bitcoin-dev

Reasons to add sync flags to Bitcoin

Reasons to add sync flags to Bitcoin

Posted on: July 26, 2016 13:51 UTC

The basic idea presented in this context is that all miners ideally begin hashing the next block at the same time, as miners with a head start are more profitable.

The techniques used by miners to receive and validate blocks quickly create centralization pressure. To solve this problem, the author proposes the use of a sync flag, which could propagate through the network at maximum speed like a starting flag at a race. The sync flag message consists of the hash of the previous block, Bitcoin address, and nonce. If miners had to include the hash of this flag in the next block, then all miners would wait for this flag, and when it suddenly spread through the network, they could simultaneously begin hashing the next block. The implementation of this idea does not require any forks and has been previously described as "optimistic mining." The author provides a link to a blog post with more details on this concept and a video explaining it with graphics.