- 1 Proof-Of-Distributed-Computing 2.0 (BiblePay)
Proof-Of-Distributed-Computing 2.0 (BiblePay)
PODC allows blockchain energy to be used productively, to help cure cancer and fight AIDS and Malaria, in contrast to being wasted on hashing only.
PODC works by allocating most of BiblePay's computing resources toward BOINC (Berkeley Open Infrastructure Network Computer Grid) World Community Grid projects.
You may earn BBP rewards by using your computer time!
We do this by rewarding the lion's share of our blockchain emissions to WCG Researchers.
By limiting the amount we spend on Proof-of-bible-hash (heat mining) to about 7%, we place the impetus on expanding our humanitarian computing grid, for the benefit of humanity.
Before linking your Researcher CPID to BiblePay, you must have a CPK (Christian-Public-Key). Please create this first if you do not have one. You can find out if you have one by typing 'exec rac'.
If you don't have one, the command will produce a message (asking you to create one).
To create a CPK, type the following command:
exec cpk your_nickname
Please wait at least 3 blocks after creating your CPK before continuing.
How to Link a Researcher to BiblePay
First, you will want to link your World Community Grid (WCG) Researcher Account to your Biblepay Core wallet.
So please, we need to gather three things from you as a researcher first! Please log into your WCG account at:
From the home page - click on "Settings" in the top right corner. Then click "My Profile" from the left menu.
Please find your Username, and copy that value down, then, find your "Verification Code" and copy that value down, and finally, copy your "Cross-Project-ID" value down (as this is what you will see in BiblePay in the leaderboard for your username).
Next, head to the BiblePay core wallet RPC (Click Tools | Console). Type the following command:
exec associate wcg_username wcg_verification_code
This will allow you to associate your account. If the command is successful, it will return your estimated RAC level and the CPID (Cross-Project-ID).
Note: Please wait for at least 3 blocks to pass before performing the commands below, as you must be fully associated before you can query RAC below- etc.
How do I verify my wallet's association, and my RAC Level each day
First, we provide a text method from the RPC that gives you most critical information:
From the RPC console type:
Once you are fully associated, this command emits the RAC, points, nickname, and link status.
If something is wrong, for example if you are not linked, or if something technical is broken, this command will also attempt to debug the problem and provide a solution.
Once you start receiving rewards, you may also head to the Leaderboard from QT. Click "Leaderboard" from the left menu in QT.
Daily Collateral Requirements for PODC
We have two types of PODC users: banked and unbanked. If your total RAC is below 250, you fall in the unbanked category. This category does not require any daily collateral, and you will be auatomatically paid every day.
In the Banked category (Users with RAC > 250), you must stake a collateral amount of RAC to the power of 1.3. Meaning that if your RAC is 1000, you must stake 7944 in coin*age per day from your external purse.
About the External Purse
The concept of the external purse addresses the nuisance in prior versions of biblepay, where we required you to unlock your wallet in order to send daily PODC updates (or to POBH mine with ABNs).
With the external purse, you can fund the "Christian-Public-Key" with an amount of BBP you feel is acceptable to cover the daily collateral requirements for coin age.
You can find this estimate in 'exec rac', or you can calculate it from the above formula.
When the daily PODC GSC transmission occurs, biblepay will seek the coins from the External Purse (even if your wallet is locked).
It will use these as the daily collateral requirement. These coins are sent back to you, so you do not lose capital. However, the coin*age on these will reset. Therefore, you may leave your encrypted wallet Locked, and after 24 hours, you should see that a PODC update was sent by looking at the tx list. All GSC transmissions are sent from you to yourself, so you only lose the transaction fee.
The External Purse private key is stored in an encrypted and base64 formatted value in your biblepay.conf file, so even if someone copies your config file they will not be able to spend the contents of the private key (unless they hack the decryption mechanism and create a fraudulent version of biblepay).
The external purse is created automatically when you perform exec associate, Or when you type 'exec createpurse'.
NOTE: To know what funds are in your external purse, go to coin control and check which amounts are stored in your 'Christian-Public-Key' address. Those funds are used for External Purse GSC transmissions. Change from GSC's is sent *back* to your external purse address (to keep the cycle going day to day without intervention).
NOTE 2: The 'exec bankroll' command has been modified to send the denominated bills to the External Purse. This means you will have change available to funds new GSCs with more granularity.
How to Start Researching
From a high level, please download BOINC for your platform. Then attach the "World Community Grid" project using Project | Attach. Then verify the machine is actually executing new tasks.
A more detailed guide will be added as time permits.
Please refer to this step by step guide: https://wiki.biblepay.org/PODC_Setup
FAQ - Frequently Asked Questions
Q: How do I see my daily earnings?
A: From QT, click Leaderboard | Details. From the WCG Details, look for your CPID (or nickname). The "points" will equal your current RAC. The Amount Owed will equal the daily reward you will receive.
Q: How safe is keeping my daily stake collateral in my external purse?
A: We have gone through great pains to try to make the external purse secure. The external purse private key is encrypted then stored in base64 format in your private biblepay.conf file. So, no one from BiblePay can access the key. Also, if your machine is physically accessed, the hacker will not easily be able to spend the funds with the key, unless they also create a fraudulent version of biblepay to decrypt the key. Next, we added extra code to ensure external purse funds are only able to be spent on GSC transmissions to yourself. The hacker would also need to have knowledge to modify the fraudulent version of biblepay to add the ability to force the transaction creator to read the external utxo's making it even harder. So, we believe this method is superior to our old method (of scripting a wallet unlock during mining), as this keeps the lions share of your coins encrypted and locked, and the smaller amount encrypted with a different key.