Economic-Majority Signaling for OP_CTV Activation

Economic-Majority Signaling for OP_CTV Activation

Original Postby ZmnSCPxj

Posted on: March 10, 2024 05:27 UTC

The discussed scheme introduces a method where the bet made by a counterparty could be utilized as a fee for miners, allowing an individual to keep their own funds.

This approach is particularly innovative in scenarios involving chainsplits, where the outcome of bets and transactions can significantly vary depending on the specific chain being supported. Rather than gaining the value from what the counterparty has sold if victorious, an individual simply retains their original funds in their preferred chainsplit. Moreover, this strategy directly incentivizes miners to process transactions on the desired chainsplit by offering the counterparty's bet as a mining fee.

This mechanism fundamentally serves to distinguish transactions based on the chainsplit they are part of, providing a tailored solution to address the complexities associated with such events. The underlying principle is to ensure that individuals can promote and support their chosen chainsplit without losing their stakes, while also motivating miners to align with their preferences through financial incentives. This concept not only enhances the dynamics of betting in the context of blockchain forks but also proposes a practical way to influence miner behavior and transaction processing priorities during chainsplits.