Author: Jeff Garzik 2014-10-29 17:25:19
Published on: 2014-10-29T17:25:19+00:00
A key future use of the chain will be securing other chains through merged-mining, according to a post by an anonymous user on a Bitcoin forum. The user suggests that getting chain hashes to a miner and getting that miner payment from the chain is key to this concept. The user also discusses a future where there are 10,000 chains secured by one block. Meanwhile, in October 2014, Bitcoin core developer Jeff Garzik and Sergio Lerner discussed potential solutions to mitigate any damage that could occur when the subsidy was halved. They proposed encouraging SHA-256 merge-mining instead of discouraging SHA-256 alt-coins, as well as creating a donation pool. The donation pool would involve convincing miners to donate 1% of their revenue to pay back to miners for the first month after the reward halving. Every block during the first month of halving would earn 20% more if every block paid 1% for 10 months.
Updated on: 2023-06-09T03:44:47.197180+00:00