Author: Adam Back 2013-05-31 18:14:23
Published on: 2013-05-31T18:14:23+00:00
A new concept called pooled-solo mining was introduced by Gregory Maxwell, Luke Dashjr and Peter Todd. It proposes that miners should run a local bitcoin node and use it to construct blocks they mine, while the pool's job is to only track shares and organize payouts. The idea behind this is that if the pool gets hacked, the worst that can happen is miners being ripped off instead of Bitcoin itself being attacked. This concept aims to take power over the direction of the network from big pools and put it into the hands of thousands of individual miners. Additionally, people who support Keep Bitcoin Free want to fund a developer to make this happen. The email also argues that lack of self-chosen challenge field is the reason Satoshi's first year mining is marked which makes it important to add randomness to extraNonce2 to avoid hostile-pre-mining attacks. Finally, the email looks at the technical requirements to get an idea of the scope required for the project.
Updated on: 2023-06-06T18:17:15.506324+00:00