stan.distortion
Well-known member
Sideline of a point from the "Can you think of a project to fund?":
https://dashtalk.org/threads/can-you-think-of-a-project-to-fund.6385/page-3#post-70868
Created another thread because it's something I'd wondered about, if quorums can offer a high degree of security will mining loose importance? That sounds like mining can be removed altogether, I don't know anything like enough to answer that but considering the significance of Satoshis innovation and the importance of mining in that network it seems too good to be true. I guess one question I'd have is what happens if someone has enough mining power to hijack the blockchain and ignore the masternodes or all but mastenodes under their control?
EDIT: The thread mentioning setting up mining:
https://dashtalk.org/threads/how-can-we-stop-xy2lkjjdeqxeyhrn4tgdqb8bjhvfedauv7-lol.6381/
https://dashtalk.org/threads/can-you-think-of-a-project-to-fund.6385/page-3#post-70868
A Dash mining farm.
Saw your post on the same in one of the hash rate distribution threads and was wondering about this one, initially it seemed entirely inappropriate for a coin to fund it's mining but on reflection it would close the loop and make Dash entirely self-sustaining, nothing stopping others mining but it would be able to handle its own security without.
Wouldn't agree with a project to fund that yet though as it simply isn't big enough for an undertaking that would produce enough hashes for a sizeable percentage of the existing hashrate but imo it's certainly something worth getting some active discussion going on and looking at the feasibility from all angles.
Something I'd looked at in the past before ASICs raised the bar with Bitcoin was ideal spots for renewables that are infeasible for connecting to the grid, hydro's the ideal and there are almost unlimited locations with masses of energy available that would require too many miles of power lines to be usable. It'd be easy to set up small in that kind of location and test the waters (no pun intended ), get a small outfit going and find a source of cheap or free obsolete PCs and keep stacking them up, get more locations and do the same, eventually you'd have a huge and distributed capacity that could switch roles to a beowulf array, host dedicated miners, all sorts with absolutely zero power costs.
What security?
That's the amazing thing here--Evan is changing everything we thought we knew about crypto. There is no longer a need for network security in terms of a high and distributed hashrate. Dash Evolution will make 51% attacks impossible by defaulting every transaction to InstantX and thus making a confirmationless wallet. The masternodes will consequently secure the network through IX quorums.
The miners will still be creating the blocks, but the actual security will come from the masternode quorums that lock all transactions by default. Once locked by a quorum, even the winning miner cannot create a doublespend. The network would reject any such block.
Created another thread because it's something I'd wondered about, if quorums can offer a high degree of security will mining loose importance? That sounds like mining can be removed altogether, I don't know anything like enough to answer that but considering the significance of Satoshis innovation and the importance of mining in that network it seems too good to be true. I guess one question I'd have is what happens if someone has enough mining power to hijack the blockchain and ignore the masternodes or all but mastenodes under their control?
EDIT: The thread mentioning setting up mining:
https://dashtalk.org/threads/how-can-we-stop-xy2lkjjdeqxeyhrn4tgdqb8bjhvfedauv7-lol.6381/
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