Published on: 2017-02-14T18:44:26+00:00
John Hardy proposed a method called Proof of Nodework (PoNW) to reward individual nodes for storing and verifying the blockchain. This method involves creating a separate block space called nodeblock, where nodes register their Bitcoin addresses through an addNode transaction along with a security deposit. The PoNW process begins once the addNode transaction is added to the blockchain. During each epoch of 2016 blocks, there is an extended window for PoNW transactions to be added to nodeblocks, reducing minor censorship. To prevent nodes from having multiple keys registered, the share of reward that a node receives is multiplied based on the number of blocks it performs PoNW on within an epoch.At the end of an epoch, after a wait period for any delayed or censored transactions or challenges to be included and settled, the reward calculation for each node can begin. The source and amount of the reward are still open for discussion, with possibilities including using the existing miner reward or implementing a special new tx donation fee for nodes.Sergio Demian Lerner responded to John's proposal by mentioning RSK platform, which has already implemented a similar system. RSK allocates 1% of the block reward to automatically reward full nodes. They are evaluating two systems: Proof of Unique Blockchain Storage (PoUBS) and traditional proof of retrievability. PoUBS uses asymmetric-time operations to encode the blockchain based on each user's public key, ensuring fast decoding but slow encoding. The second system requires ASIC-resistance assumptions.To prevent blockchain bloat, RSK designed an Ephemeral Payload transaction payload that gets discarded after N blocks if no smart contract references it. If referenced, it is solidified in the blockchain forever. RSK's short block interval of 10 seconds allows for quick and efficient execution of these processes, minimizing computation and storage requirements.Overall, both PoNW and RSK's system provide incentives for full nodes to participate in the network and contribute to its security and decentralization. The use of smart contracts, challenges, and rewards ensures the integrity of the system while minimizing blockchain bloat.
Updated on: 2023-08-01T19:32:36.789676+00:00