From: ZmnSCPxj <ZmnSCPxj@protonmail•com>
To: Zac Greenwood <zachgrw@gmail•com>
Cc: Bitcoin Protocol Discussion
<bitcoin-dev@lists•linuxfoundation.org>,
SatoshiSingh <SatoshiSingh@protonmail•com>
Subject: Re: [bitcoin-dev] Opinion on proof of stake in future
Date: Tue, 18 May 2021 10:42:49 +0000 [thread overview]
Message-ID: <hASF-iYeGlsq3EhNWY0EWhk5S8R1Wwn534cWsrwLInd8K7f7bUDCAP4GgTj8_ZNsKtgv8y09GJovcS6KXhYRHODC5N_88fvCAF1Z-r2TUFg=@protonmail.com> (raw)
In-Reply-To: <CAJ4-pEBYJNuNMUCt5J5DbKU4RC9JXcO7gZdKh2Vq6PHCmddaeg@mail.gmail.com>
Good morning Zac,
> VDFs might enable more constant block times, for instance by having a two-step PoW:
>
> 1. Use a VDF that takes say 9 minutes to resolve (VDF being subject to difficulty adjustments similar to the as-is). As per the property of VDFs, miners are able show proof of work.
>
> 2. Use current PoW mechanism with lower difficulty so finding a block takes 1 minute on average, again subject to as-is difficulty adjustments.
>
> As a result, variation in block times will be greatly reduced.
As I understand it, another weakness of VDFs is that they are not inherently progress-free (their sequential nature prevents that; they are inherently progress-requiring).
Thus, a miner which focuses on improving the amount of energy that it can pump into the VDF circuitry (by overclocking and freezing the circuitry), could potentially get into a winner-takes-all situation, possibly leading to even *worse* competition and even *more* energy consumption.
After all, if you can start mining 0.1s faster than the competition, that is a 0.1s advantage where *only you* can mine *in the entire world*.
Regards,
ZmnSCPxj
next prev parent reply other threads:[~2021-05-18 10:43 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 [this message]
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
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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