Author: Mike Hearn 2015-01-11 18:56:29
Published on: 2015-01-11T18:56:29+00:00
The context begins with an apology for not providing feedback on a protocol related to payment tree that is interesting but complicated. The author suggests forking the existing code in bitcoinj and extending it with new functionality if one wanted to implement it. The author raised the original Satoshi design to inform and compare approaches. If the proposed protocol is superior, then the nSequence approach would be of no further use. The author replies to Gregory and agrees with their phrasing, suggesting that Bitcoin will likely become multi-layered over time with the block chain being the base layer that syncs everyone up and higher layers doing things that miners cannot do or cannot be trusted to do.The proposal from GreenAddress to be a well-known signer who is trusted to not double spend is mentioned. From a miner's perspective, there are multiple schemes where they are viable if cost(fraud) is less than reward(block).
Updated on: 2023-06-09T15:18:14.813033+00:00