Under the Staking economy of the Staking economy (Series 5) media hotspots, the competition in the mining pool is turbulent
With the arrival of the Staking economy, the mining pool is also accelerating the competition. The PoW mine pool, such as the Starfire Mine Pool, cut into the Cosmos mining and sounded the first battle. The emerging PoS pool is familiar with the consensus algorithm and the community foundation. expand influence.
The origin of the mining pool is to gather people's power to mine. The earliest PoW mine pool Slush Pool was established in Prague, Czech Republic in 2010. With the increase of the computing competition, the probability of retail investors digging into the block decreased, and the retailers joined the mining pool to improve. Individual computing power, there are more and more large mining pools (BTC.com, fish ponds, ant mine pools, etc.).
Studying the PoW mine pool is to look at the future model of the PoS era from the history of PoW. The rules of each chain in the PoS field are different. In order to increase efficiency, there are usually restrictions on the block nodes, unlike the PoW era. As long as the node is running, it can be a miner on the chain. In the PoS, the requirements are strict (more centralized) to loose (more decentralized). The examples are EOS 21 out nodes, Cosmos initial 100 blocks, and Tezos currently 450. Outgoing nodes (Tezos have no limit on the number of nodes, but the threshold of nodes is 10000 xtz). The gain of these nodes is positively related to the number of Staking they can obtain. The higher the number of Staking, the higher the probability of excavating the block. reward.
There is a threshold that actually represents the PoS has the genes of the mining pool. The number of Stakings received by the nodes has increased. This is actually the mining pool often mentioned in PoW.
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Why do nodes in any blockchain project have a shadow of centralized services?
1. The general holder has no time and energy to run the node with professional knowledge, and thus is handed over to a third party with a centralized node entrusting service.
2. The system is designed in such a way (in order to be more efficient and stable), even if the retailer has the ability to run the node, not having enough coins or receiving enough Staking is actually a node that cannot earn revenue. Even if the retailer satisfies the system threshold, the number of small nodes in a short time is affected by the random lucky value. It is likely that there is no block profit for a long time. Joining the node service (mine pool) is a way to obtain stable income.
The world must be divided into long-term and long-term, and the mining pool is an inevitable stage. Of course, some blockchain projects have already appeared corresponding measures. Waiting for the infrastructure to mature , we will discuss it in the last article. In this article, we only discuss PoS. The node or the direction of the PoS pool.
Several mainstream pool models derived from the needs of miners in PoW
1. PPLNS mode: full name Pay Per Last N Shares, each miner has his own calculation power, pooling the calculation power by joining the mining pool, and the final reward is divided according to his own calculation power. In this mode, there are random lucky value components. If the mine pool digs multiple blocks on the same day, there will be more rewards. If there are no blocks, there will be no rewards.
2. PPS mode: Each miner will make a daily bonus share according to the proportion of his calculation power, so basically the miner's income is stable, and the risk of fluctuation brought by the lucky value is assumed by the mining pool. .
3. PPS+ mode: Mixed by the above two modes, mainly some transfer fees are also given to miners.
4. Solo mode: Calculate your own power.
In the above model, the fee involved in participating in the PPS mode is higher than that of PPLNS because the mine has assumed a higher risk of fluctuation.
In contrast, there is not so much in the PoS economy because of the different modes of mining randomness , because the blockchain of PoS is faster, and there is an upper limit on the number of nodes under the threshold. According to the current Wetez observation , the delegated services provided by the node have these categories
1. Guaranteed revenue model: When a node loses a block because it is not online for any reason, and then loses the reward, the node still guarantees that the principal has the reward for the block.
2. Guaranteed revenue model enhanced version: Slash penalty rules are different for each chain. For example, the Slash penalty on Cosmos is quite serious. The system will confiscate the nodes and users because of the Stake pledge token, which may be born in the future. The guaranteed node launch guarantees the revenue enhanced version mode to attract users.
3. Timely arrival mode: Each block of PoS consensus block will have a token lock period in order to ensure that the node does not do evil. Tezos is about 15 days, Cosmos is about 30 days, and future ETH is about 4 months. A node with a certain liquidity (such as an exchange) promises that the proceeds will be issued on the same day to meet the user's liquidity needs.
The next battlefield will become more and more fierce. The nodes of PoS will expand the business with different blockchain projects and develop a characteristic PoS mine pool. The PoW mine pool sees the profit of the PoS node and also grinds. The knife hooves in, the fire coin pool cuts in, and Babbitt's Matpool cuts in, and the future will only be more intense.
Is there an advantage for the emerging PoS node team, or is it a rich PoW mine?
Let's compare the target users of PoS and PoW.
PoW's target users are a group of technology-savvy people who know how to buy a mining machine and know how to calculate which mine pool is more beneficial to him.
PoS's target users have expanded even more, not only for technology-savvy groups, but also for whites and speculators who don't understand technology at all, as long as the tokens on the chain are potential users.
PoS is still in a chaotic era. There are no indicator mines out there, and there are no sufficient community tools to compare the revenues and principal-agent rules of different nodes on different chains. Except for the exchange nodes, the users of each node are scattered. Like an island, in the case of similar fees, users usually choose the node with the most prestige and trust in their minds. Generally speaking, they are closest to the user and can often refer to the user's latest information and answer questions. A node is a delegate node of a user.
The nodes in the PoS ecosystem have several characteristics.
1. High technical ability, can output chain related technical articles
2. Reputation is extremely high, usually early participants assist in project development
3. Provide other business services such as wallets, browsers, community developer tools, etc.
4. Types of operational activities, holding various roadshows and writing various popular science articles
5. Region type, nodes in each language region
Looking further at a more competitive future, when services are close to homogeneity, yields and fees are close to homogeneity, information becomes more transparent , and the last element of competition will be
1. Reputation and membership system: Although the entrusted service is decentralized, it is essentially a long-term requirement. If the node wants to successfully improve the stickiness of the entrusted user, first increase the team reputation, and then bind the trusted user by establishing a membership system. Long-term relationship.
2. Currency: You can see the PoW ecosystem. For example, Viabtc, the coin printing pool has issued its own token. This token is used as the second reward in addition to the mining revenue. The general purpose is to deduct the handling fee. Buying nearby products and enjoying other dividends in the future, but most of these are marketing methods. There are real application scenarios to support the value of the currency. In the future, there will be similar pass-through games in the PoS field.
3. Fee rate competition: This is the most direct factor affecting the revenue of the entrusted user, but it also damages the interests of the node. The current gameplay is to adjust the commission rate later, or to adjust the number in the middle. Reduce the commission rate.
Wetez believes that this game will be dynamic, but the early participants and the nodes that can build reputation will have great advantages , and the result of node operation on one chain will become the basis for the reference of the next chain.
At the end of the game, who will be the super-large PoS pool?
Most likely, it is the PoS pool that is backed by the exchange. According to the 28th rule, a small number of people hold most of the resources. The PoS has a lot of resources, but it is the exchange and the Token Fund capital. Many capitalists have invested in the exchange. Based on strategic considerations, the capital side will hope to assist the exchange to obtain more revenue and flow through the entrusted business, so it will become a super-large PoS mine pool if it can obtain the agency services of the exchange.
Although the consensus mechanism of PoW and PoS is quite different, the motive of capital profit and maximization of profit will make the node and the mining pool business model very similar. In the future, there will be PoS nodes such as fish ponds and ant mine pools in the PoW era.
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