Author: Jorge Timón 2019-05-23 19:03:09
Published on: 2019-05-23T19:03:09+00:00
Tamas Blummer, a blockchain developer, proposes a new opcode called OP_DIFFICULTY that would allow for a native solution to hedge risks in Bitcoin mining. The proposed transaction would be valid after the difficulty adjusted block in the future and its output script would compare the value of difficulty with a strike which key can spend it. The input of the transaction would be a multi-sig escrow of those who entered into the bet and the winner would broadcast. Blummer plans to draft a BIP for this proposal which he believes would serve significant economic interest of Bitcoin economy, and is compatible with Bitcoin's aim not to introduce 3rd party to do so. However, some people may complain about this proposal due to the potential for the same tx to become invalid in some other block mining it, and the need to break some existing encapsulations during implementation.
Updated on: 2023-06-13T19:04:09.592846+00:00