Published on: 2014-07-19T00:54:36+00:00
In an email thread on the Bitcoin-development mailing list, the problem of set reconciliation is discussed. The goal is to reduce communication complexity between peers who have different sets of transactions in a block. A paper from Cornell proposes a scheme for achieving this through an underlying technique from the peer-to-peer/gossip literature. This approach has advantages over Bloom filters, including smaller packet sizes, non-probabilistic and non-interactive nature, and avoidance of hash collision complications. The idea is suggested to be applied to the Bitcoin p2p protocol to reduce packet size.The email thread also discusses the concept of democratizing transaction selection. Jeff Garzik suggests propagating blocks without re-propagating all transactions everyone already has, which would address the issue of large blocks being slower to relay. This would also give power back to the network at large and reduce the control of miners. Mike Hearn agrees with this suggestion and proposes finishing off getblocktemplate support in various tools to enable pooling for payout purposes without giving up control of block creation.In a conversation between Jeff Garzik and slush, it is mentioned that Satoshi Nakamoto appeared to be displeased with the early emergence of GPU mining pools. However, it is noted that Satoshi had left the project before mining pools gained traction. This historical note provides insight into Satoshi's views on GPU mining and its impact on the distribution of coins.Another message in the email thread apologizes for replying to the wrong subject line and suggests that finishing off getblocktemplate support is the best path forward for pooling without giving up control of block creation. Mike Hearn responds to Jeff's message about GPU mining and mentions Satoshi's desire for a gentlemen's agreement to postpone GPU mining as long as possible to ensure an even distribution of coins.A historical note by Jeff Garzik highlights Satoshi's dislike for the early emergence of GPU mining pools. It is mentioned that Satoshi left the project before mining pools gained traction. The email provides insight into the early days of cryptocurrency mining and attitudes towards emerging technologies within the community.In the context provided, the author discusses the concept of "acceptable" in regards to Bitcoin mining. There is disagreement on whether a 40% solution is a good idea, but the author believes it is a positive step. The more critical issue is developing technical solutions for decentralized transaction selection and SPOF-proofing mining. A historical note is provided on Satoshi's views on GPU mining pools and the potential concentration of power among a few big players. The need for technical solutions to keep Bitcoin free and open is emphasized, and various proposals are being discussed to make transaction selection more independent from hashpower.
Updated on: 2023-08-01T09:45:39.288703+00:00