My guess: PoS is not a Bitcoin concept, so why post it there? If you wanted to discuss a replacement of PoW with an improved PoS your post fails to mention that.
It might also help if you explain why you think it belonged in the section you originally posted it in. Apparently at least the person reporting it and a mod think otherwise.
Topic: Topic moved out of Bitcoin Development & Technical Disccussion thread (Read 827 times)
November 08, 2014, 07:44:39 AM
November 07, 2014, 06:39:32 PM
https://bitcointalksearch.org/topic/proof-of-stake-with-entropy-loss-as-signature-cost-848283
Would like to know why before I repost it, since some arbitrary mod might ban me. Thanks.
Edit: NOTE the absolute lack of relevance to an alt-coin in any of the posts in the topic.
Quote
(Eliminating Nothing-is-at-Stake using Shamir's Secret Sharing)
Each address that participates in signing will have a deterministic secret S (it has to be deterministic to make their sharing verifiable) known only to them (i.e. the initial secret state could just be the SHA256 of an ECDSA signature over the genesis block), all the algorithmic steps are normal, except instead of distributing the secret among a number of holders, they will include a point pair (Xi, Yi) on each Block_i which they sign, where Xi is something publicly known such as the block-header hash of the block, and Yi is computed. Note, Shamir's Seceret Sharing has no mechanism for cheater resistance, but with cryptocurrencies identity is already established with ECDSA, since PoS reward does not need to be immediate (see below), it can be easily verified if said signer cheated when providing Xi, Yi pairs.
I suggest re-adjusting block reward to a method, Let's call it Sign-Accumulate-Redeem. Fees from Block Processing will be collected and not returned instantly. For a given stake holder address after they have signed (n-1) number of blocks, they can claim their rewards, by referencing the number of each block in which they have signed, and also revealing their secret S . If S has already been revealed they cannot claim anything.
Reward calculation can just be something like sum (stake/total_signing_stake * (coin_days modifier) * (fees_collected in block)).
Each address that participates in signing will have a deterministic secret S (it has to be deterministic to make their sharing verifiable) known only to them (i.e. the initial secret state could just be the SHA256 of an ECDSA signature over the genesis block), all the algorithmic steps are normal, except instead of distributing the secret among a number of holders, they will include a point pair (Xi, Yi) on each Block_i which they sign, where Xi is something publicly known such as the block-header hash of the block, and Yi is computed. Note, Shamir's Seceret Sharing has no mechanism for cheater resistance, but with cryptocurrencies identity is already established with ECDSA, since PoS reward does not need to be immediate (see below), it can be easily verified if said signer cheated when providing Xi, Yi pairs.
I suggest re-adjusting block reward to a method, Let's call it Sign-Accumulate-Redeem. Fees from Block Processing will be collected and not returned instantly. For a given stake holder address after they have signed (n-1) number of blocks, they can claim their rewards, by referencing the number of each block in which they have signed, and also revealing their secret S . If S has already been revealed they cannot claim anything.
Reward calculation can just be something like sum (stake/total_signing_stake * (coin_days modifier) * (fees_collected in block)).
Would like to know why before I repost it, since some arbitrary mod might ban me. Thanks.
Edit: NOTE the absolute lack of relevance to an alt-coin in any of the posts in the topic.
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