Author: shymaa arafat 2023-02-28 10:02:47
Published on: 2023-02-28T10:02:47+00:00
A proposal to change the way transaction fees are collected and distributed in Bitcoin mining has been introduced in a Bachelor's thesis. The proposed solution involves only taking a fraction of the fees while the rest is sent to one or more contracts, which redistribute the fees back to the miner in a "smarter" way. This would not introduce any new Bitcoins, but would instead collect, average, and reward the fees back to the miner in a cooperative manner. The benefits of this approach are discussed in the paper, including increased security and predictability against fluctuations in fees. However, there are flaws in the proposal, such as the possibility of undercutting attacks and difficulty in achieving miner consensus. The paper also lacks references to op_codes or implementations, making it unclear how the smart-contract would be constructed. Despite these issues, the proposal suggests a potential solution to the long-term miner incentives problem that may arise when block subsidies run out.
Updated on: 2023-06-16T15:57:16.104254+00:00