Quote from: Bitinvestor on February 26, 2014, 05:28:37 PM

It seems that merged mining for scrypt has arrived:

https://litecointalk.org/index.php?topic=15666.0

That makes me want to build a rig and start PoW mining again!
I think Novacoin should implement merged mining as well because it would make us truly energy efficient.

You are right about energy efficiency but there are a some problems:

• AUX PoW is cost-free for a miner;
• There are a few big mining pools which will be able to introduce a centralization into PoW mining.

These things are serious problem because one or two big LTC pools will take a major part of PoW emission for free. I presume that we shouldn’t introduce a possibility of this scenario, especially if the pool operator decides to keep mined coins for himself instead of distribution. Because it allows somebody to get a significant part of stake for free, which contradicts to the network security model.

As far we know, some payment processors and users accepts 0/unconfirmed transactions. But this solution is not secure, because it’s possible to create two transactions with the same inputs, but different outputs.

http://eprint.iacr.org/2012/248.pdf

Attacker is able to send a first transaction directly to victim, and then broadcast a second transaction over the network. This couldn’t be prevented using the proof-of-work design, but it’s possible to fight with such manipulations through using an extension for our proof-of-stake system, and we even don’t need a chain fork to implement this.

Continue reading →

Translate to hash script:
http://novacoin.su/tx/6509332d0c6802cc02aca10dba35b305d9a791dd51aebc5a133437a6ed0f3ed3

Translate from hash script to address:
http://novacoin.su/tx/786c54a3e00cc851e6697128119a3b2d9be8f4480f86a48b35266bf120054a94

More information:
https://github.com/CryptoManiac/novacoin/commit/fc462f579d392011645c7fabcfc10ec45ca44bb5#commitcomment-3885423