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Reminds me of Adam Back's hashcash[1], which was originally devised for similar purposes and was cited in Satoshi's Bitcoin paper[2]. Bitcoin's PoW scheme is a
by woadwarrior01 5y ago
Reminds me of Adam Back's hashcash[1], which was originally devised for similar purposes and was cited in Satoshi's Bitcoin paper[2]. Bitcoin's PoW scheme is a sightly embellished version of hashcash. I wish this work cited it too.
[1]: http://www.hashcash.org/papers/hashcash.pdf http://www.hashcash.org/papers/hashcash.pdf
[2]: https://bitcoin.org/bitcoin.pdf https://bitcoin.org/bitcoin.pdf
- tromp 5y agoThis is using the hashcash PoW. The use of scrypt as underlying hash function is a rather poor choice though, as scrypt's memory hardness makes PoW verification unnecessarily expensive. To limit the damage, a rather small memory footprint is used for scrypt. It's perfectly possible to make a memory hard PoW that's instantly verifiable, by using something other than hashcash. Examples include Cuckoo Cycle [1], and Equihash [2]. These can easily be made to use hundreds of MB in solving, while verification is memory less. [1] https://github.com/tromp/cuckoo https://github.com/tromp/cuckoo [2] https://en.wikipedia.org/wiki/Equihash https://en.wikipedia.org/wiki/Equihash