Author: Eric Voskuil 2018-01-18 05:22:47
Published on: 2018-01-18T05:22:47+00:00
In a recent email thread on the bitcoin-dev mailing list hosted by the Linux Foundation, a new algorithm was suggested by Enrique Arizón Benito that could potentially reduce the electricity cost of mining Bitcoin. The algorithm involves the use of the concept of "next-coinbase" and expiring threads. The consensus chooses who can participate in the next round, after which selected miners are allowed to participate. This algorithm reduces the difficulty/power-bill by 1/2^N for each round. Additionally, with the addition of thread expiration, there is little motivation for anyone to shell/buy "next-coinbase" addresses since their utility is limited.While the anonymity decreases in the sense that if you know a next-coinbase address owner, you know all its related next-coinbase for the expiring (physical-time-limited) thread, the anonymity increases in the sense that miners will consume less energy, which facilitates the tracking of miners. Another message was also posted on the mailing list that included a Bitcoin address and PGP RSA key. The Bitcoin address given is bc1qcash96s5jqppzsp8hy8swkggf7f6agex98an7h, with a nested Segwit address of 3NULL3ZCUXr7RDLxXeLPDMZDZYxuaYkCnG. Along with these details, there is also a quote by nullius, stating that just because one has nothing to hide does not mean they should have to show everything.
Updated on: 2023-06-12T23:50:42.824587+00:00