Dominance of large pools threatens the security of the network. If the network is not sufficiently decentralized, there is an increased danger of 51% attacks. Stronger decentralized network = much more wow!
Modify RandomWOW PoW to require miners to sign block header with the secret spend key for the coinbase transaction. Idea was originally proposed last year by tevador/SChernykh.
Miners would have to:
- Select a nonce value.
- Sign the block header using the one-time transaction spend key (AKA the "stealth address") used for the coinbase transaction.
- Append the signature to the block header.
- Calculate a RandomX hash of the long block header.
- Check if the hash is below the target. If not, go back to step 1
- Pools could ask for a security deposit from miners to discourage stealing of rewards when mining to a "hot" pool wallet
- If deposits are required, smaller pool operators might not be able/willing to handle the complexity of managing deposits.
- Set-up testnet with RandomWOW v2 mods 5,000 WOW
- Successful hard fork to new PoW 5,000 WOW
Kill off mega pools
Bounty open to devs with record of advanced C++ coding skills.