From mboxrd@z Thu Jan 1 00:00:00 1970 Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id 3A8E8491 for ; Sat, 26 Aug 2017 21:41:45 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.7.6 Received: from mail001.aei.ca (mail001.aei.ca [206.123.6.130]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 7697FD4 for ; Sat, 26 Aug 2017 21:41:44 +0000 (UTC) Received: (qmail 10768 invoked by uid 89); 26 Aug 2017 21:41:43 -0000 Received: by simscan 1.2.0 ppid: 10763, pid: 10766, t: 0.0095s scanners: regex: 1.2.0 attach: 1.2.0 Received: from mail002.aei.ca (HELO mail002.contact.net) (206.123.6.132) by mail001.aei.ca with (DHE-RSA-AES256-SHA encrypted) SMTP; 26 Aug 2017 21:41:43 -0000 Received: (qmail 30724 invoked by uid 89); 26 Aug 2017 21:41:43 -0000 Received: by simscan 1.2.0 ppid: 30691, pid: 30694, t: 8.7736s scanners: regex: 1.2.0 attach: 1.2.0 clamav: 0.97.8/m: spam: 3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Spam-Level: X-Spam-Status: No, score=-0.7 required=5.0 tests=HTML_MESSAGE, RCVD_IN_DNSWL_LOW, RP_MATCHES_RCVD, TVD_PH_BODY_ACCOUNTS_PRE autolearn=disabled version=3.3.1 Received: from dsl-66-36-135-64.mtl.aei.ca (HELO ?192.168.67.200?) (dermoth@66.36.135.64) by mail.aei.ca with ESMTPA; 26 Aug 2017 21:41:34 -0000 To: Adam Tamir Shem-Tov , Bitcoin Protocol Discussion References: From: Thomas Guyot-Sionnest Message-ID: <57de4421-0162-67c5-8905-10f6b477644c@aei.ca> Date: Sat, 26 Aug 2017 17:41:34 -0400 User-Agent: Mozilla/5.0 (X11; Linux x86_64; rv:45.0) Gecko/20100101 Thunderbird/45.8.0 MIME-Version: 1.0 In-Reply-To: Content-Type: multipart/alternative; boundary="------------94FDD80BCBC57A26EA9D0652" X-Mailman-Approved-At: Sat, 26 Aug 2017 21:44:10 +0000 Subject: Re: [bitcoin-dev] Solving the Scalability Problem Part II - Adam Shem-Tov X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Sat, 26 Aug 2017 21:41:45 -0000 This is a multi-part message in MIME format. --------------94FDD80BCBC57A26EA9D0652 Content-Type: text/plain; charset=windows-1252 Content-Transfer-Encoding: quoted-printable I don't think you fully understand the way bitcoin works. There are no "accounts" and no need to know the private key to change transactions in the chain. What you need is to keep track of all unspent outputs (block number, index, value and script/witness) so that they can be verified once a transaction refers to it. Everything you suggest about moving those funds to a "genesis account" is nonsense and cannot work. -- Thomas On 26/08/17 05:01 PM, Adam Tamir Shem-Tov via bitcoin-dev wrote: > > Solving the Scalability Problem Part II > -------------------------------------------------------------------- >
> In the previous post I showed a way to minimize the blocks on the > block chain, to lower the amount of space it takes on the hard drive, > without losing any relevant information. > I added a note, saying that the transaction chain needs to be > rewritten, but I did not give much detail to it.
> Here is how that would work:
> The Genesis Account: > -----------------------------------------
> The problem with changing the transaction and block chain, is that it > cannot be done without knowing the private key of the sender of the of > the funds for each account. There is however a way to circumvent that > problem. That is to create a special account called the =93Genesis > Account=94, this account=92s Private Key and Public Key will be availab= le > to everyone.
> But this account will not be able to send or receive any funds in a > normal block, it will be blocked--blacklisted. So no one can > intentionally use it. The only time this account will be used is in > the pruning block, a.k.a Exodus Block.
> When creating the new pruned block chain and transaction chain, all > the funds that are now in accounts must be legitimate, and it would be > difficult to legitimize them unless they were sent from a legitimate > account, with a public key, and a private key which can be verified. > That is where the Genesis account comes in. All funds in the Exodus > Block will show as though they originated and were sent from the > Genesis Account using its privatekey to generate each transaction.
> The funds which are sent, must match exactly the funds existing in the > most updated ledger in block 1000 (the last block as stated in my > previous post).
> In this way the Exodus Block can be verified, and the Genesis Account > cannot give free money to anyway, because if someone tried to, it > would fail verification.
> >
> Now the next problem is that the number of Bitcoins keeps expanding > and so the funds in the Genesis Account need to expand as well. That > can be done by showing as though this account is the account which is > mining the coins, and it will be the only account in the Exodus Block > which =93mines=94 the coins, and receives the mining bonus. In the Exod= us > Block all coins mined by the real miners will show as though they were > mined by Genesis and sent to the miners through a regular transaction. > >
> > Adam Shem-Tov > --------------94FDD80BCBC57A26EA9D0652 Content-Type: text/html; charset=windows-1252 Content-Transfer-Encoding: 8bit I don't think you fully understand the way bitcoin works. There are no "accounts" and no need to know the private key to change transactions in the chain. What you need is to keep track of all unspent outputs (block number, index, value and script/witness) so that they can be verified once a transaction refers to it.

Everything you suggest about moving those funds to a "genesis account" is nonsense and cannot work.

--
Thomas

On 26/08/17 05:01 PM, Adam Tamir Shem-Tov via bitcoin-dev wrote:

<B>Solving the Scalability Problem Part II</B>
--------------------------------------------------------------------
<BR>
In the previous post I showed a way to minimize the blocks on the block chain, to lower the amount of space it takes on the hard drive, without losing any relevant information.
I added a note, saying that the transaction chain needs to be rewritten, but I did not give much detail to it.<BR>
Here is how that would work:<BR>
<B>The Genesis Account:</B>
-----------------------------------------<BR>
The problem with changing the transaction and block chain, is that it cannot be done without knowing the private key of the sender of the of the funds for each account. There is however a way to circumvent that problem. That is to create a special account called the “Genesis Account”, this account’s Private Key and Public Key will be available to everyone.<BR>
But this account will not be able to send or receive any funds in a normal block, it will be blocked--blacklisted. So no one can intentionally use it. The only time this account will be used is in the pruning block, a.k.a Exodus Block.<BR>
When creating the new pruned block chain and transaction chain, all the funds that are now in accounts must be legitimate, and it would be difficult to legitimize them unless they were sent from a legitimate account, with a public key, and a private key which can be verified. That is where the Genesis account comes in. All funds in the Exodus Block will show as though they originated and were sent from the Genesis Account using its privatekey to generate each transaction.<BR>
The funds which are sent, must match exactly the funds existing in the most updated ledger in block 1000 (the last block as stated in my previous post).<BR>
In this way the Exodus Block can be verified, and the Genesis Account cannot give free money to anyway, because if someone tried to, it would fail verification.<BR>

<BR>
Now the next problem is that the number of Bitcoins keeps expanding and so the funds in the Genesis Account need to expand as well. That can be done by showing as though this account is the account which is mining the coins, and it will be the only account in the Exodus Block which “mines” the coins, and receives the mining bonus. In the Exodus Block all coins mined by the real miners will show as though they were mined by Genesis and sent to the miners through a regular transaction.

<BR>

Adam Shem-Tov


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