Author: Matt Whitlock 2014-06-16 17:26:48
Published on: 2014-06-16T17:26:48+00:00
Justus Ranvier proposed a solution for proof-of-work or proof-of-stake systems to limit the number of lottery tickets acquired by individuals. He suggested that every node should compete with its peers in terms of relevancy, which is established by delivering newly-seen transactions first. Each node would keep track of which of its peers send it transactions that it hadn't seen and forwarded to them yet, and use that information to determine whether or not it should be paying that peer or if they are equal relevancy and no net payment is required. Once any given pair of nodes can establish who, if anyone, should be paying, they could use micropayment channels to handle payments. Nodes that are well connected and with high uptimes would end up being net recipients of payments. Mobile nodes and other low-uptime nodes would be net payers. Price signals could be relied on to properly match supply and demand. People who hate market-based solutions could always run these nodes and configure them to refuse to pay anyone and charge nothing to their peers. However, Matt Whitlock pointed out that this idea generates some perverse incentives as it incentivizes greater consumption of bandwidth and storage.
Updated on: 2023-06-09T00:07:42.002993+00:00