Jorge Timón [ARCHIVE] on Nostr: 📅 Original date posted:2011-11-23 🗒️ Summary of this message: Proposed system ...

📅 Original date posted:2011-11-23
🗒️ Summary of this message: Proposed system for generating the most difficult block, but concerns raised about miners cheating the timestamp and lack of network clock.
📝 Original message:With the current system, the timestamp can also be cheated, but miners
have no direct incentive to do it. With your system, they increase
their probability of mining a block by putting a false timestamp.
Also, where's the network clock you're talking about? Isn't it the
timestamps in the blockchain?



2011/11/23, Andy Parkins <andyparkins at gmail.com>:
> On 2011 November 23 Wednesday, Jorge Timón wrote:
>> 2011/11/23, Andy Parkins <andyparkins at gmail.com>:
>> > Let's abandon the idea of a target difficulty. Instead, every node just
>> >
>> > generates the most difficulty block it can. Simultaneously, every node
>> > is listening for "the most difficult block generated before time T";
>> > with T being
>> > picked to be the block generation rate (10 minutes).
>>
>> A miner could try to obtain more difficulty out of time and cheat its
>> reported datetime (T).
>
> Just as with the current system.
>
> The defence is that on receipt of a block, its timestamp is checked against
> the node's own clock and averaged network clock. Blocks out of that band
> are
> rejected.
>
>
> Andy
> --
> Dr Andy Parkins
> andyparkins at gmail.com
>


--
Jorge Timón