Author: Peter Todd 2013-05-06 23:44:11
Published on: 2013-05-06T23:44:11+00:00
In an email thread discussing the value of D (difficulty) in determining the expected return in Bitcoins from the block reward had the hasher solved valid blocks, Peter Todd suggests using the txid:vout pair of a txout that can only be spent once as a non-reusable proof-of-work for transferable assets on the blockchain. This method would require less communication than Bitcoin, but would take away from the overall security of the network and make it easier to rent hashing power. Todd notes that the final proof is more compact than a fidelity bond proof.
Updated on: 2023-06-06T16:09:16.969218+00:00