchange/merchant/user is currently aware of).
How do we mine this?
They answered this question in the original post.
Cpu/gpu along with the VeriBlock Core Software (NodeCore, the CLI, and the PoW Miner).
Modified blake2b algo (vblake2b)
Testnet ONLY right now, mainnet in the future.
So asic. No point to mine with cpu/gpu...
It is possible for an ASIC to be created for vBlake, but at the moment (and on launch of Mainnet, and for a while thereafter), the only way to mine will be with a GPU (or a CPU at lower efficiency), as no ASIC will have been created yet.
How do we mine this?
They answered this question in the original post.
Cpu/gpu along with the VeriBlock Core Software (NodeCore, the CLI, and the PoW Miner).
Modified blake2b algo (vblake2b)
Testnet ONLY right now, mainnet in the future.
So asic. No point to mine with cpu/gpu...
Will the blake2b asics work on this modified version of the algo?
No, new ASICs will need to be created, although a lot of the preliminary work in designing the BLAKE2b ASICs may be able to be reused in creating vBlake ASIC chips.
Algorithm: ECDSA (secp256k1 curve)
Is it possible to mine with GPU?
it's first time to hear New algorithm..
The mining algorithm itself is vBlake (which is also new, and will be mineable with GPUs once we launch our mainnet). ECDSA is our signature algorithm, which is not related to PoW or PoP mining.