Bitcoin Days Destroyed as block selection heuristic



Summary:

Dave has proposed a new method of choosing between two block solutions. He suggests that instead of using the first-seen block, a more sophisticated tie-breaker should be used. This new heuristic could lead miners to safely mine a sibling block instead of a child block when a new block with the most work is seen and there are no ties. However, it also opens up the possibility for miners to double-spend some confirmed transactions and orphan a small non-empty block whenever the block confirming them is easily replaced. This could lower the security of 1-conf transactions. The risk can be measured and is sometimes very small, but this issue can be fixed by preferring non-empty blocks to empty ones or only switching if the new block doesn't double spend transactions in the old one. Jorge Timón states that there is already a criterion to choose between two block solutions: the one with more work (in valid blocks) on top of it.


Updated on: 2023-06-10T22:18:59.614426+00:00