Author: Mike Hearn 2015-05-28 10:30:55
Published on: 2015-05-28T10:30:55+00:00
The article discusses the concept of assurance contracts for paying miners in Bitcoin. The current system pays miners regardless of whether they support or oppose the user's interests, but assurance contracts propose to pay miners based on their actions. However, the article notes that transaction fees already exist as a mechanism for paying for security and may be more effective than assurance contracts. The author also acknowledges that the success of assurance contracts is uncertain and that funding development through crowdfunding is still an experimental plan. Additionally, the author mentions that existing crowdfunding platforms do not typically incorporate ongoing costs into binary contracts.
Updated on: 2023-06-09T20:42:21.212876+00:00