Author: Peter Todd 2016-05-22 08:55:33
Published on: 2016-05-22T08:55:33+00:00
In an email conversation on May 20th, 2016, Johnson Lau referred to a proposal he made in 2015 regarding Bitcoin mining. In his old proposal, only the pruned UTXO set and 32 bytes per archived block were required for mining. However, Lau acknowledged that it would be more difficult for users to spend archived outputs because they would need to know the status of other archived outputs from the same block. Lau suggested that third party archival nodes could perform full re-scans of the blockchain to generate proof. Peter Todd, who was also in the email thread, claimed that he had a better fleshed-out proposal than Lau’s. In Todd’s proposal, the dormant UTXO list is indexed by UTXO expiration order, making it impossible to verify the contents of that commitment without the global state of all UTXO data. Todd argued that local verification is not possible because nothing commits to the contents of the UTXO set.
Updated on: 2023-06-11T05:28:35.253719+00:00