Return-Path: Received: from smtp3.osuosl.org (smtp3.osuosl.org [IPv6:2605:bc80:3010::136]) by lists.linuxfoundation.org (Postfix) with ESMTP id 7A02DC000E for ; Sun, 29 Aug 2021 06:03:08 +0000 (UTC) Received: from localhost (localhost [127.0.0.1]) by smtp3.osuosl.org (Postfix) with ESMTP id 54B7B60678 for ; Sun, 29 Aug 2021 06:03:08 +0000 (UTC) X-Virus-Scanned: amavisd-new at osuosl.org X-Spam-Flag: NO X-Spam-Score: 0.6 X-Spam-Level: X-Spam-Status: No, score=0.6 tagged_above=-999 required=5 tests=[BAYES_50=0.8, DKIM_SIGNED=0.1, DKIM_VALID=-0.1, DKIM_VALID_AU=-0.1, DKIM_VALID_EF=-0.1, SPF_HELO_NONE=0.001, SPF_PASS=-0.001] autolearn=ham autolearn_force=no Authentication-Results: smtp3.osuosl.org (amavisd-new); dkim=pass (1024-bit key) header.d=ctemplar.com Received: from smtp3.osuosl.org ([127.0.0.1]) by localhost (smtp3.osuosl.org [127.0.0.1]) (amavisd-new, port 10024) with ESMTP id Z0GV5yfgoi0U for ; Sun, 29 Aug 2021 06:03:04 +0000 (UTC) X-Greylist: delayed 00:05:15 by SQLgrey-1.8.0 Received: from mail.ctemplar.com (mail.ctemplar.com [82.221.128.126]) by smtp3.osuosl.org (Postfix) with ESMTPS id F15DE60674 for ; Sun, 29 Aug 2021 06:03:03 +0000 (UTC) DKIM-Signature: v=1; a=rsa-sha256; q=dns/txt; c=relaxed/relaxed; d=ctemplar.com; s=ctemplar; h=Message-Id:Date:To:From:Subject: Content-Transfer-Encoding:MIME-Version:Content-Type:Sender:Reply-To:Cc: Content-ID:Content-Description:Resent-Date:Resent-From:Resent-Sender: Resent-To:Resent-Cc:Resent-Message-ID:In-Reply-To:References:List-Id: List-Help:List-Unsubscribe:List-Subscribe:List-Post:List-Owner:List-Archive; bh=jm6WceQ+G9TQ4iaatqYKowu87HTpqcVHaCIqcZ78laI=; b=b7BN4MqXWNWZkL4lCbwu+Baci QcvnJEDsSLXOejPLWh3J7IuMxsL+D5OUVtKi5BNvYGfQXgKtjJgfz/KQBNdXZKfi1cChPZFQI3LOX GgqExouOlud5wQdFCVOKc2O4p4W5LCcvaVDtKmfwfdbrkbd6MEyTOy8sz4UO2/2NHW1gk=; Received: from ip6-localhost ([::1] helo=mail.ctemplar.com) by mail.ctemplar.com with esmtp (envelope-from ) id 1mKDp9-0003bn-6v for bitcoin-dev@lists.linuxfoundation.org; Sun, 29 Aug 2021 05:57:43 +0000 Content-Type: text/plain; charset="utf-8" MIME-Version: 1.0 Content-Transfer-Encoding: 8bit From: "pool2win" To: bitcoin-dev@lists.linuxfoundation.org Date: Sun, 29 Aug 2021 05:57:43 -0000 Message-Id: <0aff157f62ea4abba71df4f87eb54880-kohli@ctemplar.com> Feedback-ID: a29obGlAY3RlbXBsYXIuY29t:ctemplar X-Mailman-Approved-At: Sun, 29 Aug 2021 08:02:12 +0000 Subject: [bitcoin-dev] Braidpool: Proposal for a decentralised mining pool X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.15 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Sun, 29 Aug 2021 06:03:08 -0000 We have been working on a peer to peer mining pool that overcomes the problems faced by P2Pool and enables building a futures market for hashrate.   The proposal can be found here: https://github.com/pool2win/braidpool/raw/main/proposal/proposal.pdf   The key features of the pool are:   1. Lower variance for smaller miners, even when large miners join   the pool. 2. Miners build their own blocks, just like in P2Pool. 3. Payouts require a constant size blockspace, independent of the   number of miners in the pool. 4. Provide building blocks for enabling a futures market of hash   rates.   Braidpool: Decentralised Mining Pool for Bitcoin   Abstract. Bitcoin P2Pool's usage has steadily declined over the years, negatively impacting bitcoin's decentralisation. The variance in earnings for miners increases with total hashrate participating in P2Pool, and payouts require a linearly increasing block space with the number of miners participating in the pool. We present a solution that uses a DAG of shares replicated at all miners. The DAG is then used to compute rewards for miners. Rewards are paid out using one-way payment channels by an anonymous hub communicating with the miners using Tor's hidden services. Using the payment channels construction, neither the hub nor the miners can cheat. Full proposal at https://github.com/pool2win/braidpool/raw/main/proposal/proposal.pdf   Details on trading hashrate are here: https://pool2win.github.io/braidpool/2021/08/18/deliver-hashrate-to-market-makers.html   @pool2win