braidpool

Official account for the braidpool decentralized Bitcoin mining software. Decentralize share accounting, payout, and tx selection.

[braidpool @braidpool]

Braidpool is:
1. A DAG-based chain with PoW-based conflict resolution
2. A mining pool with 1000x faster blocks
3. An "instant payout" mechanism for miners
4. A decentralized hashrate derivatives market
5. Making bitcoin more decentralized!

[Bitshala @bitshala_org]

🟠New article by @AnshSharma54105 on @braidpool is out now! 🚀

We dive into mining decentralization, the mining monopoly problem, and how Braidpool addresses it. We also explores the core mechanics behind the Braid Consensus engine and Braidpool.

Check it out below.⤵️
#Bitcoin #Mining #Braidpool

[Bitshala @bitshala_org]

From Bitshala Fellow to Starter Grant recipient.

@AnshSharma54105 began contributing to @braidpool through the Bitshala Fellowship, and his work quickly stood out.

Later he got upgraded to a Starter Grant to continue building critical infrastructure for decentralised Bitcoin mining.

His current focus includes:
• Implementing decentralized mining pool architecture
• Integrating Stratum V2
• Optimizing consensus and P2P networking
• Building robust testing and validation workflows

[braidpool @braidpool]

This summer we've accepted 2 @summerofbitcoin students, @priyaashuu and @KKinra80406! Priya was a SoB student last summer and has been a steady contributor wrangling our front-end and we look forward to working with @KKinra80406! Look for our launch this year!

[braidpool @braidpool]

We have a side project on AI for this @summerofbitcoin with @Aru__09, @ParthDudhe07, @AnshSharma54105, and @rasesh_shetty. AI-based, automatic transcription of conference talks! Tons of ideas!

Check out the beta: https://t.co/Uk8Aj1LPJ3
Join the Discord: https://t.co/YgjGMTmjzP

[braidpool @braidpool]

We have a side project on AI for this @summerofbitcoin with @Aru__09, @ParthDudhe07, @AnshSharma54105, and @rasesh_shetty. AI-based, automatic transcription of conference talks! Tons of ideas!

Check out the beta: https://t.co/Uk8Aj1LPJ3
Join the Discord: https://t.co/YgjGMTmjzP

[braidpool @braidpool]

This summer we've accepted 2 @summerofbitcoin students, @priyaashuu and @KKinra80406! Priya was a SoB student last summer and has been a steady contributor wrangling our front-end and we look forward to working with @KKinra80406! Look for our launch this year!

[braidpool @braidpool]

@boyacaxa @bitcoincoreorg We'll do that too. Part of this analysis is to figure out WHICH covenant works for Braidpool, and it's not CTV, unfortunately. We'll champion CCV soon.

[braidpool @braidpool]

We're super excited about Binohash and have a proposal to use it to enable Braidpool payouts. What do you think? (CCV/MATT is the correct covenant opcode for Braidpool, not CTV)
https://t.co/ItWaDZT0gm

[Robin Linus @robin_linus]

Binohash: Transaction Introspection Without Softforks

A first transaction has been mined demonstrating a limited form of covenants using only existing Bitcoin script functions. This development potentially eliminates the need for a Bitcoin light client in BitVM bridges, simplifying the construction and improving security.

We hope this development furthers research on the possibility of creating introspection and covenants-style functionality on Bitcoin without the need for softforks, and advances discussions on the usability of covenants in Bitcoin and the use-cases they enable.

Many thanks to everyone at @idealgroup, as well as @PortlandHODL and the Slipstream team at @MARA for patching their nodes to mine these wacky transactions.

Full paper in the comments 👇

[braidpool @braidpool]

Braidpool needs more stars so I can get the Claude 20x Max plan!

https://t.co/wffEvQEnzc

[braidpool @braidpool]

BitVM may be a very, very good solution to ensuring payouts are correct in Braidpool. Join our discord if you want to work on this, HELP WANTED!

[Robin Linus @robin_linus]

BitVM2 made Bitcoin bridges possible. BitVM3 cut on-chain costs by 1,000x with garbled circuits. Now @liameagen's breakthrough scheme, Argo, cuts off-chain costs by another 1,000x—making off-chain computation on Bitcoin truly efficient and practical.
👷🏻‍♂️👷🏻‍♂️👷🏻‍♂️

[braidpool @braidpool]

Here it is. We dug it up for you. Some of the earliest work on Braids.

https://t.co/WrBUI5dTEG

[Bob McElrath @BobMcElrath]

The future of blockchain is Braids.

[Femi Longe @femilonge]

⛏️ Traditional mining pools rely on a central authority, making co-option possible

@braidpool is a P2P pool where miners collaboratively build blocks without a central operator

HRF supports dev @zaidmstrr to contribute to a more decentralized & transparent mining model

[braidpool @braidpool]

Congratulations to @zaidmstrr for receiving a grant to work on Braidpool! The Audit Mode he's been working on supports the creation of a hashrate derivatives market, a key piece of infrastructure in bitcoin that most mature commodities markets have.
https://t.co/oFy06yJHS3

[braidpool @braidpool]

@RealFinOfficial @BobMcElrath @aeonBTC @DMND_Sv2 @ocean_mining TL;DR Braidpool needs a healthy and active derivatives market for hashrate, because trading shares is how we will emulate FPPS. Holding a share is a forward contract and the miner will be able to sell it. This derivatives market is bigger than Braidpool.

[braidpool @braidpool]

@RealFinOfficial @BobMcElrath @aeonBTC @DMND_Sv2 @ocean_mining Here's some more details on audit mode and why we wanted to create it

https://t.co/6OxANlWhZW

[braidpool @braidpool]

@keegreil Sorry that should be:
Pool variance = 1/sqrt(num_blocks)
Share variance=1/sqrt(num_shares)

[braidpool @braidpool]

@keegreil Yes that would be my guess - higher variance than PPLNS. It comes down to (1) how many blocks your pool wins and (2) sampling rate of shares. By having a low sampling rate of shares you can introduce an additional variance. Share variance is the sqrt(num_samples).

[braidpool @braidpool]

@keegreil FWIW our payouts will be based on difficulty, not number of shares. So it's not a problem for different miners to have different targets. We aim for all miners to get one share per block, which is about a 2% share variance over a 2 week payout period.

[braidpool @braidpool]

@keegreil The AI notes in the beginning that using hash value is biased and a fast tailed distribution (which is correct) and uses difficulty=1/target in that equation. It's correct on the 1st & 2nd pages. Then it forgets that it was biased on the 3rd page.