Post
Topic
Board Announcements (Altcoins)
Re: [ANN][2POW] Luck - A new consensus algorithm to eliminate large mining pools
by
Sherlock.Holmes
on 22/08/2020, 04:32:52 UTC
I see your point of view: the nodes.

Here is mine: the coins.

Maybe you fixed the node problem pools have, but you have a new problem - all the coins goes now to a single owner, instead of multiple owners. This is why I've said is worst than traditional PoW, instead of a pool getting 50% of mined coins (which will be spread among all individual miners) now we have 1 miner getting 50% of the coins, but we are pool free.

And not to be negligible, with this approach the scenario can go like this: Let's say I mine solo (because there are no pools involved) but since is not profitable for me because 1 single miner gets 50% of all block, I leave. So will do all the small miners, if is not profitable anymore and this will lead him to mine more and more blocks until probably he will mine 100% of the blocks.

Now tell me, where is the decentralization?

The reason why someone may deploy 50% of the nodes now is because currently not many people have participated in this project. If enough people come in to participate in fair competition, decentralization is inevitable. Maybe there are hundreds of large miners, and they all deploy a large number of machines, according to the daily output, they may get the same amount of coins. But there are only a few large-scale mining pools in Bitcoin network.