gridcoin-community / Gridcoin-Tasks

Gridcoin community tasks repository
https://gridcoin.us
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proposal: Beacon Minting #172

Closed tomasbrod closed 5 years ago

tomasbrod commented 6 years ago

I propose that in addition to coins keys, one can mint with the beacon keys with different difficulty and research based weight. The kernel is in the formula below, but we need to talk about weight and difficulty computation more.

ProofHash = H( BeaconPubKey + StakeModifier + nTimeTx );

Weight for this kind of stake can depend on the owed amount or current magnitude or some combination of both. This is yet to be decided.

Single CPID/beacon is allowed to mint only if the last reward (either via standard PoS or this beacon mint) to that CPID was more than x (30) hours ago.

Difficulty is computed using the standard mechanism. The target block time for beacon mint is set to x (12) minutes. But there must be at least 4 standard PoS blocks in between.

Rewards to a CPID are tracked the same way for both PoS and this mint. What is rewarded in this new block is not in standard PoS blocks. Established miners are expected to have high balance and thus get all reward in PoS