Qitmeer Mining Algorithm; BlockDAG and Mining

BlockDAG’s collaboration model provides much more fairness than the competition model of BlockChain on the protocol aspect. Every node gets rewards according to its contribution, regardless of how much hash power they possess. Qitmeer considers the fairness benefit even more important than the scalability increase because it represents the spirit of BlockChain. The intention of Nakamoto Consensus is fair - every node votes with electricity; however, only a small bunch of the mining pools have the odds to participate in consensus.

Standalone miners suffer hige opportunity cost since they have to wait uncertain time, quite long in most cases, to mine a block to cover their cost; thus finally they have to turn to the mining pools. BlockDAG incorporates every miner’s block, so the miners have a strong expectation of their return and then don’t have too much willing to join a mining pool. Apart from the protocol, the mining algorithm is another factor of fairness, so the protocol fairness is of no use without mining fairness. Mining fairness refers to a certain amount of mining cost, i.e. electricity in POW, should derive the relatively equivalent amount of hash power. Practically, the ASIC mining rigs have much more mining effciency than their prices.

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Thank you, keep reading

Interesting read