Hi

This site is about a new consensus protocol and blockchain. The consensus method is being called Proof of Rainbow.

This site should be viewed as a dev-diary. I intend to update the site as I make further progress.

The goal of this blockchain is to:

  1. Be a memecoin. My goal is not to attract "serious" applications.
  2. Use accounts model, not UTXO.
  3. Not utilize a pre-mine, pre-farm, "strategic reserve", etc.
  4. Instead, include a dev fee for advanced on-chain activity. If you are interacting with the chain, there may be a dev fee.
  • This will not include basic transactions.
  1. Blocks are created every 10 seconds. The global time system will be utilized for synchronization.
  • If all the clocks of the world stop working, we have more serious problems to worry about.
  1. Use a novel proof of space and work consensus algorithm, based on rainbow tables.
  2. Promote custom coins and NFTs to actual types of objects on chain. I do not believe a custom smart contract should be required for a custom coin or NFT. I am promoting these objects.
  3. Still allow scripting with some sort of "visual" interface, to allow average users to interpret the contents of any smart contract. I don't really know what this looks like yet, but I think some ergonomics are needed here.
  4. Allow, Encourage, Effectively require "compression" (actually a time memory trade-off) on all files used for mining.

"Compression"

The last point may surprise anyone coming from a different proof of space-based blockchain. However, I feel there will always be some "cat and mouse" game where proof of space is fighting against some time-memory trade-off. To aliviate this cat and mouse game, we start our blockchain with nearly optimal time-memory tradeoffs: the Rainbow Table.

This has a lot of side-effects, which will be covered in this book. Of particular note:

  • It doesn't seem to increase power usage that much (2x over just disks), if you are running it "optimally" (most lookups per KWh). You can absolutely use more power if you want, though!
  • It places miners in a stable platform, where on-disk formats are not shifting regularly. We get to live in very well-established theory. We do not need to invent new math.
  • We do not need "timelords". They can stay in Doctor Who.
  • It allows ASICs to work, although to work most optimally, they must still have a bunch of disks attached to them. Without disks, they lose very badly to a single semi-modern CPU.
  • ASICs exist for the hashing algorithm used today, so we don't need to theorize about their impact. Later in the book, we will look at what the best ASIC miner would look like, if one wanted to build one.
  • You get to have millions of something (rainbows)!

I am in the very early stages of development. Expect changes to be made to this document over time, as I refine the design.