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Archived Proposals / Mass Adoption for BiblePay II
« on: November 29, 2018, 06:02:22 PM »
When voting please consider a non-technical investor who wants to mine- remember to consider a person that has a busy lifestyle that does not want to follow more than 1-2 steps before losing patience, and has no interest in learning any new acronyms.
With PODC - we would need to pull in developer resources to shield the user from acryonyms, and find a way to concentrate new user mining power to a boinc project with fair payment without exposing the user to technical terms and requiring them to monitor RAC on disparate sites. We also have quite a bit of infrastructure to support PODC: supporter pools, diagnostic tools, help desk answers, forum posts, etc. Consider the total barrier of entry and ongoing maintenance per user and for the codebase. Also consider the risks if BOINC changes the code, the interface, breaks or gets hacked.
With POG II - we would move back to our Proof-of-bible-hash style mining, on generally one machine per user (IE tither). People would be rewarded with mining rewards in a "pool" depending on how much they tithe to the orphan foundation per day. This solution would be more of a one-click setup, with the only decision needed by the end user to either manually tithe or set up an automatic tithe. The maintenance should technically be lower for both user questions and the IT codebase. There is not a chance of third party site being hacked or an oracle requirement. The 51% risk appears to be low (the same as PODC or lower, as long as sleep capability is well designed). One potentially large side benefit: Being possibly the first crypto with an integrated pool - and not requiring third party pools.
(Rob recently added a proof-of-giving difficulty algorithm to address the top 2 POG problems: Monthly tithe cap to prevent a massive monthly dump, and preventing a hacker from using a tithe script attack). With these two improvements, voting is being re-evaluated.
Please read this wiki:
https://wiki.biblepay.org/Proof-of-Giving-II
And this wiki:
https://wiki.biblepay.org/Proof-of-Giving-for-Beginners
With POOM - we decentralize our orphan sponsorships out to the individual miners. The miners are rewarded with an amount of biblepay that is carved out of the heat mining budget in relationship to their monthly private commitment amount. The downside to POOM is this requires a centralized API at orphanstats.com, and biblepay has the ability to log in and audit individual user compassion accounts. The plus is its very green, and diverts electric costs over to orphan sponsorships.
With IPFS - we require each user to make firewall rule changes, run a flavor of an IPFS server, allocate a portion of the hard drive, and we have the sanctuaries grade each miner on file hosting quality. The downside to this is: IPFS is still volatile, sometimes crashing on the pool server, the interface may change, the setup for a miner would be complicated, and we have no documentation for this complete yet, and we haven't finished the proof of concept. The positive side is its futuristic.
With PODC - we would need to pull in developer resources to shield the user from acryonyms, and find a way to concentrate new user mining power to a boinc project with fair payment without exposing the user to technical terms and requiring them to monitor RAC on disparate sites. We also have quite a bit of infrastructure to support PODC: supporter pools, diagnostic tools, help desk answers, forum posts, etc. Consider the total barrier of entry and ongoing maintenance per user and for the codebase. Also consider the risks if BOINC changes the code, the interface, breaks or gets hacked.
With POG II - we would move back to our Proof-of-bible-hash style mining, on generally one machine per user (IE tither). People would be rewarded with mining rewards in a "pool" depending on how much they tithe to the orphan foundation per day. This solution would be more of a one-click setup, with the only decision needed by the end user to either manually tithe or set up an automatic tithe. The maintenance should technically be lower for both user questions and the IT codebase. There is not a chance of third party site being hacked or an oracle requirement. The 51% risk appears to be low (the same as PODC or lower, as long as sleep capability is well designed). One potentially large side benefit: Being possibly the first crypto with an integrated pool - and not requiring third party pools.
(Rob recently added a proof-of-giving difficulty algorithm to address the top 2 POG problems: Monthly tithe cap to prevent a massive monthly dump, and preventing a hacker from using a tithe script attack). With these two improvements, voting is being re-evaluated.
Please read this wiki:
https://wiki.biblepay.org/Proof-of-Giving-II
And this wiki:
https://wiki.biblepay.org/Proof-of-Giving-for-Beginners
With POOM - we decentralize our orphan sponsorships out to the individual miners. The miners are rewarded with an amount of biblepay that is carved out of the heat mining budget in relationship to their monthly private commitment amount. The downside to POOM is this requires a centralized API at orphanstats.com, and biblepay has the ability to log in and audit individual user compassion accounts. The plus is its very green, and diverts electric costs over to orphan sponsorships.
With IPFS - we require each user to make firewall rule changes, run a flavor of an IPFS server, allocate a portion of the hard drive, and we have the sanctuaries grade each miner on file hosting quality. The downside to this is: IPFS is still volatile, sometimes crashing on the pool server, the interface may change, the setup for a miner would be complicated, and we have no documentation for this complete yet, and we haven't finished the proof of concept. The positive side is its futuristic.
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