Responses inline.
On 6/22/2017 9:45 AM, Erik Aronesty wrote:
> Users would tolerate depreciation because the intention is to have a
> cheap way of transacting using a two-way pegged chain that isn't
> controlled by miners. Who cares about some minor depreciation when
> the purpose of the chain is
Users would tolerate depreciation because the intention is to have a cheap
way of transacting using a two-way pegged chain that isn't controlled by
miners. Who cares about some minor depreciation when the purpose of the
chain is to do cheap secure transactions forever?
Add in UTXO commitments an
Thanks a lot for the reply, let me think it over and come up with a proper
response. You and Conrad may be right about the proposal being irrelevant
to DDoS, so I'll try to come up with the more solid argument supporting my
point of view, otherwise, I will refute the proposal myself). At the moment
Hi Ilya,
This proposal wouldn't work because bad actors can perform PoW just as cheaply
as any other participant.
The transaction fee already acts as a mechanism to prevent spam. It is not a
problem to have a lot of low value transactions in the mempool as thresholds
can easily be set for th
Thank you, Conrad, for the feedback and I think I can see your points
clearly, but I would disagree that decentralised proof-of-work doesn't
change game rules drastically.
You are correct about proof-of-work market splitting into
"transaction-miners" and "blockchain-miners", but this is not just an
Hi Erik,
I don't think that your design is competitive. Why would users tolerate
a depreciation of X% per year, when there are alternatives which do not
require such depreciation? It seems to me that none would.
Paul
On 6/20/2017 9:38 AM, Erik Aronesty wrote:
> - a proof-of-burn sidechain is the
As soon as there is competition for block space, people will likely
outsource creating the proof of work on the transaction to "transaction
miners". This would likely result in giving a fee to those transaction
miners. If those are the same miners as those mining the block, we are back
at the curre
