Rastislav Budinsky [ARCHIVE] / is on Nostr

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🗓️ Active from 2023-02-27 to 2023-02-27
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2023-06-07 23:19:53

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📅 Original date posted:2023-02-27
🗒️ Summary of this message: A proposed solution for collecting transaction fees in a smarter way, where a fraction of fees is sent to contracts that redistribute it back to the miner. This could make mining more secure and predictable.
📝 Original message:Hello,
I am working on my Bachelor's thesis, in which a new way of collecting
transaction fees is introduced or rather how they are distributed.
When a miner mines a block he takes all the fees currently. However with
the proposed solution he takes only fraction M and remaining fraction C is
sent to one of more contracts. One contract at its simplest collects fees
from the miner and at the same time redistributes it back to the miner.
This means no new Bitcoins are introduced, only the one collected from fees
are collected, averaged and rewarded back to the miner in a "smarter" way.
We can have multiple such contracts, where each averages the collected fees
over different time frames. I would like to refer you to our paper for more
details [1], which is not yet in the final form.
Benefits are discussed in the paper [1] as well, mainly it should make
mining more secure and predictable against drastic fluctuations in fees. I
personally do not think miners should oppose this solution as for most
miners it should make a better mining environment. Similarly in a sense to
what mining pools bring.
I would like to know your opinions about this proposal and we can also
discuss the needed parameters introduced with such a solution if you are in
favor of it or think it might be interesting.
Introducing this solution soon enough will not make a great difference to
miners with current block rewards and at the same time the contracts will
be adapted before transaction fees become the main source of income for
miners.
As I have very little to none developer experience from blockchain's point
(especially on Bitcoin), I am not sure if this would be possible as
soft-fork as scripts in Bitcoin are stateless I suppose.
However maybe a generally spendable script by anyone holding the funds is
created, which a miner of the block would be the one spending it, and the
correct logic of following the contracts is embedded into consensus nodes
themselves. Thus perhaps a less disruptive solution to hard-fork.
Once again, I would love to know your opinions about this & I apologize for
making this a bit less conventional BIP proposal.
[1] https://arxiv.org/abs/2302.04910
Best regards.
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