I had a few ideas regarding the potential benefits of a totally static block time to improve ASIC resistance, further decentralize the network, and create a simpler system for investors to develop economic models. Please poke holes in my logic, I simply thought it would be interesting to hear feedback (and, if I’m not a complete bonehead, maybe give the devs a good idea!)
Totally static block time of 60 seconds - meaning, a new block can only be found every 60 seconds; no more, no less. In order to award the block reward, a “luck” system could be put into place - similar to how some masternode cryptocurrencies work. Every time a node doesn’t receive a block reward, it’s luck goes up and it has a better chance to receive the block reward than a miner that has recently been rewarded. This is all assuming that the miner has found an acceptable hash (proper hash -> place in line for block reward * luck)
My thinking is that this would improve ASIC resistance and motivate miners to have more nodes running rather than more “powerful” nodes (more nodes vs. greater hash capability). This would further decentralize the network and make it more accessible to those who don’t want to buy specialized hardware to join the network. It could possibly even make it profitable for users with normal PC (or even smart phones in the future) to mine and expand the network.
This would likely reduce the need for mining pools as well, since individual users have an equal (or greater) chance of receiving the block reward for solo mining than sharing the reward with other miners in a pool. Since mining pools would have reduced “luck” despite their more sizable hashrate, it incentives solo nodes.
I am certainly not an expert in developing these systems, I only thought it may be an interesting idea; regardless, I’m very interested in the Grin project and look forward to its continued development!