This proposal authorizes the BiblePay Dev Team to release a mandatory upgrade that includes a change to our primary mining algorithm:
We will switch our primary heat mining algorithm to POG (Proof-of-Giving), which includes our existing POBH (proof of bible hash) heat mining algorithm, but changes the payout mechanism to use an in-wallet pool.
This means that 80% of the Heat Mined Rewards (POW) will go into the POG pool (in contrast to being given to the POW miner who mined the block).
20% of the Heat Mined Rewards (POW) will be given to the Reaper (the one who mined the block).
BiblePay POBH has an inherent 51% attack prevention mechanism called nonce-limiting that helps prevent a 51% attack. We also have DGW (Dark Gravity Wave).
On a related side-note, in the future, we plan on implementing the 51% attack eliminator (being released in Evolution) which is technically viable since we have Sanctuaries, therefore we embrace the idea.
This proposal does not eliminate the PODC (proof-of-distributed-computing) budget - we will enter a separate proposal for that.
Specifics:
In approximately 30 days our mandatory release will enable us to go live with POG. This proposal authorizes POG daily pool payments to go live with the characteristics outlined above.
