Hi Michael,
Your proposal won’t save any energy because it does nothing to decrease the budget available to mine a block (being the block reward).
Even if it were technically possible to find a way for nodes to somehow reach consensus on a hash that gets generated after 9 minutes, all it achieves is that miners will be expending the entire budget given to them in the form of the block reward within a single minute on average.
Also please realize that the energy expenditure of Bitcoin is a fundamental part of its design. An attacker has no other option than to expend as much as half of all the miners together do in order for a sustained 51% attack to be successful, making such attack uneconomical.
Zac
Hello,
Bitcoin should create blocks every 10 minutes in average. So why do
miners need to mine the 9 minutes after the last block was found? It's
not necessary.
Problem: How to prevent "pre-mining" in the 9 minutes time window?
Possible ideas for discussion:
- (maybe most difficult) global network timer sending a salted hash time
code after 9 minutes. this enables validation by nodes.
- (easy attempt) mining jobs before 9 minutes have a 10 (or 100 or just
high enough) times higher difficulty. so everyone can mine any time but
before to 9 minutes are up there will be a too high downside. It is more
efficient to wait then paying high bills. The bitcoin will get a "puls".
I dont think I see all problems behind these ideas but if there is a
working solution to do so then the energy fud will find it's end. Saving
energy without loosing rosbustness.
:)
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