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3 weeks ago (Last updated: 2 days ago)
In community: Bitcoin Cash(e11c)
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Bitcoin is a consensus mechanism enforced with hashpower. Invented by Satoshi Nakamoto —the first miner— to accomplish the global adoption of A Peer-to-Peer Electronic Cash.
BMP is a hashpower voting system, decentralized, on-chain, open-source, verifiable, easy to use, expansible, voluntary and neutral. Where miners, and others, can talk and vote with their hashpower, extending the Nakamoto Consensus in pre-consensus phase. To make possible the empowerment of miners.
SIX REASONS
1) Prevent another split
A split is a division mechanism and is the opposite of a consensus mechanism.
Bitcoin Cash was born from a conflict. It was divided, again, for a second conflict. And now, with 7 nice devs teams, independently funded, in the same blockchain, we continue without a conflict resolution mechanism.
We want peace, but we go to war fast.
This tribalist pattern of conflict —with or without “external interferences”— will be repeated cyclically, with a split in every dispute. Until the total destruction of the Bitcoin project, diluted by atomization.
Prediction made in the Miners are the Executive Power of Bitcoin paper [2017, p2]:
Ignoring these facts will give rise to a brittle Blockchain with a tendency to break with every controversy. Accepting the consensus mechanism means the empowering of the miners in order to wield their legitimate power over the Blockchain to its exact degree.
Prediction made in the BMP paper [2018, p1]:
The human tendency to become entangled in conflict is a predictable pattern. With multiple development teams competing, confrontation is only a matter of time. To resolve this, miners must assume their executive role.
Bangkok Bitcoin Cash Summit [2018-08, day 1]:
The pencil marks are mine. Partial resume.
At the end of the day, there are only two ways to prevent a split:
Voting with hashpower, to solve every dispute before the point of “no return”.
Making Hashwar, with empty blocks and reorg against the minotiry split attempt.
Both ways require a new level of coordination, and the BMP was born to fix this.
2) Conflict resolution
There was a fatal