Long-Awaited Bitcoin Accounting Rules to Capture Rises, Dips (2)
Sep 7, 2023
OverviewWay back in November 2015, Bitcoin researcher Paul Sztorc proposed Drivechains, an improved merged mined sidechain mechanism for Bitcoin. Blind Merge Mining (BIP-301)We have already discussed the benefits of blind merge mining in our November 2020 report. This entity then creates a Bitcoin transaction, which passes on these fees to the Bitcoin miners in the form of Bitcoin transaction fees. We are focusing on this point in this report as we consider it an interesting economic argument about Bitcoin mining incentives, not because it’s especially important in considering the merits of Drivechains. Paul argues that merged mining costs are just like any other mining costs.
