From: ZmnSCPxj <ZmnSCPxj@protonmail•com>
To: "mike@powx•org" <mike@powx•org>
Cc: Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>,
marshall ball <marshallball@gmail•com>
Subject: Re: [bitcoin-dev] Proposal: Low Energy Bitcoin PoW
Date: Tue, 18 May 2021 12:22:09 +0000 [thread overview]
Message-ID: <gU6IuHMWVlb0523voCPVfZjdgWD2XSKyF73j2fbBC-YKQH9QKfoNkOmxxOU2tR1YMh0yiGrTRWvGAtn_MPhLx-GREUUsOYZ3rJkvYjSKSZs=@protonmail.com> (raw)
In-Reply-To: <864F983C-841D-4334-94F4-5A9F7D617B70@powx.org>
Good morning Michael,
> Nothing in a dynamic system like PoW mining can be 100% anticipated, for example there might be advanced in manufacturing of chips which are patented and so on.
>
> It sounds like your take is that this means no improvements can ever be made by any mechanism, however conservative.
Not at all.
Small-enough improvements over long-enough periods of time are expected and anticipated --- that is why there exists a difficulty adjustment mechanism.
What is risky if a large-enough improvement over a short-enough time that overwhelms the difficulty adjustment mechanism.
ASICBOOST was a massive enough improvement that it could be argued to potentially overwhelm this mechanism if it was not openly allowed for all miners.
>
> We do go into a fair amount of detail about Minimum Effective Hardness in our paper https://assets.pubpub.org/xi9h9rps/01581688887859.pdf , which is actually a special case of hardness that we invented for the context of adding an operation to a PoW, and how it applies to random matrix mults.
This certainly helps as well.
Regards,
ZmnSCPxj
next prev parent reply other threads:[~2021-05-18 12:22 UTC|newest]
Thread overview: 15+ messages / expand[flat|nested] mbox.gz Atom feed top
2021-05-17 19:32 Bogdan Penkovsky
2021-05-17 21:13 ` Keagan McClelland
2021-05-18 6:46 ` ZmnSCPxj
2021-05-18 9:18 ` Devrandom
2021-05-18 10:58 ` ZmnSCPxj
2021-05-18 11:05 ` mike
2021-05-18 11:36 ` ZmnSCPxj
2021-05-18 11:43 ` mike
2021-05-18 11:58 ` ZmnSCPxj
2021-05-18 12:17 ` mike
2021-05-18 12:22 ` ZmnSCPxj [this message]
2021-05-18 12:58 ` ZmnSCPxj
2021-05-18 10:59 ` mike
2021-05-18 12:46 ` Claus Ehrenberg
2021-05-18 16:47 ` Keagan McClelland
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