Author: vjudeu at gazeta.pl 2021-12-23 11:56:18
Published on: 2021-12-23T11:56:18+00:00
The discussion is centered around a proposal for a new mining scheme that aims to increase payout regularity and reduce on-chain footprint by combining payouts from multiple pools. The proposal also seeks to enable solo mining but relies on mining pools to achieve its goals. However, there are concerns about the potential risks associated with accepting unspendable coins and the need for mining pools. To address these concerns, the proposal suggests using merge mining or a signing scheme, but there is debate about the merits of each approach. One suggestion is to create a separate blockchain with separate headers to keep track of weak blocks, which could potentially be used off-chain. However, questions remain about how many block headers should be stored per one "superblock" and how to distribute block rewards fairly. The proposal also raises questions about the role of Proof of Stake and the value of signing in mining. Some individuals suggest that CTV (CheckTemplateVerify) should focus on one problem for which it's demonstrably the right and best solution instead of trying to be all things to all people.Another aspect of the discussion is Bitcoin pooling, which has always been about variance reduction. The missing piece here would be an ordering of weak blocks to make the window possible. A separate ephemeral blockchain could potentially keep track of which weak blocks have been submitted. However, one issue raised is throwing block rewards into a channel and being able to spend them immediately. It's suggested that reducing the on-chain wait time for spending block rewards might be a better solution than using channels. This sort of pool can hedge not only against fee rates but also against increases in hashrate since historical rate 'carries' into the future as a function of the window.Additionally, windows and reward functions can be defined in myriad ways that could pay less to blocks found in more rapid succession, contributing to the smoothing functionality. In terms of sub-block pooling, this sort of design helps with micro-pools being able to split resources non-custodially in every block as part of the higher order DCFMP. Overall, payment pools are useful by themselves, and most of the complexity in this proposal is relying on tools that will likely see everyday use in any case, DCFMP or no.
Updated on: 2023-06-15T03:31:31.627320+00:00