the original argument was correct: has to be a hard fork.
otherwise there's nothing to prevent a miner with leftover asics from
"tricking" old nodes to following another chain.
a hard fork is a really, really high bar - there would have to be
something very broken to justify it.
quantum-hashing
The way I would think of doing this kind of thing (switching consensus
protocol), which includes switching to a different hash function for proof
of work, is to have a transitionary period where both consensus mechanisms
are used to mine. This transitionary period should be long (perhaps years)
to
On Fri, Apr 16, 2021 at 04:48:35PM -0400, Erik Aronesty via bitcoin-dev wrote:
> The transition *could* look like this:
> - validating nodes begin to require proof-of-burn, in addition to
> proof-of-work (soft fork)
> - the extra expense makes it more expensive for miners, so POW slowly drops
>
Hi Erik,
Here's a scheme I posted here a few years ago, which smoothly transitions
using geometric mean chain weight / difficulty:
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-November/015236.html
On Fri, Apr 16, 2021 at 11:08 PM Erik Aronesty via bitcoin-dev <
Yes, transition from Proof of Work to Proof of Something Else is possible in a
soft-fork way. All that is needed is getting miners and users support. Then,
Proof of Work difficulty should drop to one, and the rest would be solved by
Proof of Something Else. Old miners still could use ASIC
> I think you need to hard deprecate the PoW for this to work, otherwise all
> old miners are like "toxic waste".
what would be the incentive? a POB would be required on every block
(and would be lost if not used). so any miner doing this would just
be doing "extra work" and strictly losing
I think you need to hard deprecate the PoW for this to work, otherwise all
old miners are like "toxic waste".
Imagine one miner turns on a S9 and then ramps up difficulty for everyone
else.
On Fri, Apr 16, 2021, 2:08 PM Erik Aronesty via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org>
Not sure of the best place to workshop ideas, so please take this with
a grain of salt.
Starting with 3 assumptions:
- assume that there exists a proof-of-burn that, for Bitcoin's
purposes, accurately-enough models the investment in and development
of ASICs to maintain miner incentive.
- assume
