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braidpool
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braidpool
@braidpool
Official account for the braidpool decentralized Bitcoin mining software. Decentralize share accounting, payout, and tx selection. https://t.co/BMk6ZnEfim
Earth Inscrit le Mayıs 2019
83 Abonnements995 Abonnés
@boyacaxa @bitcoincoreorg We'll do that too. Part of this analysis is to figure out WHICH covenant works for Braidpool, and it's not CTV, unfortunately. We'll champion CCV soon.
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@braidpool Instead you should both push soft forks into @bitcoincoreorg
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We're super excited about Binohash and have a proposal to use it to enable Braidpool payouts. What do you think? (CCV/MATT is the correct covenant opcode for Braidpool, not CTV)
discord.com/channels/12704…
Robin Linus@robin_linus
Binohash: Transaction Introspection Without Softforks A first transaction has been mined demonstrating a limited form of covenants using only existing Bitcoin script functions. This development potentially eliminates the need for a Bitcoin light client in BitVM bridges, simplifying the construction and improving security. We hope this development furthers research on the possibility of creating introspection and covenants-style functionality on Bitcoin without the need for softforks, and advances discussions on the usability of covenants in Bitcoin and the use-cases they enable. Many thanks to everyone at @idealgroup, as well as @PortlandHODL and the Slipstream team at @MARA for patching their nodes to mine these wacky transactions. Full paper in the comments 👇
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Braidpool needs more stars so I can get the Claude 20x Max plan!
github.com/braidpool/brai…
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BitVM may be a very, very good solution to ensuring payouts are correct in Braidpool. Join our discord if you want to work on this, HELP WANTED!
Robin Linus@robin_linus
BitVM2 made Bitcoin bridges possible. BitVM3 cut on-chain costs by 1,000x with garbled circuits. Now @liameagen's breakthrough scheme, Argo, cuts off-chain costs by another 1,000x—making off-chain computation on Bitcoin truly efficient and practical. 👷🏻♂️👷🏻♂️👷🏻♂️
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Here it is. We dug it up for you. Some of the earliest work on Braids.
x.com/BobMcElrath/st…
Bob McElrath@BobMcElrath
The future of blockchain is Braids.
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braidpool retweeté
⛏️ Traditional mining pools rely on a central authority, making co-option possible
@braidpool is a P2P pool where miners collaboratively build blocks without a central operator
HRF supports dev @zaidmstrr to contribute to a more decentralized & transparent mining model
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Congratulations to @zaidmstrr for receiving a grant to work on Braidpool! The Audit Mode he's been working on supports the creation of a hashrate derivatives market, a key piece of infrastructure in bitcoin that most mature commodities markets have.
#braidpool" target="_blank" rel="nofollow noopener">opensats.org/blog/fifteenth…
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@RealFinOfficial @BobMcElrath @aeonBTC @DMND_Sv2 @ocean_mining TL;DR Braidpool needs a healthy and active derivatives market for hashrate, because trading shares is how we will emulate FPPS. Holding a share is a forward contract and the miner will be able to sell it. This derivatives market is bigger than Braidpool.
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@RealFinOfficial @BobMcElrath @aeonBTC @DMND_Sv2 @ocean_mining Here's some more details on audit mode and why we wanted to create it
#auditing-the-miner" target="_blank" rel="nofollow noopener">github.com/braidpool/brai…
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We apologize if our messaging was unclear. To be direct: DMND is a KYB-compliant bitcoin mining pool strictly for registered businesses.
For individual home miners seeking job declaration, we recommend @Ocean_Mining.
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@keegreil Yes that would be my guess - higher variance than PPLNS. It comes down to (1) how many blocks your pool wins and (2) sampling rate of shares. By having a low sampling rate of shares you can introduce an additional variance. Share variance is the sqrt(num_samples).
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This is an important question. Boot Protocol does not attempt to track miner hashrate closely, and does introduce more variance than a standard PPLNS model. But, it does statistically approximate PPLNS, using less data and bandwidth, which solves other problems. AI summary:
braidpool@braidpool
@keegreil @Otoya_Coinjoin @aeonBTC @Printer_Gobrrr @p2poolv2 Also it's very important that the measure of hashrate is given by the *target* not the hash value. (Sometimes called "luck") It sounds like you want to use luck for payouts. There are known problems with that...
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@JBeddict @TheBlueMatt There's reason to believe some parties will still choose centralized pools then in the presence of a "perfect" decentralized pool for business reasons. Several pools use the pool to monitor loans to miners. We want to be useful here even if they're not using the "real" Braidpool
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@JBeddict @TheBlueMatt It's not announced or documented yet. There's a PR for it if you want to look at that. The idea being that the DAG of shares is public information and easy to audit. Would love to hear about other audit methods though!
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Congratulations to DMND! Everyone should be using either DMND or OCEAN until Braidpool is online.
But, you shouldn't 𝐰𝐚𝐧𝐭 to build your own blocks. Because someone else on the same pool is building a less profitable block than yours.
Braidpool will fix this.
DMND@DMND_Sv2
DMND Pool Now Open To All Miners, With SOC 2 Compliance and Stratum V2 Support bitcoinmagazine.com/bitcoin-mining… via @bitcoinmagazine
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@JBeddict @TheBlueMatt How do they know the shares are yours? And how do they know that the claimed payout algorithm is the one used without auditing the pool itself?
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@braidpool @TheBlueMatt To be clear I am super stoked for braidpool, I want you to succeed, and I hate defending fpps…
But fpps is demonstrable to a third party auditor. Our entire pool and fpps implementation is built around that fact. We service the largest pubcos with no issues
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@TheBlueMatt It's impossible to prove that audit to a 3rd party though. This is what Braidpool audit mode adds: the ability to prove to a creditor, customer, or investor that you're satisfying your obligations.
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@braidpool See jay's responses, but honestly I'm really confused what you're talking about. FPPS is really trivial to audit, given a number of submitted/accepted shares and publicly-available data you can calculate the exact expected payout.
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@TheBlueMatt And FPPS is NOT "trivially auditable" -- you can't know the denominator of how many other miners are contributing, and most miners tell me they're taking a 7-8% haircut compared to published fees.
Our auditability may be our killer feature.
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@TheBlueMatt Oh believe me I'm not missing that risk.
The risk is so substantial that I think miners underestimate it... Just because we haven't seen a crash due to pool mismanagement doesn't mean we won't or can't. Absence of evidence is not evidence of absence.
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