Published on: 2018-01-04T10:54:31+00:00
Mirelo, the creator of Proof-of-Loss, has made revisions to the algorithm and is seeking feedback. The updated version includes a more explicit definition of transaction rights, an overview of how the algorithm works, and the incorporation of the current block height in the proof-of-loss data. Mirelo has requested feedback through his email or the links provided on the Proof-of-Loss homepage. The revised algorithm also corrects transaction prioritization and inactivity fees, as well as revises the design. Proof-of-Loss is an alternative consensus algorithm that aims to address the deficiencies of both proof-of-work and proof-of-stake. It tackles issues such as mining centralization and the "nothing at stake" problem. In an email to bitcoin-dev, Mirelo acknowledges that previous feedback indicated the article was difficult to comprehend, prompting him to make revisions. The new version clarifies transaction rights and provides an overview of the algorithm's functioning. Additionally, the inclusion of the current block height in the proof-of-loss data simplifies the enforcement of serial chaining without requiring additional block height information. The updated version can be accessed at https://proof-of-loss.money/. The revised Proof-of-Loss algorithm incorporates suggestions received from feedback. It addresses the need for a clearer definition of transaction rights and a comprehensive explanation of the algorithm's operation. The updated version also facilitates serial chaining through the integration of the current block height in the proof-of-loss data. Furthermore, it rectifies transaction prioritization by utilizing fees rather than rights, and includes adjustments to inactivity fees. The new version of the algorithm is available at https://proof-of-loss.money/. Proof-of-Loss presents a novel consensus algorithm that seeks to overcome the limitations of both proof-of-work and proof-of-stake. Its objective is to resolve issues such as the absence of an organic block size limit, risks associated with mining centralization, and the "nothing at stake" problem. A detailed explanation of the algorithm can be found on the proof-of-loss.money website.
Updated on: 2023-08-01T19:30:46.090435+00:00