11/ So coinbase txs in this hypothetical protocol are payouts for *blocks mined in the past*, not the present. They are essentially deferred payments.
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I want to focus on this comment of yours, since IMO it touches on the crux of the challenge when designing such a protocol. Using DAG (vs. a simple linked-list) sounds to me more like an optimization and less fundamental. (cc
@real_vijay)https://twitter.com/BobMcElrath/status/1005753364704104449 … -
@jimmysong thinks that there’s no way to ensure that the winning miner cannot cheat, i.e., ignore/censor shares. I’m inclined to agree, curious on how#braidpool solves this. https://twitter.com/jimmysong/status/1005630024396017664 … -
> "the winning miner has no choice in the payout -- he committed to it before he started hashing that block and can't change it afterwards." How does "commitment" work? is commitment backed by PoW?
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The commitment is to a set of half-signed lightning payments dependent on the channel in the coinbase, signed by the block creator. So yes it's backed by PoW.
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Ok. And you said the miner made the commitment *before he started hashing that block*? So does the commitment have any weight before the block has been mined? I'm trying to understand how you prevent the miner from dropping / censoring shares in the payout.
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No it has no weight before he mines the block. It's a Merkle tree commitment just like the transaction Merkle root used in Bitcoin. It's worthless unless you solve the PoW. But if you solve the PoW without the correct commitment, it's an invalid share and won't get paid.
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"Invalid" as in Bitcoin full nodes will reject blocks without correct commitment, right? So full nodes need to update their consensus rules to be aware of this payout commitment in the coinbase? Does
#braidpool require a soft/hard fork? -
These are share-chain blocks, so the share-chain will reject blocks without correct commitments. Bitcoin is blissfully unaware this is going on (and doesn't need to be aware).
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