Does Binohash grinding behave like a PoW, and is it actually ASIC-resistant?

I've been reading Robin Linus's "Binohash" paper (Binohash:transaction introspection without softforks,https://delvingbitcoin.org/t/binohash-transaction-introspection-without-softforks/2288) and trying to understand the grinding process.

My rough understanding:

  • The spender chooses subsets of signatures from a fixed pool embedded in the locking script
  • Each subset changes the scriptCode via FindAndDelete before hashing
  • The goal is to find a subset where the resulting sighash satisfies a leading-zero condition

So in practice this looks like a search problem over combinatorial subsets rather than a simple nonce space.

Compared to Bitcoin mining:

  • Mining hashes a fixed-size header with a changing nonce
  • Binohash requires modifying KB-sized script data (via FindAndDelete) before each hash
  • Each transaction defines its own independent search space

My questions:

  1. Is it reasonable to think of this as a kind of PoW, or is that a misleading analogy?

  2. What actually limits ASIC acceleration here — the FindAndDelete step, the larger input size, or something else?

  3. Would a specialized ASIC still provide significant speedup, or is this inherently closer to a GPU-style workload?

  4. Does the fact that each transaction defines its own search space make this fundamentally non-competitive, unlike mining where everyone races on the same puzzle?



from Recent Questions - Bitcoin Stack Exchange https://ift.tt/Zaj35uG
via IFTTT

Popular posts from this blog

Crypto Exec Warns Tokenization Is Moving Faster Than Expected

Image
According to a post shared on X by Keith Grossman, president of crypto payments firm MoonPay, finance is heading toward an onchain future that could unfold over several years. The view comes as large banks and asset managers begin product tokenization, a move that once seemed extreme but is now being treated as a practical step by major institutions. Regulatory Signals Push Institutions Forward Based on reports cited by Grossman, progress has accelerated because rules are becoming clearer. Legislative efforts, regulatory guidance, bank involvement and accounting standards are starting to line up. That combination reduces uncertainty, which is often what slows large pools of capital. BlackRock has already launched tokenized funds, while Franklin Templeton is running tokenized money market funds on public blockchains. Those actions suggest that tokenization is no longer confined to pilot labs or internal trials. It is being used with real assets and real clients. Bank of Ameri...
Read more

Bitcoin Mining Could Be Strengthening The Ruble, Russian Central Bank Says

Image
Bitcoin mining may be providing incremental support to the Russian ruble, Central Bank Governor Elvira Nabiullina said, while cautioning that the effect is difficult to measure because much of the sector still operates in a legal and reporting gray zone. Bitcoin Mining May Support The Ruble Responding to a question at a press conference, Nabiullina said it is “probably difficult to quantify” mining’s influence “because a significant part of mining is still in a gray area.” Still, she added that mining is “indeed one of the additional factors contributing to the strong ruble exchange rate.” As Russian business news portal for RBC reported , her remarks come as Russian officials increasingly frame mining and crypto flows as macro-relevant, not just a niche tech or energy story. Earlier, Maxim Oreshkin, deputy head of the presidential administration, said ruble forecasts have been thrown off by the underestimation of financial flows tied to mining and cryptocurrency. In his view, the s...
Read more

Nigerian SEC Partners With Police To Tackle Crypto Ponzi Schemes – Details

Image
The Nigerian Securities and Exchange Commission (SEC) is maintaining an intense focus on the local cryptocurrency industry, as indicated by recent developments. While introducing minimum capital requirements for previously unregulated virtual asset service providers (VASPs), the securities regulator has also formed an alliance with the Nigeria Police Force (NPF) against cryptocurrency fraud, among other illegal operations. Nigerian SEC Looks To Improve Crypto Investors’ Protection According to local media Voice of Nigeria , the SEC is ramping up efforts aimed at investor protection and transparent market operations in the crypto ecosystem. In a recent meeting with the NPF, the Commission’s Director-General (DG), Dr. Emomotimi Agama, communicated to the Inspector General of Police (IGP), Kayode Egbetokun, concerns over malicious actors in the financial markets who exploit investors’ trust for personal gains.  Dr. Agama said: They cloak their deceit in the glamorous but misunder...
Read more