Author: Eric Voskuil 2021-03-05 22:49:57
Published on: 2021-03-05T22:49:57+00:00
It is generally considered bad form to repost a private thread, especially one that you initiated. Before submitting a BIP, it's more effective to generate community support to avoid overwhelming the process. This may be why the original poster isn't receiving responses. To draft a BIP, they can use their own repository and collect feedback from interested parties. Posting a link to their research/code is a good start, but an overview of the central principles is necessary to gain more support. The original poster wants to tackle cryptography in a way that goes beyond Chia's network. They are trying to lower invalidated proofs while getting the best of both worlds in regards to PoW and PoC. The goal is to address the efficiency issue at the core. While they suggest looking at the entire proposal for the mechanisms of how they will do that, they hope the BIP team will allow them to draft it out on GitHub. The argument against PoM is only partially true, according to the original poster. There is a way to make PoC cryptographically compatible with Proof of Work as it normally stands. However, given the current hashing algorithm, hard memory allocation wouldn't be of much benefit since it is more optimized for CPU/ASIC-specific mining. The original poster is working towards a hybrid mechanism that fixes that and aims to integrate some form of NP complexity into their hybrid cryptography. In regards to the argument against proposing a hard fork in the hashing algorithm, a large portion of BTC is already mined through AWS servers and non-ASIC specific hardware anyways. A majority of them would benefit from a hybrid proof, and the fact that it is hybrid in that manner wouldn't disenfranchise currently optimized mining entities as well. The original poster wants to build cryptography in a way that prevents Bitcoin from being entirely broken if unsolved mathematical proofs were to occur in the future. They have various research in this area and work a lot with distributed computing. They believe that if the BTC community likes such a proposal, they would be able to build the cryptographic proof themselves. Overall, the original poster is proposing a better cryptography layer to get the most out of hashing for validation. While some may argue that energy expenditure has negative externalities and that we should move to other resources, the original poster believes that negative externalities will go away soon because of the move to renewables.
Updated on: 2023-06-14T19:05:52.650973+00:00