About mining algorithm

Question

To conserve energy, the round-robin schedule mining using mining-diversity is very good. Would it be possible to the round-robin schedule mining algorithm using mining-diversity on public-style blockchain service? I would like to use this algorithm on public blockchain to prevent wasting energy even if I modify the source code. What could be the problem with this method on public blockchain?

Thank you, MultiChain team.

Answer 1

You can't safely use mining diversity as a consensus algorithm on a blockchain which allows anyone to mine. It only works if you have a defined set of permitted miners.

First mining diversity is defined in terms of a proportion of permitted miners. But every if we found a way around that (say looking at all addresses which had every transacted on the blockchain) it still wouldn't be safe. In a non-permissioned blockchain every participant is free to create as many addresses as they like, and can therefore seize control of the consensus process using all those different addresses. This is exactly why bitcoin works in the way that it does.

Comments

So that is it means that if the permitted miners hacked by hacker, it will have broken the whole system? so that how to improve the multichain's safety strength.(except using traditional information security methods such as FW,IDS,anti-virus...etc.)

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Yes, the immutability of the blockchain can be undermined if enough of the permitted miners are hacked (the exact number depends on mining diversity). You can still configure MultiChain to use proof-of-work if you like, along with permissioned mining. We've just never heard of anyone wanted to do this.