Hi everyone,
Me, fi3 and Rachel Rybarczyk wrote a proposal for a payout scheme for the miners of a mining pool. We think that this is very important and underestimated problem. Now, the coinbase reward and fees are collected by the pool, that redistributes it to the miners as a payout for the mining. We think that such a centralization is against the spirit of Bitcoin, and it critical for security. Therefore, we tried to build a payout scheme through the concept of payment pools. The mining profits are collected by a payment pool set by the miners and in any phase the pool takes control of them. This makes the pool non custodial. We assume the pool to be centralized, even though our work perhaps can be generalized to decentralized pools. Our scheme uses ANYPREVOUT.
We posted it on bitcoin-dev mailing list
https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021610.html
I understand that it could be discouraging to approach a 30 pages long document, but if anyone took a look to it, it would be very important for us to have some feedback. Perhaps the IRC channel #bitcoin-contracting-primitives-wg or #coinpool-dev can be good places to discuss it, but I don't know when you are gonna meet. Any suggestion would be very appreciated.
Hi everyone, Me, fi3 and Rachel Rybarczyk wrote a proposal for a payout scheme for the miners of a mining pool. We think that this is very important and underestimated problem. Now, the coinbase reward and fees are collected by the pool, that redistributes it to the miners as a payout for the mining. We think that such a centralization is against the spirit of Bitcoin, and it critical for security. Therefore, we tried to build a payout scheme through the concept of payment pools. The mining profits are collected by a payment pool set by the miners and in any phase the pool takes control of them. This makes the pool non custodial. We assume the pool to be centralized, even though our work perhaps can be generalized to decentralized pools. Our scheme uses ANYPREVOUT. We posted it on bitcoin-dev mailing list https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2023-May/021610.html I understand that it could be discouraging to approach a 30 pages long document, but if anyone took a look to it, it would be very important for us to have some feedback. Perhaps the IRC channel #bitcoin-contracting-primitives-wg or #coinpool-dev can be good places to discuss it, but I don't know when you are gonna meet. Any suggestion would be very appreciated.