Author: mike at powx.org 2021-05-18 12:17:46
Published on: 2021-05-18T12:17:46+00:00
The context discusses the unpredictability of improvements in mining mechanisms such as PoW due to advancements in technology. The concept of Minimum Effective Hardness is explained, which was created for the purpose of adding an operation to a PoW and how it applies to random matrix mults. The history and technical description of ASICBOOST is also discussed. By fixing the partial computation of the second block of SHA256, ASICBOOST allows a grinder to grind more candidate blocks without recomputing the second block output, reducing the needed power consumption for the same number of hashes attempted. A writeup on ASICBOOST is provided and is recommended reading for anyone who wishes to change PoW algorithms. The proposal to phase in oPoW slowly starting at a very low % of the rewards is suggested as a way to mitigate this issue. However, additional layers mean additional possibility of layer-crossing violations such as ASICBOOST, making this mitigation not as strong as it may appear at first glance.
Updated on: 2023-06-14T21:59:34.694929+00:00