Author: James MacWhyte 2016-05-20 14:30:52
Published on: 2016-05-20T14:30:52+00:00
In a discussion on the bitcoin-dev mailing list, Johnson Lau questioned the usefulness of using the hash of multiple blocks to secure transactions. He argued that since the miner of the last block ultimately determines the results, knowing the hashes of previous blocks doesn't make it any safer. However, pay-to-script-hash can be utilized to protect the details of contracts that use OP_PRANDOM from miners. In these situations, including multiple block hashes as a source of randomness is necessary to ensure control over the results of random numbers. While there is a non-zero risk that a participant in a contract may attempt to bribe a miner, the likelihood of this happening approaches zero as N goes up. Overall, this method provides an added layer of security for certain types of contracts.
Updated on: 2023-06-11T05:30:19.100572+00:00