Author: Randi Joseph 2014-07-07 00:20:38
Published on: 2014-07-07T00:20:38+00:00
In an email exchange, Randi suggested an alternative approach to the current method of Bitcoin mining rewards allocation. Mike Hearn responded that the concept of "runner up" blocks is not valid because hashing is progress-free and there is no concept of being close to finding a solution. However, he did suggest the idea of rewarding "near miss" solutions through the use of pools, which already exist and pay miners for shares that almost meet the difficulty target. The challenge is to implement this reward structure without miners giving up their right to block creation due to technical problems or laziness. Randi thanked Mike for his response and acknowledged that her suggestion may have been too radical.
Updated on: 2023-06-09T00:40:30.257564+00:00