Author: Ruben Somsen 2021-04-16 20:30:06
Published on: 2021-04-16T20:30:06+00:00
In response to a proposal by Christopher Gilliard, Ruben Somsen provides feedback on the idea of using a single OP_RETURN root for notarization. Somsen notes that layer two ideas like this have already been explored and suggests using a covenant structure for transactions to achieve fee-bidding blind merged-mining (BMM), which can be done without requiring a specialized soft fork or hard fork. He provides links to BIP-0301 for blind merged-mining for Drivechains, a gist for fee-bidding blind merged-mining with covenants, and a medium article on perpetual one-way peg. Somsen also points out that L2 solutions like Factom, Opentimestamps, Tierion, and Blockstacks use merkle trees to aggregate data hashes and adds that any proposed L2 should be flexible/generic enough to allow for innovation. Meanwhile, Konstantinos Karasavvas provides his own feedback on Gilliard's proposal, noting that there is no actual proposal in it and that incentives need to justify the added complexity for users.
Updated on: 2023-06-14T20:07:33.256257+00:00