Author: Erik Aronesty 2022-07-11 20:52:39
Published on: 2022-07-11T20:52:39+00:00
Miners are urged to create anyone-can-spend outputs in order to incentivize other miners to build on their block instead of reorganizing it. This will require some floating capital due to coinbase maturity. The approximate investment needed to reorg the chain for a double-spend attack is calculated as (reward + avg fee) * 144 * 365 (one year). In 30 years, assuming fees remain negligible due to layer 2 and 3, only 1200 bitcoin would be required for the security budget which may not be sufficient. However, there are several factors that could allow for the security budget to be feasible such as assuming the price goes up, transactions get more expensive or not caring about double-spend attacks for large transactions. The author believes engineering block demand is a better solution than ignoring it.
Updated on: 2023-06-15T22:50:14.702769+00:00