Bible Pay

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  • Rob Andrews
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    • June 05, 2017, 08:09:04 PM
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Jan 2020 POBH and Integrity update
« on: January 19, 2020, 09:04:03 AM »
This proposal seeks authorization to make the changes necessary to release an emergency update to fix POBH.  As it was recently reported that Marcino ported POBH into a GPU.

This proposal seeks to change and clarify the following items:

- We will add a nonce limit for POBH hashing to limit the hasher to 256 hashes per second per miner.  This can be enforced, because the block start time is known in a hard way, and the last block time is known in a hard way.  Additionally, we enforce that the only field the miner can change is the nonce and start timestamp, and any other field that is changed results in a new block being created (and this requires many calculations for chainlocks, llmq, transaction lists, and recalculation of the merkleroot). 
    *** NOTE :  We will not limit CPU mining to 256 HPS, however.  When the miner is faster, the miner will create more blocks per minute.   Automatically.  ***
- It is a given that recalculating the merkle root requires more work than calculating more POBH hashes.
- Therefore the conclusion is that this interim release will remove the GPU risk from our POBH algorithm.
- We will still work on the next generation miner after this release, therefore this is a temporary stopgap for POBH to keep it running in a quality fashion.
- We seek to    shore up our emission deflation rate to match the target emission as of Dec 2020 (http://wiki.biblepay.org/Emission_Schedule).  This means we will for the time being increase our deflation rate to .0216 aiming to match the year end emission target.  We will monitor the situation afterwards and if necessary put it back to .0167 when the target is met (in a future mandatory).  In summary we are increasing our deflation rate to ensure we emit the exact proper amount of coins in total from inception until Dec 2020. 
- We seek to fix DWS.  This requires two changes:  At the mandatory cutover height, installing new rules that increase the sensitivity of the DWU reward.  This first change ensures that as burns take place, the wallet decreases the DWU quicker (saving more of the kitty for the next user).  Additionally we seek to reduce the maximum DWU to 35% of the original design (making more available to each individual user).  To accomplish this we must also adjust the DWS emissions to match the target emission schedule (4mm per month deflating starting in 2020).  The good news is DWS phase 1 had too low of an emission set-up so this is not really an issue - it means correcting the parameter to the intended value.
We will monitor DWS emissions - and ensure globally, DWS does not materially change the total emission schedule picture.  The goal is to flush out DWS phase 1 payments, allow Phase 2 to be established and ensure all factors are correct at the end of this year - and if necessary adjust the final DWS emissions level in the Sept-Dec 2020 mandatory to match our global emission schedule and DWS schedule as outlined in the prior point.
- Update the investors on the total orphan portfolio along with what is available at compassion.  Since we technically still have compassion funds, we are still above 100 orphans per month; but we need to be clearer.
- Clarify our stance on what the DAC and Biblepay charity agent proposal is, and that it is not expected to effect our charity emission level.  Clarify that our charity emission level target is still, and is expected to be 10% per month.  Clarify the complete idea - to explain that we do not veer from launch params and
 how we seek to continually work in integrity.




 
      
« Last Edit: January 19, 2020, 01:08:27 PM by Rob Andrews »