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<feed xmlns="http://www.w3.org/2005/Atom">
<id>2</id>
<title>Combined summary - Fastest-possible PoW via Simple DAG</title>
<updated>2025-01-05T02:25:52.439650+00:00</updated>
<updated>2025-01-06T02:22:59.228925+00:00</updated>
<author>
<name>zawy 2025-01-04 23:43:19.353000+00:00</name>
<name>pmn 2025-01-05 11:36:35.625000+00:00</name>
</author>
<author>
<name>ajtowns 2025-01-04 08:10:18.927000+00:00</name>
<name>zawy . 2025-01-04 23:43:19.353000+00:00</name>
</author>
<author>
<name>ajtowns . 2025-01-04 08:10:18.927000+00:00</name>
</author>
<author>
<name>mcelrath . 2025-01-03 17:05:07.824000+00:00</name>
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<author>
<name>zawy . 2024-12-22 15:14:50.752000+00:00</name>
</author>
<link href="delvingbitcoin/Jan_2025/3971_Fastest-possible-PoW-via-Simple-DAG.xml" rel="alternate"/>
<link href="delvingbitcoin/Jan_2025/3967_Fastest-possible-PoW-via-Simple-DAG.xml" rel="alternate"/>
<link href="delvingbitcoin/Jan_2025/3959_Fastest-possible-PoW-via-Simple-DAG.xml" rel="alternate"/>
<link href="delvingbitcoin/Jan_2025/3947_Fastest-possible-PoW-via-Simple-DAG.xml" rel="alternate"/>
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<entry>
<id>2</id>
<title>Combined summary - Fastest-possible PoW via Simple DAG</title>
<updated>2025-01-05T02:25:52.439761+00:00</updated>
<updated>2025-01-06T02:22:59.229039+00:00</updated>
<link href="https://delvingbitcoin.org/t/fastest-possible-pow-via-simple-dag/1331" rel="alternate"/>
<summary>The analysis begins by addressing the intricacies of Braidpool's approach to managing blockchain consensus and difficulty adjustments, emphasizing the algorithm's unique handling of latency and its implications for block orphan rates. It delves into the mathematical underpinnings and operational specifics of the Nb/Nc Dynamic Adjustment Algorithm (DAA), showcasing its efficiency in maintaining network stability even amid significant latency variations among miners. By focusing on a broader spectrum of blocks, including grandparents and great-grandparents, the DAA adeptly aligns the difficulty level with the optimal Nb/Nc ratio, thus ensuring consistent block generation times without disproportionately penalizing miners experiencing higher latencies.

Further examination reveals an innovative strategy aimed at mitigating the challenges posed by high-latency transactions within the Directed Acyclic Graph (DAG) framework. This includes a proposal to exclude beads exhibiting abnormally high latency from compensation, thereby incentivizing miners to maintain low latency levels. The methodology for determining bead latency, based on median timestamps of a bead's children and parents rather than the miner's timestamp, aims to create a fairer and more manipulation-resistant system. Additionally, the discussion touches upon the implementation of deterministic block templates and UTreeXO for efficient mempool management, highlighting ongoing efforts to refine these systems through community collaboration and open-source development.
<summary>The email discussion provides an in-depth analysis of the challenges and proposed solutions for adjusting difficulty within a consensus system, specifically in the context of Braidpool. It begins by addressing the expected orphan rate in a global Braidpool scenario, suggesting that beads need to be significantly easier to produce than initially estimated to achieve a desirable orphan rate. The mathematical foundation underlying the proposed difficulty adjustment algorithm (DAA) is explored, focusing on balancing solvetimes against mean latency. This balance is crucial as it remains relatively unaffected by the hash rate but is sensitive to the distribution of latency across the network. The discussion critiques another developer's suggestion regarding high-latency transactions, proposing instead that these should not be excluded or penalized but assessed through additional timing metrics to ensure fairness without incentivizing undesirable mining behavior.

The discourse also navigates the complexities of validating DAG chains and distributing rewards through weak blocks, pointing out the potential of Utreexo-based nodes to streamline the update process for the UTXO set database. This solution is presented as a means to alleviate the storage and computational burdens associated with maintaining multiple branch states and mempool versions, suggesting that alternative node implementations, such as Libbitcoin, might offer more adaptable frameworks for handling DAG configurations.
The conversation moves towards the implementation of deterministic block templates to enhance transaction and block template data propagation. This method negates the need for sharing transaction or block template data across shares, allowing computations to be independently performed by all nodes. The exploration into cluster mempool management and UTreeXO as potential solutions emphasizes the necessity of efficient methods for performing diff/merge operations between the mempools of different beads. Furthermore, the challenges of fully validating a Directed Acyclic Graph (DAG) chain with current Bitcoin Core architecture are highlighted, suggesting Utreexo-based nodes as a promising solution to reduce storage burden and manage multiple blockchain branches efficiently.

A critical look at the adjustment of blockchain difficulty algorithms reveals attempts to address "excess grandparents" and latency inequality by fine-tuning the difficulty adjustment based on the presence of grandparent references relative to a benchmark of three parents per block. This nuanced approach reflects a deep understanding of the interplay between miner latency and network dynamics, underscoring the need for continued innovation in algorithm design to ensure equitable participation across the mining community.
The dialogue also touches upon a specific strategy for managing Bitcoin orphan rates and contrasts this approach with another suggested by @sipa, focusing on influencing the network by targeting a specific number of parent blocks. Additionally, the document delves into a novel approach to difficulty adjustment in blockchain systems using graph theory principles, aiming to mitigate latency impacts without excessively penalizing miners. This model seeks to reward miners proportionally to their work while managing latency to discourage geographical centralization.

In contrast to conventional methods that adjust difficulty based solely on hashrate or time intervals, the discussion advocates for a graph theory-based model that focuses on the average width of the DAG. By targeting a specific number of parent blocks, this model seeks to regulate the orphan rate effectively, offering a fresh perspective on balancing network security and miner fairness. The exploration of different algorithms' responses to changes in hashrate and latency highlights the trade-offs between computational efficiency and adaptability, presenting the Simple Moving Average (SMA) and Nb/Nc method as notable contenders in achieving optimal network conditions.
Further, the discussion covers the practicality implications of using a constant latency value in peer-to-peer network operations within adversarial environments such as cryptocurrency mining. The critique revolves around the variability of latency based on geographic location and the potential optimization through strategic colocation of resources. Moreover, the conversation extends into hypothetical scenarios involving interplanetary mining contexts, highlighting the complexities and adaptability required in managing latency across vastly different operational environments.

Lastly, the document sheds light on the broader implications of adopting a DAG-based consensus mechanism, comparing it to the Avalanche protocol in terms of how both manage waste to secure decentralization. This analysis provides insights into the inherent costs associated with distributed security, pointing towards a future where efficiency, security, and decentralization are more closely aligned. Through a combination of theoretical exploration and practical application, the discussions encapsulate the evolving landscape of blockchain technology and the continuous pursuit of more scalable, secure, and efficient consensus algorithms.</summary>
<published>2025-01-04T23:43:19.353000+00:00</published>
In summary, the emails explore various facets of blockchain technology, from difficulty adjustments and data propagation methodologies to the management of latency and orphan rates. These discussions reflect a deep engagement with both theoretical concepts and practical implementations, indicating a vibrant dialogue among developers aimed at enhancing the efficiency, security, and fairness of decentralized networks.</summary>
<published>2025-01-05T11:36:35.625000+00:00</published>
</entry>
</feed>
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<?xml version='1.0' encoding='UTF-8'?>
<feed xmlns="http://www.w3.org/2005/Atom">
<id>1</id>
<title>Contract-level Relative Timelocks</title>
<updated>2025-01-06T02:23:37.755284+00:00</updated>
<author>
<name>ajtowns 2025-01-05 02:52:14.630000+00:00</name>
</author>
<generator uri="https://lkiesow.github.io/python-feedgen" version="0.9.0">python-feedgen</generator>
<entry>
<id>1</id>
<title>Contract-level Relative Timelocks</title>
<updated>2025-01-06T02:23:37.755312+00:00</updated>
<link href="https://delvingbitcoin.org/t/contract-level-relative-timelocks/1353/7" rel="alternate"/>
<summary>Chia's blockchain introduces an innovative approach to handling coin identifiers (coinid), particularly beneficial for their Non-Fungible Token (NFT) schemes, through the use of singletons. Singletons permit a method where the proof size required is not dependent on the update history, presenting a more efficient way of tracking and verifying coin ownership and transitions. This process involves identifying a specific coin, referred to as X, as holding a singleton S. This identification is achieved by matching the parent coin's identifier and puzzle to predefined criteria, essentially confirming that the singleton puzzle was previously satisfied either in the current generation or by a preceding one. The verification leans on the fact that the parent coin has been mined and thus any singleton puzzle it satisfies must have been met under the correct conditions, ensuring the integrity of the singleton's lineage. The detailed mechanism ensures a streamlined and secure method of tracing coin transactions and ownership within the Chia blockchain ecosystem. For more on how singletons function within the Chia network, visit [singleton](https://chialisp.com/singletons/).</summary>
<published>2025-01-05T02:52:14.630000+00:00</published>
</entry>
</feed>
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<?xml version='1.0' encoding='UTF-8'?>
<feed xmlns="http://www.w3.org/2005/Atom">
<id>1</id>
<title>Contract-level Relative Timelocks</title>
<updated>2025-01-06T02:23:28.041827+00:00</updated>
<author>
<name>salvatoshi 2025-01-05 09:34:34.931000+00:00</name>
</author>
<generator uri="https://lkiesow.github.io/python-feedgen" version="0.9.0">python-feedgen</generator>
<entry>
<id>1</id>
<title>Contract-level Relative Timelocks</title>
<updated>2025-01-06T02:23:28.041852+00:00</updated>
<link href="https://delvingbitcoin.org/t/contract-level-relative-timelocks/1353/8" rel="alternate"/>
<summary>The discussion highlights a novel concept within the realm of blockchain technology, focusing on a potential token standard named CatNip. This standard is noted for its innovative use of Constant-Amount Tokens (CAT) to achieve specific technical objectives. The main feature of interest here is the creation of a singleton through the removal of token-specific elements from the design, aiming for a constant-size proof of ancestry. The application of CAT is twofold in this context: firstly, it involves carrying state across transactions through additional outputs, which leverages introspection alongside the Schnorr trick; secondly, it entails introspecting a parent's Script via its transaction ID (txid).

The conversation suggests an improvement in the form of an opcode that could simplify the process of state transition without resorting to the Schnorr trick, though acknowledges the complexity involved in reading data inside a txid. Despite these challenges, the potential for alternative methods of creating singletons without relying on txids is noted, indicating room for innovation in this space.

The idea of a singleton is particularly exciting for its capability to generalize the concept of 'connector outputs.' These outputs are essentially proofs of ancestry at depth zero and have been utilized in projects like Ark. The integration of state-carrying Unspent Transaction Outputs (UTXOs) with architectures such as Ark and similar shared UTXO constructions promises significant advancements in blockchain technology. The relevance of this concept is underscored by a [link to a thread](https://x.com/rot13maxi/status/1833667750469804315) that elaborates on the proposed token standard using CAT called CatNip, providing a concrete example of the theoretical discussions surrounding singletons and their potential applications.</summary>
<published>2025-01-05T09:34:34.931000+00:00</published>
</entry>
</feed>
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<?xml version='1.0' encoding='UTF-8'?>
<feed xmlns="http://www.w3.org/2005/Atom">
<id>1</id>
<title>Fastest-possible PoW via Simple DAG</title>
<updated>2025-01-06T02:22:43.091110+00:00</updated>
<author>
<name>pmn 2025-01-05 11:36:35.625000+00:00</name>
</author>
<generator uri="https://lkiesow.github.io/python-feedgen" version="0.9.0">python-feedgen</generator>
<entry>
<id>1</id>
<title>Fastest-possible PoW via Simple DAG</title>
<updated>2025-01-06T02:22:43.091139+00:00</updated>
<link href="https://delvingbitcoin.org/t/fastest-possible-pow-via-simple-dag/1331/19" rel="alternate"/>
<summary>The paper by Miller and LaViola Jr. presents an innovative approach to achieving Byzantine fault tolerance within the realm of digital currencies, specifically focusing on Bitcoin's underlying technology. The authors introduce a model that leverages moderately-hard puzzles, a concept deeply entrenched in the cryptographic foundation of Bitcoin, to facilitate anonymous Byzantine consensus. This method is critical for ensuring the integrity and security of transactions without necessitating the identification of participants within the network.

The significance of this work lies in its potential to enhance the robustness of blockchain technologies against various forms of attacks and failures, while simultaneously preserving the anonymity of users. By employing puzzles that require a moderate level of effort to solve, the model balances the need for security with the practical considerations of computational resources. This balance is essential for maintaining the decentralized nature of Bitcoin and similar cryptocurrencies, allowing them to operate reliably and efficiently across a global network of users.

Furthermore, the research underscores the importance of adapting traditional Byzantine fault tolerance mechanisms to the unique challenges posed by decentralized financial systems. The proposed model not only contributes to the theoretical understanding of how such systems can achieve consensus in the absence of trust but also offers practical insights into their implementation. The inclusion of moderately-hard puzzles as a core component of the consensus mechanism exemplifies the innovative ways in which cryptographic techniques can be applied to secure digital transactions and foster trust among participants in a decentralized setting.

For those interested in delving deeper into the technical aspects and implications of this research, the full paper is accessible online at the Nakamoto Institute's website, available through the following [link](http://nakamotoinstitute.org/research/anonymous-byzantine-consensus).</summary>
<published>2025-01-05T11:36:35.625000+00:00</published>
</entry>
</feed>
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