Author: Isidor Zeuner 2014-12-15 14:55:06
Published on: 2014-12-15T14:55:06+00:00
The concept of Proof of Burn is to establish an opportunity cost for breaking the rules in Bitcoin. The cost, which involves participants burning their cryptocurrency, serves as a real consequence for following the rules. However, there is no direct effect for those who decide on the adequacy of the cost between Proof of Burn and other approaches that keep Bitcoins within participating outputs. Any notion that differentiates between the two must assume what interests the Bitcoin community as a whole.
Updated on: 2023-06-09T14:36:20.922629+00:00