Author: Adam Back 2015-05-12 23:48:06
Published on: 2015-05-12T23:48:06+00:00
In a discussion on the Bitcoin-development mailing list, Gavin Andresen proposed four potential future scenarios for how mining incentives might work. These included fee-supported with large blocks containing lots of tiny-fee transactions, proof-of-idle supported, fees purely as transaction-spam-prevention measures with chain security via alternative consensus algorithms, and fee-supported with small blocks containing high-fee transactions moving coins to/from sidechains. Pedro Worcel questioned moving away from proof-of-work, which is the big breakthrough that made Bitcoin possible. Gavin Andresen responded by encouraging different scenarios, stating it's better not to "bet on one horse". Additionally, Adam suggested trying to prove mathematically whether proof of stake can work in a decentralized fashion that doesn't weaken the bitcoin security model without proof-of-work. Thomas Voegtlin requested the same kind of roadmap for miner incentives as was provided for scalability.
Updated on: 2023-06-09T20:43:50.904570+00:00