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Subject: Re: [Bitcoin-development] Coinbase reallocation to discourage
Finney attacks
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On 4/23/2014 2:23 PM, Tier Nolan wrote:
> An interesting experiment would be a transaction "proof of
> publication" chain.
What if a transaction could simply point back to an earlier transaction,
forming a chain? Not a separately mined blockchain, just a way to
establish an official publication (execution) order. Double spends would
be immediately actionable with such a sequence. Transactions in a block
could eventually be required to be connected in such a chain. Miners
would have to keep or reject a whole mempool chain, since they lack the
keys to change the sequence. They would have to prune a whole tx
subchain to insert a double spend (and this would still require private
keys to the double spend utxo's).
This idea seemed promising, until I realized that with the collision
rebasing required, it would barely scale to today's transaction rate.
Something that scales to 10,000's of transactions per second, and really
without limit, is needed.
Anyway, I wrote it up here:
https://github.com/dgenr8/out-there/blob/master/tx-chains.md
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