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Date: Mon, 1 Aug 2022 09:37:47 -0400
From: Peter Todd <pete@petertodd.org>
To: "aliashraf.btc At protonmail" <aliashraf.btc@protonmail.com>
Message-ID: <YufXK6ayn8ZcBzYN@petertodd.org>
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Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Regarding setting a lower minrelaytxfee
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On Mon, Aug 01, 2022 at 01:19:05PM +0000, aliashraf.btc At protonmail wrote:
> > On Sat, Jul 30, 2022 at 05:24:35PM +0000, alicexbt via bitcoin-dev wrot=
e:
> > like a hashcash-based alternative broadcast scheme.
> Hi Peter,
> I've been mulling the idea of attaching work to low fee txns, both as a c=
ompensation (e.g., in a sidechain, or an alt), and/or as a spam proof. Unfo=
rtunately, both suffer from ASICs:
> For spam proof case, the adversary can easily buy a used/obsolete device =
to produce lots of spam txns very cheaply, unless you put the bar very high=
, making it almost impossible for average users to even try.
> The compensation scenario is pretty off-topic, still, interesting enough =
for 1 min read:
> Wallets commit to the latest blockchain state in the transaction AND atta=
ch work.
> It is considered contribution to the security (illegitimate chains can't =
include the txn), hence isrewarded by fee discount/exemption depending on t=
he offset of the state they've committed to (the closer, the better) and th=
e amount of work attached.
> For this to work, block difficulty is calculated inclusive with the work =
embedded in the txns, it contains. Sophisticated and consequential, yet not=
infeasible per se.
>=20
> Unfortunately, this scheme is hard to balance with ASICs in the scene too=
, for instance, you can't subsidize wallets for their work like with a leve=
rge, because miners can easily do it locally, seizing the subsidies for the=
mselves, long story, not relevant just ignore it.
We're not talking about a consensus system here. Just a way to rate-limit
access to a broadcast network used by a small minority of nodes. It's
completely ok to simply change the PoW algorithm in the _highly_ unlikely e=
vent
someone bothers to build an ASIC for it. Since this isn't a consensu system,
it's totally ok if multiple versions of the scheme run in parallel.
--=20
https://petertodd.org 'peter'[:-1]@petertodd.org
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