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I don't understand who does all the turing complete contract computation. Presumably the miners, but they're paid to do some useless proof-of-work work, not the
by jaekwon 13y ago
I don't understand who does all the turing complete contract computation. Presumably the miners, but they're paid to do some useless proof-of-work work, not the turning complete computation of the contract.
- maaku 13y agoThe fee goes to the miner who happens to find the containing block, yes. But not to the thousands of validating nodes integral to the network. And over time fees are given proportional to hashpower... which doesn't make any kind of sense. The incentives are all messed up.
- jaekwon 13y agoHey, I like your assessment ability. Contact me at jkwon.work@gmail.com, I have an idea I want to share with you.
- waterlesscloud 13y agoAre you the same guy who called the bitcoin peak perfectly in April on irc?
- kordless 13y agoThere aren't thousands of validating nodes. All nodes are computing on jobs in the system. The incentive is you get paid for processing code for someone. It's a trusted cloud framework with payment built in. The Dagger page is down. That'll have the detail on the rewards details for compute.
- jaekwon 13y agoDo you have the text for the dagger page?
- jnbiche 13y agoThe dagger page is cached by google here. Note that this is from 29 Dec and has probably been significantly updated since. But here it is for what it's worth: http://webcache.googleusercontent.com/search?q=cache:0RAOB-MxiDgJ:wiki.ethereum.org/index.php/Dagger&hl=en&gl=us&strip=1 http://webcache.googleusercontent.com/search?q=cache:0RAOB-M... I don't see anything regarding compute rewards here. It's all about the mining PoW. If all nodes are validating the Turing-complete scripts, and only the miners are getting paid, how does that work? What am I missing?
- tromp 13y agoDagger appears to be inferior to the Cuckoo Cycle proof of work system I recently developed; see https://github.com/tromp/cuckoo https://github.com/tromp/cuckoo Cuckoo Cycle is a new proof of work system with the following features 1) proofs take the form of a length 42 cycle in the Cuckoo graph, so that verification only requires computing 42 hashes. 2) the graph size (number of nodes) can scale from 1x2^10 to 7x2^29 with 4 bytes needed per node, so memory use scales from 4KB to 14GB 3) running time is roughly linear in memory, at under 1s/4MB 4) there is no time-memory trade-off, and memory access patterns are the worst possible, making the algorithm constrained by memory latency 5) it has a natural notion of difficulty, namely the number of edges in the graph; above about 60% of size, a 42-cycle is almost guaranteed, but below 50% the probability starts to fall sharply
- nazgulnarsil 13y ago