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From: Karl <gmkarl@gmail.com>
Date: Sat, 23 May 2020 07:00:54 -0400
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Subject: [bitcoin-dev] hashcash-newhash
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--000000000000a37c7205a64ea961
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Hi,
I'd like to revisit the discussion of the digest algorithm used in hashcash.
I believe migrating to new hashing algorithms as a policy would
significantly increase decentralization and hence security.
I believe the impact on existing miners could be made pleasant by gradually
moving the block reward from the previous hash to the next (such that both
are accepted with different rewards). An appropriate rate could possibly
be calculated from the difficulty.
You could develop the frequency of introduction of new hashes such that
once present-day ASICs are effectively obsolete anyway due to competition,
new ones do not have time to develop.
I'm interested in hearing thoughts and concerns.
Karl Semich
--000000000000a37c7205a64ea961
Content-Type: text/html; charset="UTF-8"
Content-Transfer-Encoding: quoted-printable
<div dir=3D"auto"><span style=3D"font-family:sans-serif">Hi,</span><div dir=
=3D"auto" style=3D"font-family:sans-serif"><br></div><div dir=3D"auto" styl=
e=3D"font-family:sans-serif">I'd like to revisit the discussion of the =
digest algorithm used in hashcash.</div><div dir=3D"auto" style=3D"font-fam=
ily:sans-serif"><br></div><div dir=3D"auto" style=3D"font-family:sans-serif=
">I believe migrating to new hashing algorithms as a policy would significa=
ntly increase decentralization and hence security.</div><div dir=3D"auto" s=
tyle=3D"font-family:sans-serif"><br></div><div dir=3D"auto" style=3D"font-f=
amily:sans-serif">I believe the impact on existing miners could be made ple=
asant by gradually moving the block reward from the previous hash to the ne=
xt (such that both are accepted with different rewards).=C2=A0 An appropria=
te rate could possibly be calculated from the difficulty.</div><div dir=3D"=
auto" style=3D"font-family:sans-serif"><br></div><div dir=3D"auto" style=3D=
"font-family:sans-serif">You could develop the frequency of introduction of=
new hashes such that once present-day ASICs are effectively obsolete anywa=
y due to competition, new ones do not have time to develop.</div><div dir=
=3D"auto" style=3D"font-family:sans-serif"><br></div><div dir=3D"auto" styl=
e=3D"font-family:sans-serif">I'm interested in hearing thoughts and con=
cerns.</div><div dir=3D"auto" style=3D"font-family:sans-serif"><br></div><d=
iv dir=3D"auto" style=3D"font-family:sans-serif">Karl Semich</div></div>
--000000000000a37c7205a64ea961--
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