MultiversX Tracker is Live!

Miner specific transactions

Bitcoin Reddit

More / Bitcoin Reddit 92 Views

Lately, there has been lots of talk about mining pool centralization and the fact that 2 entities are constructing the majority of blocks (Foundry & Antpool + proxies).

Now, it’s a little concerning to realize that if those parties collude, transactions could realistically be censorable, especially with the threat of if a smaller pool mines a block and both the bigger miners are threatening to orphan them if they don’t censor.

I’m not a miner, so, I don’t have any hash rate to point at a smaller pool, so, there’s really nothing I can do. But, it does have me thinking, there must be a way to construct a transaction such that only a specific miner or list of miners can include that transaction in a block.

For example, if you know the public key of a miner, you should be able to make a transaction that is essentially the same as a multisignature except the miner you wanted to include your transaction is the one that holds the 2nd private key, so, only they can actually sign & re-broadcast the transaction.

Or, if you wanted a list of smaller miners, maybe you could do a “2 of 10” multisig of some sort.

Although, I’m not sure that you could broadcast partially signed transactions through mempools as they’re currently set up.

It seems like, maybe there would be other people out there like me who might want to do a transaction such as cold storage consolidation where you don’t mind waiting a while and paying a slightly higher fee and would also like to support smaller miners so that the bigger ones don’t continue to consolidate market share.

Does anybody know if that’s possible or something that has already been tried?

submitted by /u/some-other-btc-guy
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.



Comments