Topic: [ANN][STEEM][POW] - An experimental Proof of Work blockchain - page 7. (Read 10450 times)

Bitcoin: "5...", what is your account name?

FYI: there is a wallet that gets built, cli_wallet.  

./cli_wallet and will connect to ./steemd *if* you launch ./steemd with --rpc-endpoint

Also for the wif format, is this dumpprivkey format ("L...") or bitcoin wif ("5...") ?

And yet you have no compiled wallets???
FAIL?

3472172ms th_a       witness.cpp:341               on_applied_block     ] hash rate: 19417 hps

We would like to have the benefits of Proof of Work (aka mining) without the downsides such as unpredictable block production time, mining pool centralization, or the potential for recent blocks to be orphaned. The primary benefits of POW include:

1. An objective measure of quality that is expensive to forge
2. A financial incentive to optimize a useful/necessary computer algorithm
3. A distribution model that attracts tech-savvy users
4. Creation of a robust low-latency network

Unlike traditional mining, block production time is separated from the time when work is performed. When a solution is found that meets the target difficulty, a transaction is submitted the network and included by the current block producer. To be included, the POW must be derived from the current head block. The user is then added to a queue to be included in a future block production round. The target difficulty becomes a function of the queue length. A simple algorithm would require a number of leading 0 bits of a POW hash equal to the number of producers in the queue. We chose to make difficulty equal to queue length divided by 4.

With three-second block times, a POW miner needs to operate a node with minimal network latency so it can get the new head-block as quickly as possible and then submit its result to the network with enough time to propagate to the next block producer.

Why not back off a little and let some miners find some blocks? I think you are getting them all.

Current difficulty:  000001ffffffffffffffffffffffffffffffffffffffffffffffffffffffffff

Most of what we are mining will be given away in the future, so what ever concerns there are about our early mining dominance will not matter in the long run.

Mining is very sensitive to latency due to having less than 3 seconds to receive a block, mine, and broadcast a solution.

Cool, thanks. Now, how many cores are you mining with? Because the diff is high.

HASH() is SHA256, but the algorithm is dominated by RECOVER_PUBLIC_KEY() and SIGN() for which there is no ASIC or GPU code that I am aware of.

I would respond faster, but bitcointalk is rate limiting me to once every 6 minutes.

Great. But what is HASH() ? ? ?

While any mining algorithm could be used, we would like to introduce a new algorithm that has several beneficial properties. The mining algorithm requires proof that the miner possess the private key for the account that will ultimately produce the block and receive the reward. The algorithm also requires the user to do an elliptic curve signature verification, the optimization of which will benefit the validation of all transactions and lower the cost of operating the network in the long run.

The algorithm:


To be valid the POW must be less than the target difficulty and RECOVER_PUBLIC_KEY(H2,S) must equal PUB. The miner introduces randomness in either the selection of the NONCE or via the randomness required for elliptic curve signature generation. This, combined with the private key selection should ensure that no two miners are searching the same work space.

By starting and ending the POW with a cryptographically secure hash function we can ensure that any vulnerabilities or computational shortcuts that may exist in the RECOVER_PUBLIC_KEY algorithm or SIGN algorithm will ultimately cause the POW algorithm to revert back to a simple HASH-based POW.

What is the algo? ? ? ?


I've been mining with 8 cores and have gotten nothing in 20 blocks. Either a bunch of others figured this out real fast or you are mining with asics.

user names should be all lower case and less than 15 characters long.

i do not get how to mine...

I built it.

Can you make an example of how to start the miner. I'm getting json errors.

Will any wif key do?

And what error are you getting? It is a simple cmake system.

It builds on OS X and Ubuntu. 

No wallet,no miner,Dev,are you kidding?

It also means when a developer or a miner mines a coin, in the beginning, with an advantage.  Regardless of how many coins you are going to get, your limited ANN and "new" type of coin limits people from mining the coin, whereas you can mine it - an advantage.  You're "instantly mining" the coin because there is no one else who can mine the coin.

Hey, it's your coin and if you want only the smart people to be able to figure out how to mine the coin, then you can do that.  But if you want people interested in the coin and able to mine it and learn about it, then explain to people how to mine the coin and generate the wallets and they'll be much more interested in your project.  Sure, there are people who only mine a coin to make money and don't care about technology, but there are people who love the tech and would like to learn and mine.  People are just looking at this thread and saying Pass.

Maybe if you would have released the code in advance so that people could ask questions and learn, then started the blockchain and mining, things would be different.  But, you didn't decide to do that.

My interpretation of instamine is when the block reward is very high at the beginning giving non-linear returns to the first block producers.  Here we get linear returns. If we get a full 24 hours with no competition then we will end up with less than 0.3% of the STEEM after a year.