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 BD3AF258 for ; Sat, 26 Aug 2017 21:01:59 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-lf0-f52.google.com (mail-lf0-f52.google.com [209.85.215.52]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 163F9D9 for ; Sat, 26 Aug 2017 21:01:59 +0000 (UTC) Received: by mail-lf0-f52.google.com with SMTP id y15so10277890lfd.0 for ; Sat, 26 Aug 2017 14:01:58 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20161025; h=mime-version:from:date:message-id:subject:to; bh=kklac6MtJvug0Rz7pxiqfSvKvaCF9faaYyZlgWkKukg=; b=A6ibIXpl9v8R1+piJjWXtl6QIdsWfNvDM4w+rTTxTCyNmHtsxu7P8kHnUJuqr/BKHI oyItbxdEqRIM833W666n5q17VXWhRB7k0r8SABjDr+yVjM8JoFELbkapw1tq9Id6DLlv lj+XDkoqDoZe5CSC+df1OOaQRVI4NZ3hKtsb2UtMHw71Jnga+L5DRpNhrfUEy6fs2suh 3aB0cKGtOBL/VvLSRYXpm72t7MmRq9ChLKkCE6gPG2e+bdo3/DfmKBLE3iu5WTZNH/Rg xi0HxgXVD1gojQ72leMoIXd7bAhSsCimlYdmZe7xFzXgXI8v6Anldwk3o+WXGJ/yNBCx r3Vg== X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=1e100.net; s=20161025; h=x-gm-message-state:mime-version:from:date:message-id:subject:to; bh=kklac6MtJvug0Rz7pxiqfSvKvaCF9faaYyZlgWkKukg=; b=b9fiziZ3G4qBA4PtszfVMSeMZOLwGo+/9xOYwNdQiNOR9Ue054E17tUaQWe3Ya1XLy ozr9lHM1yAB/gBfMSqywx4PQzaARVO6FvtxypK65fZ1hzxQMqX1tuwGdOQVtYySaYxPo N5rgMOqG/eZRnI7WxDNSGaFkfTOXuck4nOY977A596ck0Z3B1FbDawjk/gZ352sAzWMB gq7MmgDXnn/R/hM1bhLcxdHdJM12KV5FhM/FbKSqyVywr0et/C8vLe21Q4EQgCjAefm8 oKYObpXAjXsqsqKiByaLlRMqmcRnpUEVkJbnMkFo+Z4Pmk96LNR6UyAKUoc9t8r3AtuL YbUg== X-Gm-Message-State: AHYfb5jIn6LSSJKeKv3Wm9vD4XbytP2YzGGeBrky0SOrKWVHlhrU9veh QXu+Js6Ve0IkLMQC6BuPiZsX/R2Ay9lB X-Received: by 10.46.5.80 with SMTP id 77mr898996ljf.91.1503781317021; Sat, 26 Aug 2017 14:01:57 -0700 (PDT) MIME-Version: 1.0 Received: by 10.46.20.76 with HTTP; Sat, 26 Aug 2017 14:01:56 -0700 (PDT) From: Adam Tamir Shem-Tov Date: Sun, 27 Aug 2017 00:01:56 +0300 Message-ID: To: bitcoin-dev@lists.linuxfoundation.org Content-Type: multipart/alternative; boundary="001a114a7264389a030557ae5f8b" X-Spam-Status: No, score=0.4 required=5.0 tests=DKIM_SIGNED,DKIM_VALID, DKIM_VALID_AU,FREEMAIL_FROM,HTML_MESSAGE,RCVD_IN_DNSWL_NONE, RCVD_IN_SORBS_SPAM, TVD_PH_BODY_ACCOUNTS_PRE autolearn=disabled version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Mailman-Approved-At: Sat, 26 Aug 2017 21:12:44 +0000 Subject: [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 21:01:59 -0000 --001a114a7264389a030557ae5f8b Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable 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 =E2=80=9CGenesis Account=E2= =80=9D, this account=E2=80=99s Private Key and Public Key will be available 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 =E2=80=9Cmines=E2= =80=9D 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.
Adam Shem-Tov --001a114a7264389a030557ae5f8b Content-Type: text/html; charset="UTF-8" Content-Transfer-Encoding: quoted-printable
=09 =09 =09 =09

<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 =E2=80=9CGenes= is Account=E2=80=9D, this account=E2=80=99s 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 =E2=80=9Cmines=E2=80=9D 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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