It doesn't make money, it's just a simple way of proving you did an approximate unit of work.
What? I’m talking about something like BOINC or whatever, but with a project dedicated to factoring RSA keys. Similar to how we have one for protein folding, and whatever. Now, I’m not familiar with how RSA factoring works, but I’d assume a node would be given a “project” (a range of divisors to test), and if one works, it’ll report the factors back to the central server. Then the server would verify the work, and if it’s correct, we now would have a factored RSA key.
Now, you could do something like Bitcoin where the project is distributed, and if a node claims to have factored the block’s key, it’ll broadcast it to the network and be verified by the other nodes. Then the factorer(?) would be rewarded (idk, maybe FactorCoin?). The problem I see with that is: you would still need an authoritative node to say what they “keys of the day” are.
Maybe some rich person could set up a fund to pay out people who put effort into factoring? Or do a fund where people donate money that’s paid out based on effort?
Now, I am aware that 2048 bit RSA is virtually “unfactorable” before the heat death of the universe, but maybe 1024 bit keys or smaller?
Ultimately, this idea comes from an extension of the idea behind the RSA Factoring Challenge[0]: pay people for factoring keys.
Related reading: https://crypto.stackexchange.com/questions/70829/how-long-do...
[0]: https://en.m.wikipedia.org/wiki/RSA_Factoring_Challenge
Yes, that part. Some node is telling you what key to attack. What if they make the keys, hang on to the factors, and secretly hand them out to nodes they like?
That completely undermines the idea of "proof of work".
Without any real decentralization or proof of work, with a coin that isn't even scarce, nobody is going to mine that coin because they actually want it. They're only going to mine it because they want whatever bounty you're paying in real money. And at that point the coin is just a layer of obfuscation over "We're paying a dollar bounty to crack RSA keys".
If you have an 70 bit hash to break and offer a pile of money to whoever cracks it, you won't get a whole lot of attention. Instead you can offer a steady stream of rewards to anyone that matches at least the first 50 bits, building up a swarm of miners. Eventually someone will match all 70.
The question is whether you can set up a scheme like this for factorization. We already know it's a viable mining method for hashes.
But even with current tech and current methods, 2048 is doable long before the sun burns out. Bitcoin's approaching 2^80 hashes per day, on par with 1024 bit RSA. Rope in 10x as many computers and you could crack 2048 bit RSA in a mere billion days, give or take some constant factors.
The sun's way too small to supernova anyway. It will become a red giant that blows off the outer layers and leaves behind a white dwarf.
Not much going on there... seems the last on-chain transaction happened about a month ago: