20 Mar '17, 8pm

A soft fork change of Bitcoin's proof of work algorithm is entirely doable

It's possible to switch PoW algorithms with a soft fork rather than a hard fork. You make it so that there are two different PoWs, the old one and the new one, and each old-style block has to reference a new-style block and contain the exact same transactions. The new work rule is that the weighted geometric mean of the quality of the new-style block and the old-style block has to exceed the work threshold, with the weighting starting almost entirely on the old-style block and shifting gradually over to the new-style block until in the end the amount of work to generate the old-style block is completely trivial and doesn't matter any more. The most interesting part of the whole thing is keeping it so that the new work limit is consistently the limiting factor on mining difficulty rather than the old one interfering. Getting that to work right is an interesting problem whic...

Full article: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2...

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