Published on: 2019-12-02T02:04:21+00:00
The conversation between Orfeas and ZmnSCPxj revolves around the effectiveness of Proof-of-Work (PoW) as an anti-spam measure for the Lightning Network (LN). ZmnSCPxj suggests that locking up-front fees and reverting them to the original sender can limit spam, but this can be bypassed if PoW is not fresh. He argues that if PoW is included with (nonce || recent block hash || recipient public key), it would prevent burst-spamming.ZmnSCPxj notes that the fee paid to intermediate nodes by the payer is already a sunk cost, so the payer does not care if the intermediate nodes fail to claim the fee. However, PoW is valued by intermediate nodes as a spam-limiting factor. The resellability of PoW elsewhere is limited due to being tied to a particular payment attempt.The discussion mainly focuses on using PoW as an anti-spam measure for the Lightning Network (LN). One argument suggests that if PoW actively limits spam, the PoW target must be high enough to prevent burst-spamming. Including the recipient public key in PoW can prevent burst-spamming and ensure that the payer cannot outsource PoW calculation without risking the loss of fees.There is a disagreement regarding whether PoW has a market value and if it can be bought for money. One side argues that PoWs have a market value, while the other suggests that PoW and fees are not interchangeable as an anti-spam measure for LN. Both sides agree that there isn't enough information to determine whether every PoW-based scheme can be transformed into an equivalent fee-based scheme.In conclusion, the discussion highlights the complexities of using PoW as an anti-spam measure for the LN. It emphasizes the importance of considering factors such as burst-spamming prevention, resellability, and the relationship between PoW and fees. Lastly, it is worth mentioning that the University of Edinburgh, mentioned in the context, is a charitable body registered in Scotland with registration number SC005336.
Updated on: 2023-07-31T22:26:18.393639+00:00