Bible Pay

Read 307 times

  • Rob A.
  • Administrator

    • 1022


    • 15
    • June 05, 2017, 08:09:04 pm
    • Patmos, Island Of
    more
PROPOSAL : Proof-Of-Loyalty
« on: January 20, 2018, 11:43:01 am »
All, recently what appears to be either a harmless mining organization with a lot of nodes, or a botnet has taken over the majority of the hashpower of our network. 

In an attempt to stave off the botnet, I propose an extension to our hash algorithm called proof-of-loyalty.

It makes our PoBH algorithm a hybrid, as the blocks become easier to solve as you accrue more coin-age.

Please see this wiki page for the background information and most technical information:

http://wiki.biblepay.org/Proof_Of_Loyalty


This feature also helps us straighten the path to eventually mine on mobile devices, as this miner will eventually solo mine a block with enough coin-age without much hashing.



I personally believe rewarding investors and our loyal community members with more rewards and the propensity to solve a block by those in the light will prove to be a positive addition to biblepay, and will allow us (to have) more control during the software upgrade process.



Although this feature has taken more than 40 hours to code in the core client, I am asking for a flat 100,000 BBP reward for this to be voted and merged in to the core client.




  • jaapgvk
  • Sr. Member

    • 411


    • 15
    • September 01, 2017, 08:02:57 pm
    • Netherlands
    more
Re: PROPOSAL : Proof-Of-Loyalty
« Reply #1 on: January 21, 2018, 01:32:12 pm »
I think this is a big step forward in the evolution of the BiblePay algorithm. Thank you for all your hard work Rob, and I'll absolutely fund this.


  • anty
  • Newbie

    • 6


    • 0
    • January 30, 2018, 08:35:04 am
    more
Re: PROPOSAL : Proof-Of-Loyalty
« Reply #2 on: January 30, 2018, 09:07:54 am »
This concept is a good idea but I worry about the implementation.  How do you calculate coin age with coins of varying age?  A weighted average would probably be the fairest outcome.  Even with that, when you are receiving and sending coins would you be able to select which coins you are sending?  Would we be doing FIFO or LIFO or could you choose? If it's FIFO it may discourage transactions while LIFO may not.  Just some things to think about. 


  • Rob A.
  • Administrator

    • 1022


    • 15
    • June 05, 2017, 08:09:04 pm
    • Patmos, Island Of
    more
Re: PROPOSAL : Proof-Of-Loyalty
« Reply #3 on: January 30, 2018, 01:18:14 pm »
This concept is a good idea but I worry about the implementation.  How do you calculate coin age with coins of varying age?  A weighted average would probably be the fairest outcome.  Even with that, when you are receiving and sending coins would you be able to select which coins you are sending?  Would we be doing FIFO or LIFO or could you choose? If it's FIFO it may discourage transactions while LIFO may not.  Just some things to think about.
Welcome aboard thanks for the great question Anty!

Nice ideas there! 

Anyway, the current calculation method is as follows:

Out of the Stakeable Coin Set (these are coins > 24 hours old and unlocked):

We loop through each UTXO
We check its age in days
We check its Amount In CAmount

We multiply Age * Amount to arrive at individual UTXO CoinAge.

We then increment the Sum of the Total += IndividualCoinAge.

We continue Looping.

We finish counting the set.


So right now your Total Coin Age is actually "Each" Coins CoinAge summed together.