Post
Topic
Board Development & Technical Discussion
bitcoin "unlimited" seeks review
by
adam3us
on 02/01/2016, 17:58:17 UTC
The proposers of bitcoin unlimited said they would like to get some review which seems reasonable, if others would like to help.

The proposal seems at first skim to be a copy of a few existing technologies from Bitcoin's roadmap and were first proposed by Greg Maxwell and others*: weak-blocks & network-compression/IBLT to reduce orphan risk, and flexcap (or a variant of it perhaps).

Perhaps they could start by explaining what it is & how it works.  This might include unimplemented ideas, and a summary of what the code currently for download on the manifesto page does.

To review it will be clearer if you state your assumptions, and claimed benefits, and why you think those benefits hold.  (Bear in mind if input assumptions are theoretical and known to not hold in practice, while that can be fine for theoretical results, it will be difficult to use the resulting conclusions in a real system).  Particularly claimed compatibilities with Bitcoin and how the dynamic block-size game-theory is expected to work and remain secure with SPV mining, selfish-mining, block-withholding and fair (progress-free) mining could also use explaining.

I suggest the sensible thing is if there is something new or insightful, that Bitcoin consider adopting the technology and the BU proponents get behind that.

Maintaining a new coin is a rather complex undertaking and screwing up, as something like 40% of projects that have tried it have done, is very expensive of other peoples money.

To make progress on review it would be helpful to separate technical from political opinions.

Adam

* some citations seem to be notably missing, I trust this is unintentional.