Ocean’s TIDES (Clear Index of Distinct Prolonged Shares) is a singular payout scheme designed to supply fairer and extra clear rewards to miners in comparison with conventional strategies like PPLNS or FPPS. This is a breakdown of the way it works:
Key Ideas:
Proof Interval: An outlined window of time (e.g., 8 blocks) used to calculate payouts.
Distinct Prolonged Shares (DES): Every miner’s contribution in the course of the proof interval, weighted by the point their shares had been submitted.
Proof Interval Funds: The whole block reward (together with transaction charges) for the proof interval.
Weighted Proportion: Miner’s share of DES in comparison with the entire DES throughout all miners within the pool.
Alice’s Case (Fixed Contribution):
DES Accumulation: If Alice contributes 20% of shares constantly, her DES will continuously improve all through the proof interval.
Payout: On the finish of the proof interval, the proof interval funds are distributed primarily based on every miner’s weighted proportion of DES. Since Alice contributed 20% of shares, she is going to obtain roughly 20% of the pool’s rewards for that interval.
Frequency: This course of repeats for every proof interval (e.g., each 8 blocks), guaranteeing Alice receives constant payouts primarily based on her steady contribution.
Bob’s Case (Single Block Contribution):
DES: Since Bob solely contributes to at least one block (30% share), his DES can be considerably decrease than Alice’s who contributes constantly.
Payout: On the finish of the proof interval, Bob will obtain a payout primarily based on his weighted proportion of DES, which on this case is 30% of the block he contributed to. He won’t obtain any additional payouts for that proof interval since he did not contribute additional.
Future: If Bob rejoins the pool and begins contributing once more, his DES will start accumulating, and he can be eligible for payouts primarily based on his new contributions.
Benefits of TIDES:
Transparency: Payouts are immediately linked to contributed hashrate, providing clear visibility into earnings.
Equity: Avoids “luck-based” rewards like PPLNS and ensures constant payouts for sustained contributions.
No Custodial Charges: Eliminates the necessity for the pool to carry miners’ funds, decreasing potential dangers and costs.
Vital Notes:
The precise payout quantities can range relying on the entire hashrate of the pool and the variety of miners contributing.
Shares won’t translate on to hashrate on account of potential stale shares or completely different reward calculations for solo mining.
TIDES goals to be honest and correct however might have trade-offs by way of payout frequency in comparison with different schemes.
