Bible Pay

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  • Rob Andrews
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    • June 05, 2017, 08:09:04 pm
    • Patmos, Island Of
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Release POG Mining to Prod
« on: January 19, 2019, 04:10:00 pm »
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.