Author: Tyler H 2018-04-25 06:58:45
Published on: 2018-04-25T06:58:45+00:00
Tyler Hawkins has proposed an idea called Numerifides to register human-readable names and arbitrary data. It involves creating a new transaction type known as "numerifides" transactions, where Bitcoin is locked up for a certain amount of time to make the mappings valid and discourage name squatting. The transaction puzzle attached to the transactions allows community consensus revocation of highly contested names or "squatted" name mappings. Transactions are RBF so if a name is contentious or miners wish to censor, one honest greedy miner can include the censored user's high-fee transaction. The mining process is done by incrementing a nonce in the registration data off-chain to prevent "namesquatting" like we see on Namecoin. A secondary network is created for gossiping name->data mappings, which is rooted from the numerifide transactions on the Bitcoin blockchain. Numerifides solves Zooko's triangle of Secure, Decentralized, and Human Meaningful. Tyler welcomes feedback and possible enhancements, and the full working spec can be found at https://github.com/tyzbit/numerifides.
Updated on: 2023-06-13T01:33:33.065129+00:00