Re: Is POW systematically doomed to get a huge monster in its midst?
.. there you go!.. The Mining Subsidy.. It's not clear to me quite how that works.. What Stops people fighting over it - or do they just compete as normal ?
Everyone on the path of greatest cumulative difficulty gets a mining reward proportional to their chosen difficulty. The big departure from bitcoin is there is no competition to mine the best block, since only the sender of the single transaction within the block can 'mine' it.
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How long does it take for a branch to become heavy enough to be considered final ? How do you remove the need for the coordinator that IOTA uses ?
Are you knocking this up and launching ? ..
Are you knocking this up and launching ? ..
How long in real time is hard to quantify, but its very easy to quantify finality - it's simply when enough PoW gets built on top of the transaction in question to make any attack B/E, where 'enough' is equal to the sum of all the block rewards above the transaction.
This doesn't need coordinators because it has a mining incentive.
I'm not planing on taking this any further as a cryptocurrency - simply because it doesn't support lite nodes. No DAG design can support lite nodes without extra centralisation. As @anunymint noted previous, satoshi didn't make any mistakes - blocks are essential for adoption.