Proof-of-Fee, Part 2
In Part 1 of this paper we laid the foundations for Proof of Fee. Some of the ideas expressed there may be different from what you have seen elsewhere, and we do urge you to read that before you begin here. In Part 2 of this paper, below, we get into the mechanics and implementation details of Proof-of-Fee (PoF).
From empirical evidence over the last five years, we have seen few malicious attacks by validators; clearly something is working. We don’t want to break something that is working. What we want to evaluate is whether we can make it sustainably work at a lower cost.…