I have the expertise to jump right in, but your discussion has got too long. Is it possible to summarize the points of dispute so other people can join ?
I'll try, but the key points have been shifting a bit rapidly. (I consider this a good thing, progress.)
Socrates1024 jumping in moved the goal posts a bit, too, in ways that are probably not obvious from the thread, now.
Perhaps we need that dedicated IRC channel sooner?
1. Identity. We agree that a PoW mining to claim identity should be used. I say that identity should be pre-claimed, based on a global difficulty target. Ohad says that identity should be claimed when the worker client connects to the publisher for initiation, with an arbitrary target set by the publisher.
My key concern: Publisher has no way to know what an appropriate difficulty should be set at for any given worker.
2. Verification of execution. We agree that it would be ideal to have authenticated processes, where the publisher can verify that the worker is well behaved. Ohad says there doesn't need to be any, and the cost of any approach would be too high. I say the cost can be made low and that there is a likely critical need.
My key concern: Without a verification over at least some aspects of the job work the publisher can have far too little faith in the results of any one computation, and particularly in the results of a combination of computations. In particular, lack of verification may lead to rational collusion by workers and added incentive to attack each-other.
3. System benchmarking. We agree that it would be ideal to have an appropriate system resource model presented to publishers, on which to make their determination about how dispatch and price their work. I say the benchmark must represent that same algorithm to take baseline measurements. Ohad says the baseline can be established with any algorithm.
My key concern: Many attacks based on a combined "gaming" of benchmarks and work performance might be possible if the benchmarks are not representative of the actual work to be performed.
4. Pricing mechanism. We agree that the presented linear decomposition utility pricing objective is probably "just about right." Ohad says his approach is entirely sound. I say that the overall model leads to an opportunity, particularly because of prior points taken in conjunction, for an attacker to introduce relevant non-linearity by lying about results.
My key concern: the fundamental assumption of the system, which ends up "joining together" the entire economic model, actually ends up working in reverse of what was intended, ultimately giving particular incentive to the "sell side" worker side participants to misrepresent their resources and process.
Did I miss any of the major issues?
I like the idea, but I'm getting paranoid about the QoS and the verifiability of pieces of work. Also I don't get the need for introduction of a new currency. I'm sure you've discussed these as I've read the first 5/6 posts, but couldn't quite follow you guys.
I also like the idea, but even if the model is fixed it still has some dangerous flaws "as given." It will be a prime target for hackers, data theft, espionage, and even just general "griefing" by some participants. In some respects, this is easily resolved, but in other respects it may become very difficult and/or costly. This will, in any case, have to be a bit of a "wait and see" situation.