The Peercoin Advanced Relay Subnet (PARS) is a subnet of the peercoin network that can mint non-standard transactions without forking the peercoin chain.
In short, it made it possible to get the following OP_RETURN transaction in the peercoin chain:
Ezekiel 25:17 The path of the righteous man is beset on all sides by the iniquities of the selfish and the tyranny of evil men.
Blessed is he who in the name of charity and good will shepherds the weak through the valley of darkness,
for he is truly his brother's keeper and the finder of lost children. And I will strike down upon thee with great vengeance and furious anger
those who attempt to poison and destroy my brothers. And you will know my name is the Lord when I lay my vengeance upon thee.
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Unfortunately the current blockexplorers fail to correctly display this non-standard transaction, but you can verify it as follows:
And decode the resulting hex string. (you might use http://string-functions.com/hex-string.aspx)
[size=14pt]Direct donation: PARSecHDJ2mLw3q18FExaxZcx6AQsWDzrP[/size]
[size=14pt]Questions & help: https://peercoin.chat/channel/pars[/size]
If you are actively minting, please consider joining the PARS network. It allows innovation on our main chain!
Existing PARS minters, please upgrade to the latest version!
- All non-standard redeem transactions for P2SH transactions are relayed. This is needed to spend smart contracts on our chain.
- The 'getinfo' rpc call shows the PARS version information e.g. "PARS:0.5.4(v0.5.4ppc-7-ge1946db-dirty)"
- Other peers can be identified as PARS nodes, so you can check how many PARS connections your node has.
- Blocks minted by PARS nodes are tagged, so that the effective PARS minting power can be monitored.
How does it work?
The current protocol allows any valid script to be included in the chain. However, it does only relay a limited set of standard transaction types. This means that non-standard transactions won't be relayed by the network and have very little chance to make it into the chain.
This is where PARS steps in. PARS is a set of nodes that relay and mint more types of transactions. This means that every time a block is minted by a PARS node, the current set of non-standard transactions relayed in the PARS is flushed into the chain. The more minting power joins the PARS network, the faster we can get non-standard transactions in the chain.
PARS is operational today, not an empty promise.
Read a use case here: https://www.peercointalk.org/index.php?topic=4684.msg44265#msg44265
The beauty of peercoin is that you don't need to control a mining pool to get a block in the chain. This allows for experimentation with the non-standard transaction types without massive investments and without compromising the security or stability of the main chain. This simply can't be achieved on a pure PoW network without controlling a significant mining pool.
The reason not all transactions are relayed is that the script system can be used to DoS attack the network. To be on the safe side, peercoin (just like bitcoin) whitelists a limited set of known trasaction types that are known to have no DoS vulnerabilities.
The PARS also uses whitelisting but will upon request enable non-standard transactions with only limited review. This allows for rapid development, but makes it more vulnerable to DoS attacks.
Since the PARS is a subnet of the peercoin network, only the PARS will be affected in case of such a DoS attack, but the peercoin network will just continue to operate as it doesn't relay the DoS transaction.
DoS attacks on the PARS should be encouraged to show vulnerabilities in specific transaction types.
What it is not
The PARS is not a soft fork of Peercoin, nor does it try to replace the standard client. The PARS shall always obey the peercoin protocol, and should never control more minting power than needed for effective experimentation.
How does it benefit Peercoin?
As this concept is made possible due to the blessing of PoS, we can attract people exploring Bitcoin's script system.
As txn types get explored in the PARS, we might consider accepting them in the reference client after in depth testing. This might convince new innovations to build on our chain instead of going back to their home chain.
The increased activity on our chain burns txn fees and therefore lowers our inflation. Welcoming experimentation can benefit our currency thanks to the genius of burned txn fees.
PARS can also allow things like smart contracts to be used on Peercoin's chain.
How do I setup a PARS node?
Get the peercoin-advanced-relay client: https://github.com/hrobeers/peercoin-advanced-relay
Add the following to ppcoin.conf: "addnode=22.214.171.124:9901"
You can also check out this video tutorial...