From: Billy Tetrud <billy.tetrud@gmail•com>
To: SatoshiSingh <SatoshiSingh@protonmail•com>
Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] Opinion on proof of stake in future
Date: Sun, 6 Jun 2021 23:15:23 -0700 [thread overview]
Message-ID: <CAGpPWDYS6WDZPG0XBmGe=mnnaVjgS-re4D5JAN89gJNNVkW-WA@mail.gmail.com> (raw)
In-Reply-To: <ezYMjgraP-QaPOjNm8r6nF7J1J-XIaDbVClPA0lvqMTQrjyHukVKY7473OfrQfHxyVDLqjingyEhA6yEeTF5FabNyY3NwhDPlRK5PRyLJCU=@protonmail.com>
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@SatoshiSingh PoLW sounds like a hybrid of PoW and proof of burn. I agree
with befreeandopen that proof of burn is basically a form of proof of
stake. My conclusion from this exploration
<https://github.com/fresheneesz/proofOfTimeOwnership> is that hybrid
protocols are a dead end because hybrid protocols have one weaker link
that's easier to attack.
In this case, miners are burning coinbase rewards. The proof of stake is
the burn itself. However, a miner would only burn coins if doing so lead to
greater rewards in the future. So the burned coins are in fact actually
earned, and still have value. Therefore I would think that miners would
still do an amount of work totaling up to the full value of the block
reward, regardless of whether they burn it, because any burnt coins should
be expected to lead to more coins in the future than were burned. What am I
missing?
On Wed, Jun 2, 2021 at 10:30 PM SatoshiSingh <SatoshiSingh@protonmail•com>
wrote:
> Great conversation everyone. I'm happy we're still engaged with this
> discussion. To add food for thought I'm bringing back something that was
> introduced in this mailing list sometime ago, which is Proof of Less Work.
>
> PoLW may or may not be it but we can certainly get more ideas from it to
> keep the discussion going.
>
> https://raw.githubusercontent.com/alephium/research/master/polw.pdf
>
>
> Sent with ProtonMail Secure Email.
>
>
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next prev parent reply other threads:[~2021-06-07 6:15 UTC|newest]
Thread overview: 67+ messages / expand[flat|nested] mbox.gz Atom feed top
2021-05-07 17:17 SatoshiSingh
2021-05-07 23:04 ` Eric Voskuil
2021-05-08 14:33 ` Karl
2021-05-09 10:21 ` R E Broadley
2021-05-09 10:59 ` Karl
2021-05-07 23:19 ` Jeremy
2021-05-08 2:40 ` honest69abe
2021-05-08 14:42 ` Karl
2021-05-09 19:07 ` Cloud Strife
2021-05-08 13:44 ` Eric Martindale
2021-05-09 11:30 ` R E Broadley
2021-05-10 14:08 ` Erik Aronesty
2021-05-10 15:01 ` Keagan McClelland
2021-05-10 21:22 ` LORD HIS EXCELLENCY JAMES HRMH
2021-05-10 21:51 ` Jeremy
2021-05-17 16:58 ` Erik Aronesty
2021-05-18 7:06 ` ZmnSCPxj
2021-05-18 10:16 ` Zac Greenwood
2021-05-18 10:42 ` ZmnSCPxj
2021-05-18 14:02 ` Zac Greenwood
2021-05-18 18:52 ` Erik Aronesty
2021-05-19 14:07 ` Michael Dubrovsky
2021-05-19 15:30 ` Michael Dubrovsky
2021-05-21 0:04 ` Billy Tetrud
2021-05-21 9:42 ` vizeet srivastava
2021-05-21 20:57 ` Erik Aronesty
2021-05-21 21:45 ` Billy Tetrud
2021-05-23 3:41 ` Lloyd Fournier
2021-05-23 19:10 ` Billy Tetrud
2021-05-23 19:28 ` Billy Tetrud
2021-05-24 13:47 ` Erik Aronesty
2021-05-24 20:43 ` Billy Tetrud
2021-05-24 21:49 ` Erik Aronesty
2021-05-25 1:52 ` Billy Tetrud
2021-05-25 13:00 ` Erik Aronesty
2021-05-25 20:01 ` Billy Tetrud
2021-05-25 21:10 ` befreeandopen
2021-05-26 6:53 ` Billy Tetrud
2021-05-26 13:11 ` befreeandopen
2021-05-26 22:07 ` Erik Aronesty
2021-05-28 14:40 ` befreeandopen
2021-05-28 20:06 ` Erik Aronesty
2021-05-28 21:40 ` Billy Tetrud
2021-06-01 8:21 ` befreeandopen
2021-06-01 16:33 ` Erik Aronesty
2021-06-01 19:26 ` befreeandopen
2021-06-01 20:28 ` Erik Aronesty
2021-06-03 5:30 ` SatoshiSingh
2021-06-07 6:15 ` Billy Tetrud [this message]
2021-05-27 10:08 ` Billy Tetrud
2021-05-27 13:11 ` Erik Aronesty
2021-05-28 14:36 ` befreeandopen
2021-05-25 8:22 ` befreeandopen
2021-06-15 11:13 ` James MacWhyte
2021-06-17 1:48 ` Lloyd Fournier
2021-06-17 3:31 ` Cloud Strife
2021-06-22 17:45 ` Billy Tetrud
2021-06-23 18:14 ` Keagan McClelland
2021-06-24 0:14 ` Billy Tetrud
2021-06-24 0:37 ` Keagan McClelland
2021-06-24 17:34 ` yanmaani
2021-06-24 21:50 ` Erik Aronesty
2021-06-25 0:29 ` yanmaani
2021-06-25 16:08 ` Ruben Somsen
[not found] ` <MN2PR10MB4030EBD14EF82E29CFEDD00FB1069@MN2PR10MB4030.namprd10.prod.outlook.com>
2021-06-26 16:26 ` Billy Tetrud
2021-05-08 10:21 Prayank
[not found] <mailman.100801.1624522329.32591.bitcoin-dev@lists.linuxfoundation.org>
2021-06-24 8:59 ` Carlo Spiller
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