Best Way To Mine Bitcoins - Allow Errors!

An anonymous reader writes: A recent paper from the University of Illinois at Urbana-Champaign shows that bitcoin mining profits can be increased considerably if mining hardware is allowed to produce occasional errors. The research shows that mining hardware that allows occasional errors ("approximate mining") can run much faster and take up less area than a conventional miner. Furthermore, the errors that are produced by the miner do no corrupt the blockchain since such errors are easily detected and discarded by the bitcoin network. Mining profits can increase by over 30%.

Comments

Re: Shifting the workload onto other people?

[slashping]

No, the false positives are easy to detect locally. A regular CPU in your PC could detect a false positive in much less than a microsecond, and the number of false positives would be small to start with.