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Radpool: Decentralised Mining Pool With Futures Contracts For Payouts

Radpool: Decentralised Mining Pool With Futures Contracts For Payouts

Original Postby jungly

Posted on: December 3, 2024 14:36 UTC

In the intricate realm of MSP (Mining Service Providers) to miner communication, each MSP operates as a comprehensive mining pool service.

This setup involves running stratum servers that play a crucial role in validating shares submitted by miners and other MSPs. The process is meticulous, with MSPs receiving work.submit messages through the stratum protocol from miners. These messages, which represent valid Proof of Work (PoW) shares, are then verified for their authenticity before being forwarded to other MSPs. This mechanism ensures the integrity of the mining process, allowing for a decentralized yet orderly operation.

A key component of this architecture is the implementation of rate-limiting share broadcast. This feature addresses potential concerns of network flooding by invalid shares. MSPs have the capability to build block templates for all associated miners, ensuring that only valid PoW shares are circulated among MSPs. Any MSP identified as distributing invalid shares risks being disconnected and potentially excluded from the collaborative processes such as Distributed Key Generation (DKG) or Threshold Signature Schemes (TSS) during subsequent rounds. This exclusion is facilitated by the consistent views maintained across the network via Byzantine Fault Tolerance (BFT) Broadcast, reinforcing the network's resilience against malicious activities.

Furthermore, the system incorporates a difficulty adjustment mechanism to regulate the frequency of share submission from miners to the pool. Each MSP's stratum server is tasked with ensuring that every miner contributes approximately one share every 15 seconds, preventing any significant deviation that could disrupt the mining equilibrium. This regulation is pivotal in valuing all shares equally, irrespective of their origin. Since each share corresponds to a block template that has been reliably broadcasted to the network, it becomes feasible to normalize shares based on the known block template and associated fees. This approach mirrors practices observed in centralized pools, where share normalization is employed to manage processing demands efficiently.

The framework also emphasizes monitoring and accountability among MSPs to prevent behaviors that could lead to Distributed Denial of Service (DDoS) attacks. By closely observing each other's actions, MSPs ensure a cooperative environment that mitigates risks of exploitation and fosters a stable mining ecosystem. This mutual oversight mechanism underscores the collaborative essence of decentralized mining operations, highlighting the advanced strategies employed to maintain operational integrity and security within the network.