Post
Topic
Board Development & Technical Discussion
Re: Replacement for POW
by
NotATether
on 09/12/2022, 07:47:56 UTC
As each block is completed, select one node, maybe at random, and the owner of the node gets 0.38 BTC.  Take that node off the list to received block rewards for some period of time to allow for sharing the wealth.

After the last BTC has been distributed, profits are derived from the work needed to certify each block.  Each of the, for example, first 32 nodes that are involved in the original certification of a block gets some percentage of the fees for that block.  Maybe provide a sliding scale based upon the time the node has been active.  Those on online for longer periods get a bit more.  When a node receives a transaction fee, maybe take it off the distribution list for some period of time, share the wealth.

This is almost like Proof of Stake except it rewards nodes for doing no work at all and without locking up an incentive. In other words, block mining abuse will be rampant with such a model.