Merged Mining - Bitcoin Namecoin Solidcoin

nodemaster

full member

Activity: 176

Merit: 100

For namecoin it is already implemented and we are counting down to the block where merged mining will start: https://masterpool.eu/statistics

It's really a major update for the users of the blockchain which is mined additionally (called AUX chains) because you need all users to update to a new client. Using an old client will reject new clients blocks an vice versa as soon as merged mining start. At the moment I doubt it's possible with pump and dump blockchains. It took us several month on namecoin forum to agree on a block for merged mining. Furthermore for a merged mining pool you need a blockhain with some stable global hashrate .You can have surges in hashrate to some extend but you can't have a blockchain finding a block every few seconds. It's impossible to send long pollings for all blockchains every second like it was the case for some of those PnDcoins (Pump and Dump Coins). The merged mining pool would effectively be paralized and won't mine anything Tongue

Icoin

hero member

Activity: 585

Merit: 501

Quote

You need to change the block layout of the "child" chain (most likely NOT Bitcoin but *scamcoin) - and it would mean the creators of these forks cannot scam you any more that easily + their coins are more or less worthless. I doubt that this will happen with the mentioned currencies, as they are designed to be a "hot potato" that you pass on until someone has lost instead of adressing real issues. Otherwise they would already use this system, which is known longer than these *scamcoins exist.

Well i agree with you on that point *scamcoin, but anyway namecoin is a very solid DNS replacement concept.
I would like to be able send the hashes to more and just one blockchain, basicaly i think this should be a possible implementation in pushpool.

On the other hand the blockchain can be used allso for various internal purposes, and i dnt see the reason why when a hash gets generated it shouldnt be tested against more then just one blockchain. HASH IS HASH if tested against one or more Blockchains shouldnt mather.

Sukrim

legendary

Activity: 2618

Merit: 1007

You need to change the block layout of the "child" chain (most likely NOT Bitcoin but *scamcoin) - and it would mean the creators of these forks cannot scam you any more that easily + their coins are more or less worthless. I doubt that this will happen with the mentioned currencies, as they are designed to be a "hot potato" that you pass on until someone has lost instead of adressing real issues. Otherwise they would already use this system, which is known longer than these *scamcoins exist.

Icoin

hero member

Activity: 585

Merit: 501

No, basicaly you send 100% to all three chains since the hash is same for all three chains. Cause it doesnt mather Hash is Hash and this can be checked against all three chains simultanously.

Quote

"Merged mining works like this, you have two totally separate block chains, they are not related in any way nor does either contain any data from the other. When you mine you generate hashes that may be the solution to the current block, this is very very improbable per hash, its like a lottery where everyone generates tickets until someone finds the winning one. Normally you make tickets and check them against the Bitcoin block chain to see if they are the solution. With merged mining you create a ticket and check it against both the Bitcoin block chain and the Namecoin block chain, Bitcoin and Namecoin know nothing about each other, they are two totally different lotteries with different winning numbers, you just sent a copy of your ticket to both. Since you are sending the same ticket to two lotteries you increase your chances of winning one or the other. No Bitcoin data goes into Namecoin no Namecoin data into Bitcoin they remain totally separate, you simply run both the Namecoin and Bitcoin clients on the same machine and submit hashes to both networks, if your hash is the solution to the Namecoin block you get Namecoins if you hash is the solution to the Bitcoin block you get Bitcoins, its exactly like if you where mining on just one network, except you submit the same work twice."

In our case we would check the "tickets" against three blockchains instead of just two

NothinG

hero member

Activity: 560

Merit: 500

I might see where you are going with this...

So, instead of mining for bitcoins with 100% of your shares; you send 80% of your shares for bitcoins and 20% of your shares for namecoins?
(^ example)

Icoin

hero member

Activity: 585

Merit: 501

Well since we have more and more blockchains that basicaly works same way as the bitcoin blockchain, there could be a nice way to check all running blockchains on a miningpool simultanously as suggested in this document: http://dot-bit.org/Merged_Mining. Imho this would be aswell the solution for significant losses of network speed in any of this chains. This way it would for a miner not mather witch chain he/she is mining on but only on the pool setup.

To be honest i realy dnt like the idea that users starts to discredit a certain blockchain to make the "new" blockchain more attractive.

Would be great if you guys here would develope idea and develope further - we all would benefit from it.

Topic: Merged Mining - Bitcoin Namecoin Solidcoin (Read 1601 times)