Author: Jonathan Toomim 2015-12-14 12:50:51
Published on: 2015-12-14T12:50:51+00:00
Adam Back, a well-known Bitcoin developer, believes that companies can improve the decentralization of Bitcoin through better configurations, self-hosted and secured full nodes, and policy control over hashrate. This could include buying a nominal amount of mining equipment or power users doing more of that. Some developers, including Blockstream and its employees, are already involved in mining. Back suggests defining metrics and best practices to measure improvements which will reduce miner's concerns about centralization risk and allow a bigger block faster alongside IBLT & weak block network protocol improvements. An off-topic discussion includes the suggestion to redesign P2Pool to use DAGs for decentralized hashing. P2Pool is considered great except for the fact that the 30 second share times cause significant reward variance for miners, hashrate loss from frequent switching on hardware not designed for it and uneven rewards due to share orphan rates. DAGs can fix all of these issues. Chinese miners would prefer to use P2Pool over their existing pools if performance issues were fixed. Anyone interested in helping with this work should contact Adam Back or Bob McElrath backchannel.
Updated on: 2023-06-11T02:01:08.464523+00:00