Author: Emin Gün Sirer 2015-12-30 20:08:36
Published on: 2015-12-30T20:08:36+00:00
Ittay Eyal and egs have proposed a technique called Bitcoin-United, which aims to preserve the value of coins following a permanent fork. The technique eliminates double-spends by placing transactions from one chain onto the other and taking the intersection of transactions on both chains to confirm payments. It also enables new coins to be minted on both chains while preserving the 21M maximum by creating a one-to-one correspondence between coins on both chains. Bitcoin-United is a trick that creates a cohesive coin even when there is no consensus at the lowest level. It opens up new game-theoretic questions such as what happens to native clients who prefer one chain or the other. The authors are actively working on these questions and more, but wanted to share the idea with the community for feedback. The technique provides some hope about future consensus to the community.
Updated on: 2023-06-11T02:54:07.501789+00:00