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SpaceWorksCo / roadmap

Roadmap for Spacecoin (SPACE).
https://spaceworks.co/spacecoin/roadmap
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Delayed Proof of Work (dPoW) #7

Open lightspeed393 opened 3 years ago

lightspeed393 commented 3 years ago

Delayed Proof of Work is a security method developed by Komodo that recycles the giant hash rate of the Bitcoin network through a series of cross-chain notarizations.

To learn more more visit: https://komodoplatform.com/delayed-proof-of-work/ https://blog.komodoplatform.com/delayed-proof-of-work-explained-9a74250dbb86 https://developers.komodoplatform.com/basic-docs/start-here/core-technology-discussions/delayed-proof-of-work.html

To enable dPoW for SPACE there are 2 options that need to be discussed by the community.

Option 1. Get SPACE added to Komodo Platform's Notary Node network.

This option would be best because we'd have a tested and reliable network of 64 notary nodes decentralized around the world. The downside is that this option requires a yearly security fee of $5000 to the Komodo Team. Since SPACE is a fair start decentralized coin, there is no built in fund to pay for this fee. Community fundraising of some sort would be required to pay for this.

Option 2. Create SPACE's own Notary Node network.

This would require finding a group of individuals in the SPACE community with the ability to properly operate a Notary Node. The downside to this option is that SPACE has no incentive for NN operators like KMD does with easy-mining. We'd need to find a way to interest operators and keep them notarizing long term.

Please leave comments and feedback on the options below.

cryptodigi commented 3 years ago

i would suggest option 2

lightspeed393 commented 3 years ago

I have done a bit of testing and research into running our own Notary Network, but for now this issue is on hold.

As SPACE currently stands dPoW is not a top priority or really feasible.

1st. I believe the community needs to grow more to even find 64 people who could reliably run a Notary Node. I'm not in favor of lowering the required signatures to run the network with 16 or 32 nodes as it makes the system more centralized.

2nd. There is still no incentive for NN operators to participate. In the future if there were an influx of other smartchains looking for dPoW that were also unwilling to pay KMD team the yearly security fee, then we could possibly incorporate these coins and charge them a much lower value. These funds could be equally divided by all NN operators, but as things currently stand that doesn't appear to be something other coins are looking for.

I'm still open to others opinions/contributions/etc regarding dPoW and plan to incorporate it at some point in the future. At this stage of SPACE's life, I find it more important to focus on things that will help increase it's recognition and userbase to make things like dPoW more feasible down the road.