Proof of Nodework (PoNW) - a method to trustlessly reward nodes for storing and verifying the blockchain

Summary:

The Proof of Nodework (PoNW) method is a topic of discussion in an email thread on the bitcoin-dev mailing list. This method rewards individual nodes for storing and verifying the blockchain, but it requires measures to prevent Sybil attacks. To register a Bitcoin address, a node must submit an addNode transaction with a security deposit to prevent cheating. The registered address will be hashed with the block header of the block the node wants to work on, which will determine exactly where within the blockchain to begin the PoNW. During each epoch of 2016 blocks, there will be an extended window for PoNW transactions to be added to nodeblocks to limit minor censorship. If a nodeWorkComplete transaction contains any incorrect information in an attempt to cheat the validation process, a challenge transaction can be created.This begins a refereeing process where other nodes check the challenge and vote whether it is to be upheld or not. The losing node is punished by losing their accrued PoNW for that epoch and a percentage of their security deposit. At the end of an epoch, the process of calculating the reward each node is due can begin. This will then be paid in a regular block, and means for all the data involved in PoNW, the only permanent mark it makes on the main blockchain is for a transaction that pays all addresses their share of the reward at the end of epoch.The reward for nodes participating could come from the existing miner reward or a special new tx donation fee for nodes. The email also discusses RSK platform which has a similar system, but very efficient and already prepared to do something similar to this. They set apart 1% of the block reward to automatically reward full nodes. Two systems are being evaluated based on PoUBS (Proof of Unique Blockchain Storage) and more traditional proof of retrievability, but it requires some ASIC-resistance assumptions.In addition to the cryptocurrency development and security discussions, the context provides a list of links. The links include repositories for simplified Zcash and Bitcoin wallets, a dynamic blocklist for torrent downloads, a password list checker, anti-spy and private torrent resources, and information about node-Tor and GitHub. Peersm is mentioned twice in the context and appears to offer various resources related to privacy and security in the digital world.

Updated on: 2023-06-11T21:30:23.888512+00:00