Post
Topic
Board Development & Technical Discussion
Re: A useful PoW without replacing Nakamoto Consensus
by
ETFbitcoin
on 28/10/2022, 11:32:58 UTC
As ETH left PoW, BTC is the only landmark for decentralization now.
However, the mining pool is still there. Maybe it can be removed?

Rather than removing mining pool, there's effort to make decentralized mining under name P2Pool[1]. However it didn't gain traction (probably because you need to run full node) and it's development stopped on 2018[2]. However, small part of Monero/XMR community embrace the technology[3] with 6.24% hashrate dominance[4].

--snip--

I'm assuming this is going to work as long as a miner has other resources to sell such as storage, and by that metric, things like network traffic and RAM?

If so, then you should know that most ASICs only have a minimal amount of storage, so the EcoPoW cannot be directly used by them without dramatic redesigns of the ASIC. You can't just slap in a hard disk drive without shooting up the average cost of the miner by some margin.

And talking about network traffic, it was one of the reason why miner/pool doesn't support increasing block size either due to lack of bandwidth or orphan due to block propagation time.

[1] http://p2pool.in/
[2] https://github.com/p2pool/p2pool
[3] https://p2pool.io/#pool
[4] https://p2pool.observer/