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Mon, 1 Aug 2022 09:37:50 -0400 (EDT) Received: by localhost (Postfix, from userid 1000) id 6B4025F826; Mon, 1 Aug 2022 09:37:47 -0400 (EDT) Date: Mon, 1 Aug 2022 09:37:47 -0400 From: Peter Todd To: "aliashraf.btc At protonmail" Message-ID: References: MIME-Version: 1.0 Content-Type: multipart/signed; micalg=pgp-sha512; protocol="application/pgp-signature"; boundary="T4S61sx0r/2cmSVd" Content-Disposition: inline In-Reply-To: Cc: Bitcoin Protocol Discussion Subject: Re: [bitcoin-dev] Regarding setting a lower minrelaytxfee 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: Mon, 01 Aug 2022 13:37:58 -0000 --T4S61sx0r/2cmSVd Content-Type: text/plain; charset=us-ascii Content-Disposition: inline Content-Transfer-Encoding: quoted-printable On Mon, Aug 01, 2022 at 01:19:05PM +0000, aliashraf.btc At protonmail wrote: > > On Sat, Jul 30, 2022 at 05:24:35PM +0000, alicexbt via bitcoin-dev wrot= e: > > like a hashcash-based alternative broadcast scheme. > Hi Peter, > I've been mulling the idea of attaching work to low fee txns, both as a c= ompensation (e.g., in a sidechain, or an alt), and/or as a spam proof. Unfo= rtunately, both suffer from ASICs: > For spam proof case, the adversary can easily buy a used/obsolete device = to produce lots of spam txns very cheaply, unless you put the bar very high= , making it almost impossible for average users to even try. > The compensation scenario is pretty off-topic, still, interesting enough = for 1 min read: > Wallets commit to the latest blockchain state in the transaction AND atta= ch work. > It is considered contribution to the security (illegitimate chains can't = include the txn), hence isrewarded by fee discount/exemption depending on t= he offset of the state they've committed to (the closer, the better) and th= e amount of work attached. > For this to work, block difficulty is calculated inclusive with the work = embedded in the txns, it contains. Sophisticated and consequential, yet not= infeasible per se. >=20 > Unfortunately, this scheme is hard to balance with ASICs in the scene too= , for instance, you can't subsidize wallets for their work like with a leve= rge, because miners can easily do it locally, seizing the subsidies for the= mselves, long story, not relevant just ignore it. We're not talking about a consensus system here. Just a way to rate-limit access to a broadcast network used by a small minority of nodes. It's completely ok to simply change the PoW algorithm in the _highly_ unlikely e= vent someone bothers to build an ASIC for it. Since this isn't a consensu system, it's totally ok if multiple versions of the scheme run in parallel. --=20 https://petertodd.org 'peter'[:-1]@petertodd.org --T4S61sx0r/2cmSVd Content-Type: application/pgp-signature; name="signature.asc" -----BEGIN PGP SIGNATURE----- iQIzBAEBCgAdFiEE0RcYcKRzsEwFZ3N5Lly11TVRLzcFAmLn1ygACgkQLly11TVR Lzdjsg//R+gpPTjHThVTyCpU+Q7xoWOLQQThn/fjxNaN6Otuh3yiW3+JLYQl7jws oK2GbBV5xUib4klKvyDlffQmjC/vTiQqSm5ONaPxxQjVln9CXjYe4yaxgXevpkTX kqheTiu3nLca7hAmwdJSg0g3TCAYOvVykm9EDxJ8U7mZJQcsbPBxGzLLaA2pbQIq 7toaMEdxHPU7VNr4mlwj4V2Q8Vhte3QEU6MOEY7L8OsfLgoNpOvsJqgbiVK721Q1 Vlm4Wtcb7DFspHK2NvNZjWH+EUOwkRX76DVQj4vQkS70g8kQV+Twgo8ROSbeSwO2 MONgTDu5QTcU6y1mrFFJttc0A63zCL7xvsRqfTtoCBGEf8GITldjRhvv+YEvKOgo d1mBpYVSAWNP91kw/OBT6gRse3PzZ+qt5vt79zEQy8F2JACiDJOLVecxnxHCjE6f h73bT0HA7Rnwbf6VDWXW1XGTmzvp6Hrd4gH9z2CpAalvt1uxO24XANoBQ2zYigc5 fUOBmi3W4lXReOSQ+kpOQe7uBmPUXFyJYPMcmPUNuhdCpafXOHNf9YMuR9VMJdou e2PP67Hni4iGei3gcMGQe15j2b6y49DHf+VIcwca7sYqDqia19WZeBZA62IAvMEC shqhtQSGu7rhDNCtd1C+9G5hdJrRHOlR0Ra5So8jC+K6i2DNtw0= =MsS/ -----END PGP SIGNATURE----- --T4S61sx0r/2cmSVd--