Author: Tier Nolan 2016-03-07 12:59:16
Published on: 2016-03-07T12:59:16+00:00
The author discusses the need for a way to do consensus enforced sequence numbers without requiring everyone to be online. The locktime would lock transaction outputs instead of preventing transactions from being included in the blockchain, allowing double spending as long as higher sequence numbers are used. A soft fork could be used with a locked transactions list committed to in the coinbase. There would be fees to pay to get into the pending list, and it doesn't change when the final locktime is reached. The author suggests only those negatively affected should have to sign to change the state and proposes a moderator and normal participants system for signing a state change. The hub would likely act as moderator, and there would be a penalty if the moderator signs the same state number twice. Ideally, users would sign updates periodically to reduce clutter, and if someone signs state 180, they are signing all previous states too.
Updated on: 2023-05-23T22:53:21.660938+00:00