Author: Christophe Biocca 2014-04-23 16:04:13
Published on: 2014-04-23T16:04:13+00:00
A proposal to attack the coinbase instead of orphaning is discussed in this email thread between Bitcoin developers. This approach allows for 100 blocks' time for consensus to be reached, rather than just 10 minutes, which allows for human intervention if needed. The original specification of how it's done is deemed exploitable and can be fixed by reducing the incentive to burn instead of redistributing. Incentives can be tailored to mirror those of orphaning a block to reduce the risk of abuse. The proposal may also be used to punish miners for doing anything a significant percentage of hash power dislikes. However, this doesn't turn into a significant risk if 75% of hashpower is willing to enforce a rule. The discussion also includes game-theoretic models and the justification for the existence of miners.
Updated on: 2023-06-08T20:50:10.372357+00:00