Author: Peter Todd 2015-06-12 18:47:34
Published on: 2015-06-12T18:47:34+00:00
In an email conversation, Benjamin expressed his opinion that implementing a mechanism of user input would be misguided and that proof-of-stake outcomes are determined by vote by stake. He also argued that in Bitcoin's early days, miners were roughly identical to users and the concept of "miners" did not exist. Additionally, he noted that transaction verification must be profitable but there is no fixed formula for determining profitability. In response, Peter Todd suggested reading John Dillon's proposal which uses proof-of-stake to explicitly apportion control of increases via % of Bitcoin owned. Despite the difficulties in representing everyone, Todd considered the nVersion thing to be easy to implement.
Updated on: 2023-06-09T22:52:57.742049+00:00