Author: Ilya Eriklintsev 2017-06-22 13:41:55
Published on: 2017-06-22T13:41:55+00:00
The author of an email to a bitcoin developer mailing list has suggested a modification to the simple proof-of-work puzzle in order to make Bitcoin more secure, decentralised and DDoS resistant. The idea is to extend the concept of proof-of-work so that transactions could be hardened with the same proof-of-work algorithm, incentivising all miners to include that particular transaction. Such a mechanism would give a handicap to every miner who includes "mined" transactions into the next block, increasing their probability of receiving a block reward. The author argues that this would prevent a continuous DDoS attack targeting the Bitcoin network. The author suggests that such a protocol change could be implemented as a user-activated soft-fork. The current system relies on miners deciding which transactions to include in blocks, but the only incentive for users wanting to transfer their bitcoins is setting the transaction fee that goes directly to the miner. The proposed solution would incentivise miners to include transactions deemed important by their sender and supported by some amount of proof-of-work. This could benefit both miners, who would be offered direct incentives to include important transactions, and users, who would have increased assurance that the transaction would be included in the next block.
Updated on: 2023-06-12T02:55:17.004544+00:00