Author: Michael Gronager 2013-10-14 18:43:26
Published on: 2013-10-14T18:43:26+00:00
In this email thread, Michael mentions that he has already coded the authenticated datastructure of the Ultimate Blockchain Compression in libcoin. He suggests including a p2pool style mining to enable distributed mining and utilize the soft fork by defining the root hash in coinbase blocks as v3. Alan Reiner responds positively to the idea and describes his own approach of reorganizing the blockchain data into an authenticated tree indexed by TxOut script instead of tx-hash. He suggests merge-mining on a "meta-chain" first, which is a non-disruptive way to prove out a particular idea before making a protocol change that significant. Peter Vessenes also finds the idea interesting and proposes an alternate setup that works as a sort of gift economy; people pay real BTC for merge-mined "beta BTC" as a way to support development. Adam Back discusses ways to experiment with new features without imposing a big testing burden on bitcoin main which is a security and testing risk. Overall, the email thread discusses various ideas related to improving the Bitcoin network while minimizing risks and disruptions.
Updated on: 2023-06-06T17:17:30.735552+00:00