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Why is CPU mining a plus?

by habosa 13y ago

dteoh 13y ago
Less computation power required to store new data.
maaku 13y ago
Greater vulnerability to botnet operators? Higher costs for proof of work validation? Widely varying computational costs? Oh wait, those aren't advantages.
hendzen 13y ago
The goal of CPU mining is to making it difficult for well-funded parties to control the network's hashpower by amassing powerful GPU/FPGA/ASIC miners. If you look at the distribution of hashpower [0] in the Bitcoin network, you can see that two pools (GHash.io and BTC Guild) together control a majority of the network. To be fair, many believe that this is nonetheless incentive-safe because the gains from executing double-spends would be small compared to the lost mining revenue from the subsequent massive drop in value of BTC. That said, there was a double spend executed by a rogue operator of GHash.io [1]. [0] - https://blockchain.info/pools https://blockchain.info/pools [1] - https://bitcointalk.org/index.php?topic=321630.msg3445371#msg3445371 https://bitcointalk.org/index.php?topic=321630.msg3445371#ms...
madgenius 13y ago
because of how proof of storage is performed by a distributed network of computers. proof of storage by a decentralized network is really almost identical to proof of work. the stored data keeps getting encrypted to generate a random string, and then a computer has to find a challenge string that when hashed with the encrypted data file creates an output of a string of zeroes (for the proof). Essentially, storage is proved over a period of work rather than a period of time. The additional computational power for increased hashing rate doesn't mean the data was stored longer, only that the server storing the information had more processing power. If the function is being performed with storage in mind its better to use CPUs. (1kb / 30 seconds) * (1 second / 10000 MH) ...filed stored for 30 seconds (1kb / 30 seconds) * (1 second / 100 GH) ...filed still only stored for 30 seconds the work performed is redundant in proof of storage

Why is CPU mining a plus?

by habosa 13y ago

Why is CPU mining a plus?

dteoh 13y ago

Less computation power required to store new data.

maaku 13y ago

Greater vulnerability to botnet operators? Higher costs for proof of work validation? Widely varying computational costs? Oh wait, those aren't advantages.

hendzen 13y ago

The goal of CPU mining is to making it difficult for well-funded parties to control the network's hashpower by amassing powerful GPU/FPGA/ASIC miners. If you look at the distribution of hashpower [0] in the Bitcoin network, you can see that two pools (GHash.io and BTC Guild) together control a majority of the network. To be fair, many believe that this is nonetheless incentive-safe because the gains from executing double-spends would be small compared to the lost mining revenue from the subsequent massive drop in value of BTC. That said, there was a double spend executed by a rogue operator of GHash.io [1]. [0] - https://blockchain.info/pools https://blockchain.info/pools [1] - https://bitcointalk.org/index.php?topic=321630.msg3445371#msg3445371 https://bitcointalk.org/index.php?topic=321630.msg3445371#ms...

madgenius 13y ago

because of how proof of storage is performed by a distributed network of computers. proof of storage by a decentralized network is really almost identical to proof of work. the stored data keeps getting encrypted to generate a random string, and then a computer has to find a challenge string that when hashed with the encrypted data file creates an output of a string of zeroes (for the proof). Essentially, storage is proved over a period of work rather than a period of time. The additional computational power for increased hashing rate doesn't mean the data was stored longer, only that the server storing the information had more processing power. If the function is being performed with storage in mind its better to use CPUs. (1kb / 30 seconds) * (1 second / 10000 MH) ...filed stored for 30 seconds (1kb / 30 seconds) * (1 second / 100 GH) ...filed still only stored for 30 seconds the work performed is redundant in proof of storage