I haven't seen any discussion of merged mining on other block chains like namecoin here yet (at least, no hits on a search of this thread). Are you working on this?
https://github.com/vinced/namecoin/blob/mergedmine/doc/README_merged-mining.mdhttp://dot-bit.org/Merged_MiningBasically, we can earn namecoins and bitcoins at the same time. It sounds crazy, but it appears that there is no loss of bitcoin hashing power when adding namecoin mining. Just additional free profits. The only thing needed to enable this is changes on your end.
Or are we already mining namecoins for you?
This will start working at namecoin block 24000. Current namecoin block is
http://explorer.dot-bit.org/ 18000. So still plenty of time - it is impossible for pool to mine minecoin right now.
Also, mining is finding a nonce against a hash of merkle tree of whole block chain. It is not possible that two different chains (namecoin, bitcoin) will have the same hash of merkle tree. You cannot look for a nonce against two different hashes of merkle tree, it must be one of them. Can you point me to the exact description of
implementation and math involved, how namecoin has to be modified to get this to work?
Because currently it would be for example spending some percent of total power on minecoin and the rest on bitcoins, which isn't what people want (less hashing power going to bitcoins?).
Ah, so we have about 42 days (1000 hours) before this is possible if namecoin averages 6 blocks/hour.
That's exactly what I thought (that you couldn't have one hash work for both), but I was wrong. I'm not an expert on this, but my understanding is that
they will both accept the same hash if it meets their current difficulty requirements. I had to read lots and lots of posts and wiki pages before I finally understood this. One post which helped was here:
http://forum.bitcoin.org/index.php?topic=30294.msg393412#msg393412Basically, namecoin has been modified to accept bitcoin hashes which contain the namecoin merkle root hash in the bitcoin block. The bitcoin protocol doesn't care, and you get free namecoins for the bitcoin hashing you were already doing.
There will be more and more alternative chains, and miners are going to want to get as much value out of their hashing as they can, so this will become an essential feature. The pools will probably just sell the namecoins for bitcoins, take their cut, and distribute the rest of the extra bitcoins to the miners.