VanityDAC - Generate Vanity Addresses

[earthbound]

Not enough computers in the world

Until somebody figures out how to get general purpose quantum computers to work...

It would take more calculations than there are estimated atoms in the universe to crack an SHA256 key. There simply cannot be enough physical energy in the universe to do that.

It also cannot be done by quantum means. That is a common misconception. Quantum computers cannot and never will be able to crack SHA256 keys.

I mean to explain why to the Bitcoin foundation (but first I need to get clarification about it from some Doctors of math and physics whom I know) . . . that myth is perpetuated at bitcoin.org itself

[pgbit]

Great idea for a DAC. Multicurrency would be good. Look forward to hearing more...

[phoenix]

Not enough computers in the world

Until somebody figures out how to get general purpose quantum computers to work...

[bytemaster]

 Not enough computers in the world


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[evisu1]

So, how big would this DAC need to be in order to start cracking private keys within a reasonable time (someone was bound to ask this, i guess)

[phoenix]

This DAC should take into account the length of the address as well as the fee for mining the address, since it'll take so much longer to mine out an extra couple of characters that it might be more profitable to mine out shorter ones for a smaller fee.

[arubi]

Not if you want massive hash power to find very long vanity names.


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Wait, do you mean that there will be massive hash power to find long names, or there won't?

Imagine all the hash power that is 'securing' the network would go to finding your vanity address?   You could create addresses that have very few random bits and a lot of leading 0's.  It would be like a mining pool for vanity addresses.

Well, this is exactly what I'm excited about.

Consider this bitcoin vanity address : 1abcdefghi***....
Solo-mining this address at about 18M keys/s has about a 50% chance for a hit in about 10 days

This address however : 1abcdefghij***...
Has a 50% chance for a hit in about 300 days.
A 10 characters address is not "very long" by any means

This address : 1abcdefghijk***...
Has a 50% chance for a hit in just about 24 years.

So suppose our network is what, 1000 times as strong? 10000 times? Creating addresses such as 1Encyclopedia would still take months if not years to generate.

Should miners participating in this DAC be prepared for years and years of mining?
Maybe it's not even such a bad deal, since difficulty does not change, and is just an outcome of the length of the address that's being mined?

A very interesting concept imo. I would very much like to hear more.

[bytemaster]

Not if you want massive hash power to find very long vanity names.


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Wait, do you mean that there will be massive hash power to find long names, or there won't?

Imagine all the hash power that is 'securing' the network would go to finding your vanity address?   You could create addresses that have very few random bits and a lot of leading 0's.  It would be like a mining pool for vanity addresses.

[arubi]

Not if you want massive hash power to find very long vanity names.


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Wait, do you mean that there will be massive hash power to find long names, or there won't?

[bytemaster]

Not if you want massive hash power to find very long vanity names.


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[yago]

This problem has been solved. Take a look at 'vanitygen' for bitcoin and specifically the 'keyconv' program that comes with it.
This post on bitcointalk.org explains the process pretty well:
https://bitcointalk.org/index.php?topic=25804.0

Cool, thank you!

[arubi]

If a miner generate the private key for a vanity address, how do you keep it private?

Miner pass it to the final user and who can assure that the miner doesnt keep a copy?

This problem has been solved. Take a look at 'vanitygen' for bitcoin and specifically the 'keyconv' program that comes with it.

This post on bitcointalk.org explains the process pretty well:

https://bitcointalk.org/index.php?topic=25804.0

[yago]

If a miner generate the private key for a vanity address, how do you keep it private?

Miner pass it to the final user and who can assure that the miner doesnt keep a copy?

[arubi]

I like this idea.

Will this work other coins' vanity pools?

[bytemaster]

The Vanity Address DAC mines blocks into existence by finding vanity names.
Names are processed on a highest Bid basis and the entire hash power of the network is directed toward finding Vanity addresses for users.
95% of all Fees are paid to miners and 5% are destroyed (to pay as dividends to shareholders).