📅 Original date posted:2021-05-18
📝 Original message:Good morning Michael,
> Nothing in a dynamic system like PoW mining can be 100% anticipated, for example there might be advanced in manufacturing of chips which are patented and so on.
>
> It sounds like your take is that this means no improvements can ever be made by any mechanism, however conservative.
Not at all.
Small-enough improvements over long-enough periods of time are expected and anticipated --- that is why there exists a difficulty adjustment mechanism.
What is risky if a large-enough improvement over a short-enough time that overwhelms the difficulty adjustment mechanism.
ASICBOOST was a massive enough improvement that it could be argued to potentially overwhelm this mechanism if it was not openly allowed for all miners.
>
> We do go into a fair amount of detail about Minimum Effective Hardness in our paper https://assets.pubpub.org/xi9h9rps/01581688887859.pdf , which is actually a special case of hardness that we invented for the context of adding an operation to a PoW, and how it applies to random matrix mults.
This certainly helps as well.
Regards,
ZmnSCPxj
ZmnSCPxj [ARCHIVE] /
npub1g5…3ms3l
2023-06-07 22:53:44
in reply to nevent1q…xsr4
Author Public Key
npub1g5zswf6y48f7fy90jf3tlcuwdmjn8znhzaa4vkmtxaeskca8hpss23ms3lPublished at
2023-06-07 22:53:44Event JSON
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"content": "📅 Original date posted:2021-05-18\n📝 Original message:Good morning Michael,\n\n\u003e Nothing in a dynamic system like PoW mining can be 100% anticipated, for example there might be advanced in manufacturing of chips which are patented and so on. \n\u003e\n\u003e It sounds like your take is that this means no improvements can ever be made by any mechanism, however conservative.\n\nNot at all.\n\nSmall-enough improvements over long-enough periods of time are expected and anticipated --- that is why there exists a difficulty adjustment mechanism.\nWhat is risky if a large-enough improvement over a short-enough time that overwhelms the difficulty adjustment mechanism.\nASICBOOST was a massive enough improvement that it could be argued to potentially overwhelm this mechanism if it was not openly allowed for all miners.\n\n\u003e\n\u003e We do go into a fair amount of detail about Minimum Effective Hardness in our paper https://assets.pubpub.org/xi9h9rps/01581688887859.pdf , which is actually a special case of hardness that we invented for the context of adding an operation to a PoW, and how it applies to random matrix mults. \n\nThis certainly helps as well.\n\nRegards,\nZmnSCPxj",
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