Author: Erik Aronesty 2017-04-06 02:43:18
Published on: 2017-04-06T02:43:18+00:00
In an email to bitcoin-dev, Mirelo explains that after receiving feedback on Proof-of-Loss, he realized the article was hard to understand. As a result, he has made revisions to include a more explicit definition of transaction rights and an overview of how the algorithm works. Additionally, he has included the current block height in the proof-of-loss data, making serial chaining easier to enforce without needing additional block height information. Revisions were also made to transaction prioritization, which now uses fees instead of rights, and inactivity fees. The new version of the text is available at https://proof-of-loss.money/. Proof-of-Loss is an alternative consensus algorithm to both proof-of-work and proof-of-stake, addressing deficiencies such as the lack of an organic block size limit, risks of mining centralization, and the "nothing at stake" problem.
Updated on: 2023-06-11T21:25:04.903751+00:00