delvingbitcoin

Fastest-possible PoW via Simple DAG

Fastest-possible PoW via Simple DAG

Original Postby mcelrath

Posted on: January 3, 2025 17:05 UTC

The implementation of deterministic block templates is underway, addressing concerns raised regarding transaction and block template data propagation.

These templates allow for the addition of bitcoin transactions to a "committed mempool," from which selections can be made using a deterministic algorithm based on criteria such as highest fees or lexical ordering on transaction IDs. This approach negates the need for sharing transaction or block template data across shares, as the computations can be independently performed by all nodes.

Not all shares result in bitcoin blocks; hence, updating the UTXO (Unspent Transaction Output) set is unnecessary, though it's acknowledged that each bead possesses its own mempool. Despite this, many transactions are expected to be common across multiple mempools, necessitating an efficient method for performing diff/merge operations between the mempools of different beads. The exploration into cluster mempool management is highlighted, alongside an interest in UTreeXO as a potential solution.

The post also mentions the possibility of developing custom UTXO management code as an alternative to leveraging existing solutions like bitcoind. This is part of a broader strategy to adopt practices from libbitcoin, indicating a preference for its methodologies in the project’s development. Contributions from the community are encouraged, emphasizing a collaborative effort in refining and implementing these systems. For more details on the planned approach, reference is made to a discussion available at described here.

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