Ask HN: Can FHE solve the PoW energy problem?

6 pointsby dehugewe12094 anni fa7 comments

Hi there,

I had an interesting idea on how to perform useful compute with proof of work. We could wrap a problem using Homomorphic Encryption techniques. Each node gets a different problem to solve. If the solution matches a certain pattern, they can write the next block (similar to already existing methods).

The key difference is that the research institution interested in submitting a job would pay a fee, and that fee is split among all miners that worked in solving the puzzle - creating a second, STEADY source of revenue to GPU miners!

This would put a massive number of GPUs out there into service of science, while increasing the revenue of miners. Efficiency would improve overtime as FHE algorithms evolve. ASIC miners would be very welcome.

Please criticize.

7 comments

rdbell4 anni fa

I’m not sure what the FHE part of your proposal is trying to solve but to address the main point, the “Work” in Proof of Work needs to be useless apart from securing the network.

https://bitcoin.stackexchange.com/questions/97030/beginners-...

klhugo4 anni fa

That is a very, very good point. I have no counter arguments. Thanks for sharing!

errantmind4 anni fa

Your idea rests on technicals you've yet to dig into. Ideas are a dime a dozen. Best of luck.

klhugo4 anni fa

Truth is I don't have time to dig in this right now. I thought if the idea was good maybe I could motivate somebody else.

I just hope we can get rid of PoW the way it is soon.

errantmind4 anni fa

I think you will be waiting a while. PoW isn't going anywhere, even if it were outlawed.

high_byte4 anni fa

I don't get the homomorphic encryption part... so it's still proof of work, just got science. many such projects exist, mainly the "X@Home" projects and more.

klhugo4 anni fa

For proof of work to be fair, you need a robust & secure job that produces results with a uniform distribution of zeros and ones. FHE gives you that, while performing useful computation.