Hybrid Proof of Work
Lynx has become a cryptocurrency that embraces Solo mining.
Last updated
Lynx has become a cryptocurrency that embraces Solo mining.
Last updated
Lynx evolved into a cryptocurrency ecosystem that embraces Solo mining, enabling individual miners to secure blocks and earn block rewards using everyday devices such as a Raspberry Pi, laptop, or Virtual Private Server (VPS). Unlike traditional mining setups requiring specialized hardware like ASICs or GPUs, Lynx simplifies the process with its built-in miner, eliminating the need for external mining software or pools. Profitable mining was purposefully ineffective due to planned compatibility issues with ASICs and GPUs. Lynx's design philosophy discourages external mining setups due to their inefficiency. To reinforce the solo mining ethos, Lynx introduced the hybrid Proof of Work (HPoW) concept, characterized by three key principles:
Limiting a single miner from winning consecutive blocks within a 60-block timeframe.
Requiring the miner's reward address balance to meet a fluctuating minimum Lynx threshold to secure a block.
Employing random selection to prevent the fastest miners from consistently claiming block rewards.
This protocol was meticulously developed, tested, and implemented to optimize global power consumption within the network infrastructure. Lynx's innovative approach significantly reduced energy consumption compared to Bitcoin while maintaining essential cryptocurrency functionalities.