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From: Aaradhya Chauhan <chauhanansh.me@gmail.com>
To: Peter Todd <pete@petertodd.org>,
	 Bitcoin Protocol Discussion
	<bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Regarding setting a lower minrelaytxfee
Date: Wed, 3 Aug 2022 21:10:34 +0530	[thread overview]
Message-ID: <CAGHFe1BsDnxn6nuoMwCtt56YjaXmT0mPZ6XnMJZpyC2Fa7e9aQ@mail.gmail.com> (raw)
In-Reply-To: <YufXK6ayn8ZcBzYN@petertodd.org>

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So, can we conclude by something, whether or not it would be possible and
feasible in the future?

On Mon, 1 Aug 2022 at 19:08, Peter Todd via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:

> 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
> wrote:
> > > 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
> compensation (e.g., in a sidechain, or an alt), and/or as a spam proof.
> Unfortunately, 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
> attach work.
> > It is considered contribution to the security (illegitimate chains can't
> include the txn), hence isrewarded by fee discount/exemption depending on
> the offset of the state they've committed to (the closer, the better) and
> the 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.
> >
> > 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
> leverge, because miners can easily do it locally, seizing the subsidies for
> themselves, 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
> event
> 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.
>
> --
> https://petertodd.org 'peter'[:-1]@petertodd.org
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>

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  reply	other threads:[~2022-08-03 15:40 UTC|newest]

Thread overview: 20+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2022-07-26  8:26 [bitcoin-dev] Regarding setting a lower minrelaytxfee Aaradhya Chauhan
2022-07-26 12:19 ` alicexbt
2022-07-26 14:27   ` Peter Todd
2022-07-26 19:14     ` alicexbt
2022-07-26 12:45 ` Peter Todd
2022-07-27  4:10   ` vjudeu
2022-07-27 11:50     ` Peter Todd
2022-07-27 12:18       ` vjudeu
2022-07-29  3:38   ` David A. Harding
2022-07-29 18:59     ` Aaradhya Chauhan
2022-07-30  7:55     ` Aaradhya Chauhan
2022-07-30 17:24       ` alicexbt
2022-08-01 10:30         ` Peter Todd
2022-08-01 13:19           ` aliashraf.btc At protonmail
2022-08-01 13:37             ` Peter Todd
2022-08-03 15:40               ` Aaradhya Chauhan [this message]
2022-08-03 17:07                 ` vjudeu
2022-08-03 18:22                   ` Aaradhya Chauhan
2022-08-04  1:21                     ` Billy Tetrud
2022-07-30 10:20     ` Peter Todd

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