Decentralized fair mining pools
An improved blockchain is described herein in which a user burn transaction can be used to increase the probability that another node is selected as a leader. For example, a node can submit a user burn transaction that references a block commit submitted by another node, and may indicate an amount of cryptocurrency being burned in the user burn transaction. The amount of cryptocurrency being burned in the user burn transaction can be summed with the amount of cryptocurrency burned in the block commit referenced by the user burn transaction to determine the probability that the node that submitted the block commit is selected as a leader. While the node that submitted the user burn transaction cannot be selected as a leader, the node that submitted the user burn transaction can share in a portion of the block reward awarded to the node selected as the leader.
1. A computing device of a decentralized network comprising:
a network interface configured to couple the computing device to the decentralized network;
a hardware processor; and
a non-transitory computer readable storage medium storing program instructions for execution by the hardware processor in order to cause the computing device to:
process a block commit transaction that comprises an indication that a first amount of a first cryptocurrency is burned by a second computing device in the decentralized network in association with a first block in a burn chain;
transmit a user burn transaction in association with the first block in the burn chain, wherein the user burn transaction comprises an indication that a second amount of the first cryptocurrency is burned and a reference to the block commit transaction submitted by the second computing device;
determine that the second computing device is selected as a leader based on a sortition that occurred in association with the first block in the burn chain; and
process a reward received as a result of the user burn transaction and the sortition, wherein the reward is associated with a second cryptocurrency different than the first cryptocurrency.
2. The computing device of claim 1 , wherein the second computing device receives a second reward and transaction fees associated with a first block in a stack chain as a result of the block commit transaction and the sortition.
3. The computing device of claim 1 , wherein the sortition is associated with a total award, and wherein a percentage of the total reward that is the reward is based on a percentage of a sum of the first amount and the second amount that is the second amount.
4. The computing device of claim 1 , wherein the first amount is less than a burn quota.
5. The computing device of claim 1 , wherein a sum of the first amount and the second amount is greater than a burn quota.
6. The computing device of claim 1 , wherein the program instructions, when executed, further cause the computing device to transmit a second user burn transaction in association with the first block in the burn chain, wherein the second user burn transaction comprises an indication that a third amount of the first cryptocurrency is burned and a reference to a second block commit transaction submitted by a third computing device in the decentralized network.
7. The computing device of claim 1 , wherein the program instructions, when executed, further cause the computing device to transmit the user burn transaction prior to transmission of a public key registration transaction.
8. A computer-implemented method comprising:
under control of a computing device in a decentralized network,
processing a block commit transaction that comprises an indication that a first amount of a first cryptocurrency is burned by a second computing device in the decentralized network in association with a first block in a burn chain;
transmitting a user burn transaction in association with the first block in the burn chain, wherein the user burn transaction comprises an indication that a second amount of the first cryptocurrency is burned and a reference to the block commit transaction submitted by the second computing device;
determining that the second computing device is selected as a leader based on a sortition that occurred in association with the first block in the burn chain; and
processing a reward received as a result of the user burn transaction and the sortition, wherein the reward is associated with a second cryptocurrency different than the first cryptocurrency.
9. The computer-implemented method of claim 8 , wherein the second computing device receives a second reward and transaction fees associated with a first block in a stack chain as a result of the block commit transaction and the sortition.
10. The computer-implemented method of claim 8 , wherein the sortition is associated with a total award, and wherein a percentage of the total reward that is the reward is based on a percentage of a sum of the first amount and the second amount that is the second amount.
11. The computer-implemented method of claim 8 , wherein the first amount is less than a burn quota.
12. The computer-implemented method of claim 8 , wherein a sum of the first amount and the second amount is greater than a burn quota.
13. The computer-implemented method of claim 8 , further comprising transmitting a second user burn transaction in association with the first block in the burn chain, wherein the second user burn transaction comprises an indication that a third amount of the first cryptocurrency is burned and a reference to a second block commit transaction submitted by a third computing device in the decentralized network.
14. The computer-implemented method of claim 8 , wherein transmitting a user burn transaction further comprises transmitting the user burn transaction prior to transmission of a public key registration transaction.
15. Non-transitory, computer-readable storage media comprising computer-executable instructions for conducting a single-leader election in a blockchain using user burn transactions, wherein the computer-executable instructions, when executed by a computer system, cause the computer system to:
process a block commit transaction that comprises an indication that a first amount of a first cryptocurrency is burned by a second computer system in association with a first block in a burn chain;
transmit a user burn transaction in association with the first block in the burn chain, wherein the user burn transaction comprises an indication that a second amount of the first cryptocurrency is burned and a reference to the block commit transaction submitted by the second computer system;
determine that the second computer system is selected as a leader based on a sortition that occurred in association with the first block in the burn chain; and
process a reward received as a result of the user burn transaction and the sortition, wherein the reward is associated with a second cryptocurrency different than the first cryptocurrency.
16. The non-transitory, computer-readable storage media of claim 15 , wherein the second computer system receives a second reward and transaction fees associated with a first block in a stack chain as a result of the block commit transaction and the sortition.
17. The non-transitory, computer-readable storage media of claim 15 , wherein the sortition is associated with a total award, and wherein a percentage of the total reward that is the reward is based on a percentage of a sum of the first amount and the second amount that is the second amount.
18. The non-transitory, computer-readable storage media of claim 15 , wherein the first amount is less than a burn quota.
19. The non-transitory, computer-readable storage media of claim 15 , wherein a sum of the first amount and the second amount is greater than a burn quota.
20. The non-transitory, computer-readable storage media of claim 15 , wherein the computer-executable instructions further cause the computer system to transmit a second user burn transaction in association with the first block in the burn chain, wherein the second user burn transaction comprises an indication that a third amount of the first cryptocurrency is burned and a reference to a second block commit transaction submitted by a third computer system.