Author: email at yancy.lol 2021-03-12 22:37:23
Published on: 2021-03-12T22:37:23+00:00
The email exchanges that this context refers to are related to the Bitcoin development mailing list hosted by the Linux Foundation. There is no additional information beyond links to sign up for the mailing list and an explanation of its purpose.Within this mailing list, the Lonero Foundation has submitted a BIP pull request for a draft on GitHub related to an upgrade in the cryptography layer. The proposed upgrade aims to improve hashing validation efficiency and prevent future vulnerabilities like NP-Completeness or Halting. The proposed upgrade will be developed as a hard fork and is expected to take around 400 hours of time to complete.During the discussion, it was suggested that proof-of-burn could be a nice alternative to proof-of-work. Also, it was noted that secp236k1 isn't a hashing algo, and the BIP needs about ten more pages and some degree of technical merit. Erik suggested starting from the Proof of burn link and Bitcointalk link.There were concerns raised about how proposing a hard fork in the hashing algorithm would invalidate the enormous amount of capital expenditure by mining entities and disincentivize future capital expenditure into mining hardware that may compute these more "useful" proofs of work. However, Andrew believes that his proposed hybrid proof would not disenfranchise currently optimized mining entities.The foundation hopes to describe various parts of the cryptographic proof and algorithmic structure after the BIP is assigned a number. Andrew, who is associated with the foundation, is willing to follow up with many preprints or publications and start dev work before upgrading to final status.
Updated on: 2023-06-14T19:04:04.792122+00:00