-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA512 Note how transaction malleability can quickly sabotage naive notions of this idea.
Equally, if this looks like it might ever be implemented, rather than using a hard fork, using a forced soft-fork to deploy changes becomes attractive. On 30 December 2015 12:08:36 GMT-08:00, "Emin Gün Sirer via bitcoin-dev" <[email protected]> wrote: >Ittay Eyal and I just put together a writeup that we're informally >calling >Bitcoin-United for preserving the value of coins following a permanent >fork: > > >http://hackingdistributed.com/2015/12/30/technique-to-unite-bitcoin-factions/ > >Half of the core idea is to eliminate double-spends (where someone >spends a >UTXO on chain A and the same UTXO on chain B, at separate merchants) by >placing transactions from A on chain B, and by taking the intersection >of >transactions on chain A and chain B when considering whether a payment >has >been received. > >The other half of the core idea is to enable minting of new coins and >collection of mining fees on both chains, while preserving the 21M >maximum. >This is achieved by creating a one-to-one correspondence between coins >on >one chain with coins on the other. > >Given the level of the audience here, I'm keeping the description quite >terse. Much more detail and discussion is at the link above, as well as >the >assumptions that need to hold for Bitcoin-United. > >The high bit is that, with a few modest assumptions, it is possible to >create a cohesive coin in the aftermath of a fork, even if the core >devs >are split, and even if one of the forks is (in the worst case) >completely >non-cooperative. Bitcoin-United is a trick to create a cohesive coin >even >when there is no consensus at the lowest level. > >Bitcoin-United opens up a lot of new, mostly game-theoretic questions: >what >happens to native clients who prefer A or B? What will happen to the >value >of native-A or native-B coins? And so on. > >We're actively working on these questions and more, but we wanted to >share >the Bitcoin-United idea, mainly to receive feedback, and partly to >provide >some hope about future consensus to the community. It turns out that it >is >possible to craft consensus at the network level even when there isn't >one >at the developer level. > >Happy New Year, and may 2016 be united, >- egs & ittay > > >------------------------------------------------------------------------ > >_______________________________________________ >bitcoin-dev mailing list >[email protected] >https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev - -- Sent from my Android device with K-9 Mail. Please excuse my brevity. -----BEGIN PGP SIGNATURE----- iQE9BAEBCgAnIBxQZXRlciBUb2RkIDxwZXRlQHBldGVydG9kZC5vcmc+BQJWhDuA AAoJEMCF8hzn9Lncz4MIAIObFNbRRJ5g52H8yprqAjX76Lt7vw+cwCnICNzHra5h iuTWxgbwED5fki2Q96ZzYAyUf7ju7rI45qBl8YuuVUlyxJgE6oV6h2oJoxGQNGz0 WvrOjWMkmARNs0FM4GMsKQWcmIMgZxWnWTMOXv0EDBLySsm8WFRu9H4drGBB+Fmb wFRyi0XVDiXxsVUoNj6pCdcpekdnuq+V87IoweoxigfqgWIM31Vb9QK8Y/7vWO2b 0lu0CvVdqvw5Npx55LWLF1tY8jbw6BYvgXwZGtUazKO+x8i3Qt6+tRm07+UXvkoR 3erxzhnoZa3F66ufz+ImY7l0E/AyRE5ox+1W68hO6sk= =d0+L -----END PGP SIGNATURE----- _______________________________________________ bitcoin-dev mailing list [email protected] https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
