[bitcoindev] Flame: confidential transactions with Bitcoin proof-of-burn consensus

[Oleg Andreev <oleganza@gmail.com>]

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I've been working on Flame, a Bitcoin "side chain", based on proof-of-burn 
consensus: a fully decentralized protocol in which nodes continuously burn 
bitcoins to protect against double-spending. I believe this approach avoids 
shortcomings of proof-of-stake, merged mining, and alternative 
proof-of-work protocols. There are no special privileges for developers, 
miners, or validators.

The network architecture combines proposals by Bitcoin developers and a few 
ideas from other networks, as well as my earlier work, which some of you 
may know from Chain's TxVM (2017) and Interstellar's ZkVM (2019). Flame 
provides transaction confidentiality with a programmable constraint system 
based on Bulletproofs and Ristretto, Taproot-based predicates, Utreexo 
storage for unspent outputs, and actors with leased storage. I've aimed for 
a balanced, practical solution for decentralized applications and privacy, 
with a security model as close to Bitcoin's as possible, while having a 
purely market-driven adoption strategy that does not require changes to 
Bitcoin's consensus rules.

I suppose proof-of-burn system on top of Bitcoin creates some interesting 
dynamics for Bitcoin economics: in terms of demand for block space and 
long-term relative effects on miners' rewards.

The overview is available at:
https://runflame.org/flame.pdf

The work-in-progress implementation:
https://github.com/runflame/flame-lib

The project is still under development. Mainnet launch is planned for 
January 2027.

Oleg.

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