Author: John Dillon 2013-05-13 07:31:21
Published on: 2013-05-13T07:31:21+00:00
In the above context, Adam Back had a discussion with Peter about a new proposal that is not merge-mining. Merge-mining is essentially where one Proof-of-Work (PoW) is used for two different blockchains to get more value from just one unit of work. On the other hand, Peter's coinbase hashcash protocol carefully ensures that the act of mining the hashcash is guaranteed to cost the miner at least some well-defined amount, and that amount can be easily calculated by considering the probability that a block could have been found with the effort required to generate the proof of work. Peter's ideas are quite unique and interesting as he has proposed blockchain headers over DNS or twitter system, which is scalable to email scale and does not involve installing a bitcoin client in every client, nor mail server. Blockchain header data is one of the most widely distributed single data sets in the history of mankind, and most of its closest cousins are definitions such as the ASCII table or near definitions like the DNS root servers.
Updated on: 2023-06-06T16:47:01.067494+00:00