Race of Work

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V.2

The mining process of new blocks requires solving a sub-hash collision problem. Where the miner needs to hash a block of transactions to find a hash smaller than some value, this value is the difficulty of the system. Each coin adjusts its difficulty based on the hashing power of its miners to maintain a constant block time. Bitcoin has a block time of 10 minutes while Litecoin is 2.5 minutes and Etherume is just 15 seconds.

This approach is called proof of work, and sometimes it can be very unpredicted. Like in Bitcoin sometimes there is network freeze for over an hour, the longest was in block 152218 followed block 152217 after a delay of 1 hour 39 minutes and 7 seconds.  It’s crazy!

Today I want to show you a better way, its called Race of Work.

In Race of work, there is no difficulty. Instead, all the nodes are trying to find the smallest hash possible within the block time. The block time is constant, it starts at some point in time and repeats continuously based on the system constant of block time.

Forks can happen when a miner finds the smallest hash near the end of the block time. Whenever he broadcast it to the system, it could be that some nodes will receive it with delay and not accept it.

The forks in ROW has a different resolution than in POW. Since there will never be a longer chain as all the blocks mined in a predefined time, all the forks will always be with the same length.  Therefor forks resolved by following the chain with the most wins. When comparing between chain A and B, each of their mined blocks is compared as they been mined at the same time. Therefore you can count how many times A won B or B won A. The chain with the most wins is the one to follow. In case there is a tie, then the last win will be the desition what chain to choose.

With ROW it’s possible to predict with seconds of accuracy when the last block will be mind. It provides more stability to the system, it’s an easy and a very cool concept.

Q/A

Does the pool reword works differently in ROW then in POW? No, the pools have an excellent way to equally split the pool reword among the miners, the shares system should not be changed in ROW.

Is there a bigger chance to have a fork in ROW rather than in POW? No, forks happen due to a native leg in the system. It does not matter if it’s ROW or POW.

Is it possible for more than one fork to happen sequentially? Yes, however just like in POW the chances for that are very low.