Author: Paul Sztorc 2017-05-22 15:30:46
Published on: 2017-05-22T15:30:46+00:00
In this context, Ryan is seeking more reviews for a project, but is not in any immediate rush. Charlie has planned to meet with RSK after their event tomorrow. Peter Todd responds to Paul Sztorc's email about the concept of "Blind Merged Mining" and how it relates to drivechains. Todd expresses concerns about the security properties of the proposed concept and its weaker nature compared to what he proposed in Zookeyv. He suggests that miners may have to upgrade to a full node to prevent theft from sidechains, which could be an expensive and time-consuming operation. However, this requirement would not affect miners relative to each other because the incentive to upgrade is only for the purpose of preventing improper withdrawals from sidechains. The costs of such a theft would be shared collectively by all future miners and would not impact their revenues or ability to mine generally. Miners also have other recourse if they are unable to run the node, such as rejecting any withdrawals they don't understand or resorting to semi-trusted methods to supplement their decision. Finally, Todd asks for clarification on the incentive for miners to engage in these actions, and Paul explains that the benefits include a higher BTC price and greater transaction fees, while theft is discouraged by attempting to tie it to a loss of confidence in the miners.
Updated on: 2023-06-12T00:58:27.320770+00:00