An Open Supply Mining Pool Bounty and DEVgrant

Ethereum’s current reliance on Proof of Work (PoW) mining isn’t very best, and whereas we proceed to work with gusto in the direction of a Proof of Stake answer (PoS), we now have to stay with PoW as gracefully as potential (not less than till the eventual swap!). In the meantime, within the curiosity of total community well being, mining decentralization and variety is a transparent crucial:

Although there are some cases of open supply Ethereum pool mining software program obtainable, the uptake has been low, and there seems to be a big effectivity hole between proprietary and obtainable open supply pool software program.

We suggest to vary that.

As of at present, the Ethereum Basis is providing a bounty to a developer or group who needs to start this mission, primarily based on the “efficiency” of the top outcome:

100 ETH per % hashpower that adopts the software program, as much as a most of 8% per independently managed pool or 33% whole, whichever is lesser. (eg. swimming pools A,B,C with 6% every -> 1800 ETH, pool A with 25% + pool B with 5% -> 1300 ETH, swimming pools A,B,C,D,E with 7% every -> 3300 ETH)

To assist improvement within the meantime, DEVgrants will add an extra $10,000 grant, as soon as the mission is underway.

We’re open to quite a lot of approaches, as long as the top outcome supplies an easy-to-setup mining pool underneath a permissible supply license that gives comparable returns to current ethereum mining swimming pools (dwarfpool, ethermine, and many others). We’ll award the bounty to the mission that we discover essentially the most fascinating and viable.

For candidates who don’t draw back from the warmth of public debate, please go away a 1-2 paragraph proposal in this reddit thread. Vitalik and others will overview the content material and focus on its deserves publicly. If, then again, you want to make your proposal in non-public, chances are you’ll electronic mail grants@ethereum.org. Please observe nevertheless that your mission shall be publicly disclosed (and inevitably mentioned advert nauseum) in the end.

We welcome everybody to place their heads collectively on fixing this situation, seeing it as one more alternative for the superior Ethereum neighborhood to rise to the event!