About

Slothburn is an experimental cryptocurrency consensus mechanism that scores blocks by their total transaction fees. It is fully decentralizable with no miners, no stakeholders, and no supernodes.

Double-spend forks are disincentivized because an attacker must personally outpay the sum of all of the fees in the blocks burying his original transaction. The drawback is that transaction recipients need to wait many blocks until their payment is well-buried (when an attacker’s loss in fees overwhelms his potential gain). But sloths are allowed to be slow.

In this implementation, fixed transaction fees are “burned” and are not distributed back to anyone. Every block, a fixed number of coins are minted and distributed pro-rata to all accounts, rounded down (with roundings carried forward to the next block). Thus, users are incentivized to ration shared resources – their quantity of on-chain transactions and accounts.

Consensus rules

CONSENSUS RULES

* 1 transaction allowed per sender per block (conflicting transactions result in account deletion)
* 30 second blocktime (hard limit based on server clock accurate to 4 seconds)
* 100 coin fee burned for all transactions (to pay for usage of shared resources via deflation)
* 100 coin minimum account balance (to prune empty/dust accounts)
* 3000 coin block reward distributed pro-rata (for a 1 tx/s equilibrium transaction rate)
* Blockchain branches are scored as the sum of their number of transactions (1/tx + 2/ban) with
  overall length as a tiebreaker

How to install

* Requires NodeJS v12 (10-14 probably work) (e.g. using nvm.sh)
nvm install 12

* Open port 15804 (e.g. on Debian 10 with ufw)
ufw allow 15804

* Go to the directory where you extracted this and install the libsodium dependency
npm install

* Run the node and redirect stdout to your log file of choice (if desired)
npm start etc/config.json >> ~/sb4node.log

* To connect to your node over the web, you'll run into CORS problems unless you use an HTTPS proxy
  with an SSL certificate. (e.g. the bundled https proxy under Debian 10)
ufw allow 80
apt install certbot
certbot certonly --standalone # Will automatically renew with a cronjob/systemctl
ufw allow 16804
node etc/proxy.js sb4node.example.com >> ~/sb4proxy.log

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