Author: John Hardy 2017-02-07 11:27:55
Published on: 2017-02-07T11:27:55+00:00
Proof of Nodework (PoNW) is a proposed method to reward individual nodes that keep a full copy of and verify the blockchain. The system requires a new separate area of block space, a nodeblock, which is committed to a block like SegWit. In order to prevent Sybil, a node must register a Bitcoin address by submitting an addNode transaction with a security deposit. Once the addNode transaction has been added, the node can begin the PoNW process. The PoNW method could be as simple as creating a Merkle tree from the randomly generated point on the blockchain, but a method that is CPU/Memory heavy and less likely to be replaced by dedicated hardware like ASICs would be better. The data processed during PoNW should also be mixed with data from the latest block so that it cannot be computed in advance. During each epoch of 2016 blocks, there will be an extended window for PoNW transactions to be added to nodeblocks to limit minor censorship. The average PoNW that a node performed in its previous x nodeblocks will be used to determine the target PoNW for the node to verify, and this will randomly be a large number of smaller PoNW transactions or a smaller number of large PoNW. Nodes will also be punished if they broadcast more than one signed transaction per block.At the end of an epoch, after a wait period for any delayed or censored transactions or challenges to be included and settled up, the process of calculating the reward each node is due can begin. The question of where and how much the reward comes from is a different one. It could come from the existing miner reward, or a special new tx donation fee for nodes. If there was some way for users to ‘donate’ to the reward pool for nodes, this would increase the incentive for additional nodes to participate on the network in the event of centralisation.
Updated on: 2023-05-20T00:55:47.205474+00:00