From: Erik Aronesty <erik@q32•com>
To: Bitcoin Protocol Discussion <bitcoin-dev@lists•linuxfoundation.org>
Subject: [bitcoin-dev] Gradual transition to an alternate proof without a hard fork.
Date: Fri, 16 Apr 2021 16:48:35 -0400 [thread overview]
Message-ID: <CAJowKgJNefXZTCJk_EK4JC7uPKsTrGv=yUROpjL_7GGbfNrrvA@mail.gmail.com> (raw)
Not sure of the best place to workshop ideas, so please take this with
a grain of salt.
Starting with 3 assumptions:
- assume that there exists a proof-of-burn that, for Bitcoin's
purposes, accurately-enough models the investment in and development
of ASICs to maintain miner incentive.
- assume the resulting timing problem "how much burn is enough to keep
blocks 10 minutes apart and what does that even mean" is also...
perfectly solvable
- assume "everyone unanimously loves this idea"
The transition *could* look like this:
- validating nodes begin to require proof-of-burn, in addition to
proof-of-work (soft fork)
- the extra expense makes it more expensive for miners, so POW slowly drops
- on a predefined schedule, POB required is increased to 100% of the
"required work" to mine
Given all of that, am I correct in thinking that a hard fork would not
be necessary?
IE: We could transition to another "required proof" - such as a
quantum POW or a POB (above) or something else .... in a back-compat
way (existing nodes not aware of the rules would continue to
validate).
next reply other threads:[~2021-04-16 20:48 UTC|newest]
Thread overview: 8+ messages / expand[flat|nested] mbox.gz Atom feed top
2021-04-16 20:48 Erik Aronesty [this message]
2021-04-16 21:24 ` Jeremy
2021-04-16 21:47 ` Erik Aronesty
2021-04-17 11:19 ` Devrandom
2021-04-17 11:47 ` Anthony Towns
2021-05-21 20:11 ` Billy Tetrud
2021-05-21 20:54 ` Erik Aronesty
2021-04-17 9:41 vjudeu
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