Seems like if a pool went with this, in addition to greater privacy, individual miners would get to choose FPPS-like payouts (smoother) if they want, or some proportion between 0-100%, by selling ehash tokens on the market that forms.
Just wanna make sure I’ve got it right
You got it!
If miners want to cash out immediately they will need a taker to buy their ehash tokens. Maybe the pool will do this. This would mimic the existing mining pool industry but with better privacy. I think a more optimal solution would be for a class of professional hash traders to develop a high level of expertise at pricing this risk.
Everyone wins when markets are efficient. 🤙
Look forward to following progress. FPPS stuff, from what little I’ve heard about it, seems inefficiently priced and rather prevalent.
I don't think existing pools price hashrate poorly but the existing model creates a moral hazard that is an existential risk for all of bitcoin. Vertically integrated pools centralize block template production into the hands of a few pool operators. When a handful of people dominate the production of block templates, all of bitcoin is at risk.
Hashpool creates an economic incentive to put the pricing of hashrate and the production of block templates into the hands of other parties. This is the most important thing to fix IMO. In this model the large pools become dumb aggregators that collect hashrate, produce blocks, and feed block rewards to a bunch of small client pools. The client pools produce block templates and the free market prices hash. Every player has one job to do. Moral hazard fixed.
You prolly have a lot going on, so thanks for all the explanations. 🙏
NP! Thanks for all the questions!
But in order to get there we need a PPLNS pool with enough hashrate to regularly produce blocks. Right now nostr:nprofile1qqsq9k04vahllseell55m74n3047y88pzlr0z5yany32st29fapqmgsppemhxue69uhkummn9ekx7mp0qy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qgawaehxw309ahx7um5wghxy6t5vdhkjmn9wgh8xmmrd9skctc87ckyu is the only game in town. DEMAND pool is ramping up. Can't wait for those guys to launch!
It will be a tougher sell to get an existing large pool on board but I am hopeful that we can talk some sense into them. If we can get Foundry to offer PPLNS services it's game over for Antpool.
I expect a KYC PPLNS system will be essential to get a large public mining pool on board. Great news! The cashu community is already building this capability. I think we're winning. 😎🤙
