Quote from: BlackHatCoiner on Today at 04:59:23 PM

Would you mind explaining to us how will you achieve this?

I wouldn't mind, in fact, if it wouldn't work, I'd like to know now.

Keep in mind there are multiple permutations for the general idea I'll outline. So I'll try to give concrete examples of the idea's aspects, but they won't be ideal, just easy to imagine.

Imagine every potential miner has a unique representation of identity, which they do (their address or public key). To get a concrete list for illustration purposes we could take the list of all miners who have ever minted a block in the past: now we have our list of miners.

Ok. Once you have that you must decide, who, of this list (which is identical amongst all miners) is allowed to make the next block? well, that can be determined in a deterministically random way: take the lastest blockhash and prepend it to each identity then hash in order to randomize the numeric order of all identities. Then say, which of these identities is now closest to the most recent blockhash? Everyone will come up with the same answer, and everyone will know the answer is essentially randomized - at least it has that beautiful feature of random that it cannot be predicted ahead of time.

That miner can make the next block.

You may say, "Well, the hard part is coming up with a list of current, valid miners that we all agree on." ok. You're right, that's a problem that can be dealt with in many various ways, but my point is that it can be done, and once it is done, as in the example above, taking a less than optimal approach, but a successful one, we can do away with proof of work without needing to replace it with proof of stake.

I'm merely trying to prove that Proof of Random is possible. Can you see anything else I might be missing?

theparadoxvoid

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