Seconded - IMO a key future use of the chain will be securing other chains. I'm interested in pursuing the merged-mining angle.
Getting chain hashes to a miner, and getting that miner payment from the chain, is key to this. Consider a future where there are 10,000 chains secured by one block... On Wed, Oct 29, 2014 at 10:34 AM, Sergio Lerner <sergioler...@certimix.com> wrote: > Instead of discussing what will happen when the subsidy is halved (which > nobody really knows) maybe we can think about of what we can do to > mitigate any damage in case something unwanted happens. Let's be proactive. > > For instance, any form of merged-mining (like higher frequency > side-chains) will end-up increasing miners profit, even by a small > margin. Then that margin can compensate miners not to turn off their > equipment. Then we can encourage merge-mining on SHA-256, instead of > discouraging SHA-256 alt-coins. > > Also we can encourage mining during the "trouble" period by creating a > donation pool: suppose we manage to convince miners to donate 1% of > their revenue in order to pay back to the miners for the first month > after the reward halving. If every block pays 1% for 10 months, then > every block during the first month of halving will earn 20% more. Of > course, convincing miners of this may be difficult, but not impossible. > It could be done automatically with nLockTime freeze of transactions > with high fees, so no TTP is necessary. > > So here are two proposals, any other idea? > > Best regards, > Sergio. > > > > ------------------------------------------------------------------------------ > _______________________________________________ > Bitcoin-development mailing list > Bitcoin-development@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/bitcoin-development -- Jeff Garzik Bitcoin core developer and open source evangelist BitPay, Inc. https://bitpay.com/ ------------------------------------------------------------------------------ _______________________________________________ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
