Author: Sergio Lerner 2014-05-02 11:48:38
Published on: 2014-05-02T11:48:38+00:00
The Bonneau's Kickbacks problem is an interesting issue as it creates a destabilizing incentive. A way to prevent Kickbacks and provide a conflict resolution strategy that benefits all members of the network has been found. The GHOST protocol is a paper that addresses the Bitcoin block-chain design and aims to achieve higher TPS securely by changing the way nodes decide which is the best chain fork. One issue not considered in the paper is the existence of a selfish bias independent of the miner’s hashing power. Double-betting is a mining strategy pre-programmed in the Satoshi reference miner. If two competing miners could detect the other miners' identity in blocks, they could apply a cooperative strategy like Tit for Tat. DECOR (DEterministic COnflict Resolution) is a reward strategy that incentives resolving conflicts in a deterministic way that benefits all conflicting miners at the same time. It practically eliminates any possible block-chain reversal when miners are rational. The DECOR strategy can be implemented along with the GHOST protocol. Using both protocols together, along with route optimizations proposed here, maybe 2000 TPS can be achieved today.
Updated on: 2023-06-08T22:11:29.508833+00:00