Author: Jeff Garzik 2013-06-04 17:42:53
Published on: 2013-06-04T17:42:53+00:00
In a conversation between Jeff Garzik and John Dillon, Garzik discusses the idea of zero-output transactions being permitted with a 100% miner fee. This would serve as an elegant proof of sacrifice but would require a hard fork. Dillon argues that this would not be a valid proof of anything since miners could create these transactions for themselves. Garzik explains that it depends on the security model and economic incentives model. Some models do not care if miners pay themselves, and this behavior might even be encouraged. In such cases, this becomes simply an additional block reward or incentive to buy into identity creation/management systems. While this is no longer a strict "proof of sacrifice" system, it is still valid.
Updated on: 2023-06-06T18:28:21.467906+00:00