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Random, totally not thought all the way through, idea. Could a decentralized nullifier be put in the blockchain? Allow the consensus algorithm to "vote" for whe
by whoopdedo 6y ago
Random, totally not thought all the way through, idea. Could a decentralized nullifier be put in the blockchain? Allow the consensus algorithm to "vote" for when an address should be marked as invalid and miners would reject transactions with it. It would work by someone submitting an "anti-coin" transaction and wagering their own coin. Miners would provide PoW to confirm the transaction but instead of the miners collecting a reward they pay a fraction of the initial wager. Once enough blocks with a confirmation of the anti-coin are mined to pay back the wager it's accepted as permanent. Now the only way to use that address would be to fork the blockchain. On the other hand, if the anti-coin is not accepted the submitter loses their wager, so it becomes expensive to attempt to destroy coins without cause.
But I don't know nearly enough crypto to even guess at whether or not this is a really stupid idea. Don't torch me for being foolish.
- Taek 6y agoYou can do this on a technical level but on a practical one it creates pathways for abuse which defeat much of the purpose of using crypto in the first place. And attackers like the one in the twitter attack would just choose to use cryptocurrencies where this isn't possible.