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Date: Tue, 17 Dec 2013 14:48:46 -0800
From: Mark Friedenbach <mark@monetize.io>
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Subject: Re: [Bitcoin-development] RFC: MERGE transaction/script/process for
forked chains
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-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1
Transactions != blocks. There is no need for a "merge" block.
You are free to trade transactions off-line, so long as you are
certain the other parties are not secretly double-spending coins they
send you on the block chain.
When connection to the bitcoin network is re-established, you simply
transmit the transactions and in the regular course of things they
make their way into one of the next blocks.
Any transactions which derive from the double-spent one are invalid.
But that's your problem, not the miners - chase after Bob and get him
to give you the money he owes.
On 12/17/2013 02:41 PM, Troy Benjegerdes wrote:
> I want to get some feedback.. I've used distributed version control
> systems for a long time, and the most useful feature is to be
> able to merge two different forks.
>
> So what's the equivalent of this for Bitcoin or other
> crypto-currencies?
>
> Let's suppose that me and my friends get 'islanded' from the rest
> of the internet for a week, but we still want to trade bitcoin. It
> would work if there are local miners, until we reconnect.
>
> Suppose we have the main chain (Alice), while bob is on a boat,
> trading with some friends, but has no network connectivity.
>
> When bob reconnects with Alice, a 'Merge' transaction happens where
> a miner looks at bob's forked blockchain, sees no double-spends,
> and includes BOTH chains.
>
> Now suppose someone on bob's boat has a buggy client, or sent a
> transaction before disconnect that results in a double-spend on the
> merge.
>
> So we have a merge conflict, which generally requires human
> interaction, so bob and his friends broadcast a MERGE request with
> a transaction fee sufficient to cover reconciling the
> double-spends, AND incentivize a miner to do some extra work to
> merge.
>
> Thoughts everyone?
>
> -- Troy
>
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>
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