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@ zeno
2025-05-22 23:42:09I've been exploring ways to retain the strong security guarantees of Proof-of-Work (PoW) while significantly reducing its environmental footprint. Traditional PoW systems are undeniably robust, but their energy demands are a major concern. Delayed Proof-of-Work (DPoW) is my first proposal toward solving this - a concept designed to preserve the integrity and fairness of PoW while operating with a fraction of the hash power.
How it Works
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A new block is added to the chain.
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All miners start computing a VDF (Verifiable Delay Function) with the latest block's hash as the input.
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The VDF is designed to take 4 minutes to complete, enforcing a mandatory idle period.
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The \~1 minute mining period begins when miners complete the VDF.
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- Miners compete to find a valid PoW for a new block, which includes the VDF output in the header.
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The first miner to find a valid hash broadcasts the new block to the network.
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The block is verified by nodes by checking the VDF's output is correct for the previous block hash, and that the PoW is valid.
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This cycle of a 4 minute idle period and a brief mining period continues.
Key Advantages
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The idle-mine cycle allows the network to operate with \~1/5 of the hash power of a standard PoW blockchain while still taking advantage of the security properties of PoW.
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During the 4 minute idle period, the blockchain is guaranteed to be static. The predictable delay means blocks are propagated and confirmed in a more synchronised fashion, which could reduce synchronisation issues and orphaned blocks.
Potential Issues
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VDFs can be computed slightly faster on hardware with higher clock speeds or specialised circuits, resulting in some miners having a longer mining period.
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The short mining-window means that miners on faster connections will have a significant advantage over slower connections, as they will be able to propagate a mined block faster.
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The VDF also uses energy, although negligible compared to the amount that algorithms use.
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Miners might redirect their hash power to other cryptocurrencies during the delay period, which would undermine the goal of reducing energy consumption.
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A malicious miner who obtains or predicts the next block could start pre-computing the VDF early, gaining an unfair advantage.
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