Author: Mike Koss 2012-06-05 00:00:25
Published on: 2012-06-05T00:00:25+00:00
In an email exchange between Mike Koss and Luke-Jr in 2012, Koss asked for clarification on how Luke-Jr's proposal would work for decentralized pools, what the new block header would look like, what is required for a share to be earned, what is required for a block to be valid and for a concrete example using difficulty of 1.7 million. Koss also expressed his understanding that the attacker gets compensated for the shares they earn, but the pool will be denied any valid blocks found. With decentralized pools, the attacker does have access to the block, and can potentially submit it to the Bitcoin network directly bypassing the pool if it benefits them to do so. Luke-Jr proposed that miners can find shares, but won't know if it's a valid block until the subsequent block is also found. Koss suggested having a secret part of a block that is part of the merkle hash, which is not shared with the miners, and is used in a secondary hash. This only works for centralized pools, which are contrary to the health of the Bitcoin network. Decentralized pools cannot have a secret.
Updated on: 2023-06-06T04:54:26.002971+00:00