Author: Chris Page 2015-02-23 19:27:17
Published on: 2015-02-23T19:27:17+00:00
Chris Page is seeking feedback on his idea for improving security and increasing the number of full nodes while providing more avenues for bitcoin distribution. The idea involves a new block endorsement system where a subset of nodes can endorse blocks as valid and preferred, and miners can add endorsements to their coinbase transaction. This would require a change to the best chain selection algorithm to encourage miners to include endorsements. The endorsement reward would be shared evenly between all endorsers included in the coinbase. The proposal includes details on how the endorsement system would work, including restrictions on who can endorse a block and what constitutes a valid payout address. It also discusses the potential impact on 51% attacks and mining strategies. Chris acknowledges that there are still gaps in his idea that need to be explored and welcomes feedback on how to proceed with implementation or whether a new BIP should be recommended.
Updated on: 2023-06-09T18:04:22.952505+00:00