Is collateralised mining just proof of stake dash forum gas evolution reaction

The term "Proof of Stake" has to be defined first before we can equate our concept to it. If you’re talking about the "Proof of Stake" mining scheme which is used to mint new coins, then no: Collateralized mining has nothing to do with it. Simply because you’d still be mining by hashing, not staking.

Requiring proof of ownership has a myriad of upsides when you think about it. Not only "skin in the game" and less volatility/market stabilization. The network is also given a tool to control its own total hashpower, which is a ground breaking concept. Energy friendly blockchain anyone? While being (virtually) fully secure at the same time? Others dream of that, we can actually do it.

Ofc you’d still be required to have real world hardware able to mine at whatever speed your Dash stash allows you to, so the economic constraint becomes two-fold, but not overbearing. It’s quite the improvement, because currently all an attacker needs to launch a 51% attack is having more hashpower than the entire network combined. But with collateralized mining, he’ll not only need that but additionally more Dash than the entire mining network combined, which is an economic impossibility. Sounds awfully familiar to some other wildly successful incentive scheme, right? Expanding past successes onto other network layers is only a logical step imo.

Click to expand…I’m confused. Where did that come from? I think I missed when that was the issue. Anyway, to answer: Of course there is a theoretical maximum hashrate for the entire network. It’s (total_amount_of_collateralized_Dash * Hashrate_granted_per_Dash).

Note that the research we’re funding at ASU might find a sweetspot ratio one day for consumed electricity vs. security provided by PoW-mining, so we could cap the hashrate (and thus energy consumption) by adjusting variable 2 down to a sufficient value.

To summarize the concept (and I’m most likely repeating myself here) one simple example: To mine at 100 MH/s you must prove ownership of let’s just say 1 Dash. Now you have a mining rig that allows you to mine at 500 MH/s. But since you only own 1 Dash, the network disregards every hash above 100 MH you provide (*see edit). To be able to mine with your rig at full capacity, you must acquire another 4 Dash -> race for coins.

Opposite example: You have 1000 Dash, which would allow you in theory to mine at 100 GH/s. But you possess a mining rig that is capable of only 20 GH/s. So your only option to mine at full or at least near full capacity is to buy more and/or better hardware -> race for hardware.

(*edit: To clear up a potential misunderstanding: The reason we’d save power here is the idea that miners would be incentivized to lower their hashrate voluntarily if they don’t own the required Dash amount to mine at 100% hardware usage, otherwise they’d be wasting electricity for zero gain)

Click to expand…How exactly do you "limit" someones hash rate to your example of 1 Dash = 100MH? I would love to see some technicals behind this. What happens when someone has 1 Dash, but a 1GH rig? How does the network distinguish between "too much" hashrate, and someone just getting incredibly lucky?

The only functioning hash rate limiter I can see is if we select a node (based on the pseudo-random PoS philisophy of more coins = more probability of being selected), and then allow them to mine as many blocks in that time period as their max_hashrate allows. But then we can just throw out hashing completely right? What purpose does it serve here?

Secondly, if there was some sort of functioning hash-rate limiter due to the amount of Dash you own, why don’t we just drop it to 1 Dash = 1 Hash? Then the entire network is supported by only 18.9MHash, and is super "eco-friendly"… But then we are basically just reverting to PoS… but since you have to use some sort of selection process for this type of collateralized mining to work at all, then we should just revert to pure PoS. right?

How exactly do you "limit" someones hash rate to your example of 1 Dash = 100MH? I would love to see some technicals behind this. What happens when someone has 1 Dash, but a 1GH rig? How does the network distinguish between "too much" hashrate, and someone just getting incredibly lucky?

The only functioning hash rate limiter I can see is if we select a node (based on the pseudo-random PoS philisophy of more coins = more probability of being selected), and then allow them to mine as many blocks in that time period as their max_hashrate allows. But then we can just throw out hashing completely right? What purpose does it serve here?

Secondly, if there was some sort of functioning hash-rate limiter due to the amount of Dash you own, why don’t we just drop it to 1 Dash = 1 Hash? Then the entire network is supported by only 18.9MHash, and is super "eco-friendly"… But then we are basically just reverting to PoS… but since you have to use some sort of selection process for this type of collateralized mining to work at all, then we should just revert to pure PoS. right?