Author: Hector Chu 2015-08-08 15:03:04
Published on: 2015-08-08T15:03:04+00:00
In a discussion on the bitcoin-dev mailing list, Hector Chu asked about the possibility of locking coins until a certain date for casting votes on an issue. Peter Todd responded by pointing to a proposal made by John Dillon in which coins would be locked up as part of a block size vote scheme. Todd's response included a link to Dillon's proposal, which outlines a system for allowing users to vote on proposals related to the block size limit by placing their coins into a specific script that can only be spent after a certain block height. The longer the coins are locked up, the more weight they carry in the vote. This system is intended to incentivize users to make long-term decisions about the future of the Bitcoin network, rather than making short-term decisions based on immediate gains.
Updated on: 2023-06-10T18:56:34.950295+00:00