Author: Jeremy Rubin 2022-04-11 13:18:10
Published on: 2022-04-11T13:18:10+00:00
The discussion covers various topics related to blockchain and its applications. The author apologizes for any confusion caused by the marketing of blockchain schemes as "world computers" and other nonsense marketing. They argue that progress is not useless work and commit to a subset of data that they requested, which is useful work in this context. The author also clarifies that Open Time Stamps (OTS) simply proves data in the past and does not have a chain of transactions. They suggest that having a chain of transactions would linearize the history of OTS commitments, making it more robust in proving knowledge of commits before and after reorgs.Regarding transaction mining, the author proposes doing one transaction with all pending commitments at a particular time instead of wasting money on mining two transactions for a given set of commitments. They provide a diagram to compare the attempt/confirm head model, which tracks attempted and confirmed commitments, to a "spherical cow" model where Replace-by-Fee (RBF) is always perfect and guaranteed inclusion. Despite these technical considerations, the author suggests that the number of transactions used over the time period will remain the same.
Updated on: 2023-06-03T07:21:09.229791+00:00