Author: Luke-Jr 2013-06-14 21:10:08
Published on: 2013-06-14T21:10:08+00:00
In a discussion thread from 2013, Adam Back proposed a "fair" merged mining system in which miners would have to choose between mining an altcoin or Bitcoin at the time of mining. This system would require the altcoin chain to consider Bitcoin mine unspendable and vice versa for Bitcoin. The purpose of this system is to ensure that miners prove their sacrifice of potential Bitcoin earnings. Peter Todd responded by saying that this goes back to the PoW hashcash stuff he mentioned earlier, and it can be accomplished by simply mining shares with an unspendable coinbase to prove that the miner did work that could have resulted in Bitcoins but didn't. However, Luke raised concerns about how such a system would work for an altcoin where the price is floating independently of Bitcoin, as it may be difficult to know the right amount of Bitcoin to require sacrificed.
Updated on: 2023-06-06T17:11:49.024566+00:00