Post
Topic
Board Development & Technical Discussion
Re: Proposal for Community-Driven Theft Prevention Feature in Bitcoin Network
by
ABCbits
on 07/06/2024, 09:53:57 UTC
IMO there's almost no chance your proposal will be applied on Bitcoin network. Anyway, your proposal is very long and there are many questionable technical detail. Here are few of those,

Transaction Lifecycle Modifications

  • FlaggedTransaction Creation: When a user detects unauthorized access or theft, they can initiate a FlaggedTransaction via their wallet interface. This transaction includes the transaction ID of the suspicious transaction, a digital signature of the claimant, and a preliminary evidence package.
  • Temporary Transaction Freeze: Upon network acceptance of a FlaggedTransaction, the disputed funds are temporarily frozen, preventing any further transfers. This state is maintained until the resolution of the claim.

How many FlaggedTransaction can be created by someone? How does it handle TXID which involve multi-sig address where multiple people may be involved?

Community Verification Nodes (CVNs) Setup

  • Node Selection: Nodes apply to become CVNs by submitting a proof of stake and a reputation score, derived from their historical activities and peer reviews within the network. The selection process is automated, governed by smart contracts to ensure fairness and transparency.
  • Role of CVNs: CVNs are responsible for reviewing all submitted evidence, interacting with claimants, and possibly contacting involved parties for additional information. Their task is to assess the validity of the claim based on the evidence and vote accordingly.

How exactly reputation score is determine? Is there any minimum Bitcoin amount before someone can submit a proof of stake? What happen if CVN doesn't bother do it's role? What if someone wish to become CVN without any on-chain blockchain history?

Voting and Consensus Mechanism

  • Voting Protocol: After reviewing the evidence, CVNs submit their votes through a secure blockchain interface. Votes are encrypted and revealed only after all CVNs have voted to prevent influencing decisions.
  • Consensus Achievement: A transaction is reversed only if a supermajority (e.g., 75%) of CVNs agree that the evidence substantiates the theft claim. This high threshold ensures that reversal is truly reflective of community consensus.

Does all CVN have same vote weight or the weight determined based on amount of staked Bitcoin?