Cooperative Mining - Stephen Reed, Texai.org

Block rewards are shared among full nodes in proportion to their persistent contribution to the network infrastructure. A portion of the block rewards are allocated to developers, e.g. via contributions to the Bitcoin Foundation or to the local equivalent.

Super peer full nodes take turns creating a new block with trivial effort every 10 minutes.

Other full nodes replicate and verify the single append-only, non-forking blockchain.

How it works . . .

Cooperative Mining

Alice

Blockchain replica

Tamper-evident log

Nomadic Mint Super Peer

definitive blockchain

Tamper-evident log

Bob

Blockchain replica

Tamper-evident log

Each full node maintains a tamper-evident log of its context, inputs, actions and outputs that permit remote attestation by peers.

Full nodes are identified with X.509 certificates and all traffic is TLS encrypted between them. DDoS protection and intrusion detection is provided for seed nodes and other network portals.

The network is managed by trust-free software agents running transparent algorithms.Up to half the full nodes may be faulty and the system still works, with one node having one vote.

How it works . . .

Cooperative Super-Peer Network

Full node

Super peer nodes receive transactions and create new blocks round robin.

Network backbone

Full node

Wallet nodes originate transactions

Transactions New blocks

High capacity backbone

High availability spoke

Consumer grade connection

ExchangePayment Processor

Satoshi’s Bitcoin protocol is preserved with regard to existing wallets and payment processors.

Clients, who receive acknowledgment of their accepted transaction, can be certain that it will be contained in the next block.

Micro-transactions and 100x lower fees are enabled because super peers efficiently store and process the transactions.

This is no industrial mining, no double spending, no Sybil attacks, no Finney attacks, no orphan blocks, etc.

Benefits . . .

Concept-demonstrating altcoin under development: TexaiCoin