How many FlaggedTransaction can be created by someone? How does it handle TXID which involve multi-sig address where multiple people may be involved?
The proposal includes a safeguard to prevent abuse through the implementation of a fee structure for initiating FlaggedTransactions. This fee is designed to be significant enough to deter frivolous claims—set at 10% of the transaction value or a minimum fixed amount, whichever is greater. The exact value can be adjusted based on community consensus to ensure it serves as an effective deterrent without being prohibitively expensive for legitimate claims. This fee is non-refundable, which further ensures that only serious cases are brought forward. For multi-sig transactions, all signatures required by the wallet configuration must agree to initiate the FlaggedTransaction, maintaining the decentralized and democratic ethos of the network.
10% of TX value? It sounds bad if all victim's Bitcoin got stolen. And is it really not refunded even if majority CVN agree to reserve transaction?
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?
The reputation score is calculated based on past activities and contributions within the network. A minimum amount of Bitcoin is required to stake to become a CVN, aligning their incentives with the network's health. If a CVN fails to perform their duties, they risk losing their stake and damaging their reputation, which can disqualify them from future participation. New participants can build their reputation through smaller, verifiable actions on the network before applying to become a CVN.
What kind of activity or contribution you're talking about? Sending Bitcoin? Receiving Bitcoin? Mining? Something else?
Does all CVN have the same vote weight or the weight determined based on the amount of staked Bitcoin?
All CVNs have equal voting weight, regardless of the amount of Bitcoin they have staked. This is to ensure fairness and prevent wealthier nodes from having disproportionate control over the reversal process.
And what stop wealthier people or group from creating multiple CVN?