Post
Topic
Board Development & Technical Discussion
Merits 2 from 1 user
Re: A Two-Round Proof of Work instead of PoW
by
larry_vw_1955
on 21/11/2021, 03:22:19 UTC
⭐ Merited by Quickseller (2)
The other simple idea is to do like Jakarta’s odd-even traffic policy to limit the number of cars entering Jakarta: the policy stipulates that cars whose license plate ends in an odd number are only allowed to circulate on odd-numbered dates and vice versa. So, like in the case of Jakarta, we don't want every miner to participate in the hash computation all the time. So, we propose a Jakarta PoW (JPoW) where only miners with (hash mod N < K) where, for each block, for each miner with its public key $PublicKey$:
Equation (1):  hash = Hash(Block Head + Public Key)

If (hash mod N < K), then the miner will go for the traditional Bitcoin PoW.  If (hash mod N > K), then the miner will move to the next block without calculating any hash.

Maybe I'm ignorant about how bitcoin mining works but it seems like a miner could just compute the above hash for multiple public keys they own so as to guarantee one of them hashes out to "greater than K".

Quote
Equation(2): hash = Hash(Block Head + sign(Block Head))
The $sign(Block Head)$ can be produced by the miner only. And it is not available to all the miners at the time of the block creation. If a miner wants to participate in a pool, it will need to send its $sign(Block Head)$ to its pool. The pool will still be able to help on the hash calculation.

Once again, if a miner has multiple private keys they'll just compute the above hash for each one.

If i was a miner, that's what I would do. Unless it was computationally too expensive.