Published on: 2022-01-18T18:15:15+00:00
The discussion revolves around proposals for improving Bitcoin mining pools. One proposal suggests creating a separate blockchain called "superblocks" that would progress linearly and keep block headers instead of transactions. The idea is to collect uncollected blocks into the next superblock and reward the block creator based on the number of blocks included. Various approaches to defining windows and reward functions are discussed, including paying less for blocks found in rapid succession. Concerns have been raised about the feasibility and security of this design, as well as the issue of unspendable block rewards.Other suggestions include using weak blocks and an ephemeral blockchain or utilizing multisig and leaf nodes to enable smaller miners to participate without centralized control. These proposals aim to increase payout regularity and reduce on-chain footprint through combined payouts or non-custodial mining pools. However, questions remain about the distribution of block rewards and data availability.The role of Proof of Stake and the value of signing in mining are also discussed. Some participants suggest focusing on specific problems where CheckTemplateVerify (CTV) is the best solution, rather than trying to cover all aspects. Safety concerns are raised about throwing block rewards into a channel for immediate spending, and there is a need to reduce on-chain wait time for spending block rewards.The Braidpool project is mentioned, which proposes a separate blockchain with superblocks storing only block headers. There are public forums and mailing lists available for people to join, and the creators welcome additional contributors. However, concerns have been expressed about the design, suggesting a focus on one specific problem that CTV can effectively solve.The debate also includes discussions on the definition of a pool, reducing profit variance, resource management, and the goals of payout functions for solo miners and mining pools. There are suggestions for simplifying verification of coinbase rewards, assigning difficulty levels to shares, and using longer windows of difficulty periods to hedge against changes in hashrate.Overall, the discussion showcases ongoing debates among Bitcoin developers regarding the efficiency and security of mining pools. While there are differing opinions and concerns about the proposed solutions, there is a recognition of the potential benefits in exploring different designs and techniques to address issues related to payout regularity, on-chain footprint, and unspendable block rewards.
Updated on: 2023-08-02T05:14:21.409949+00:00