HN Explorer

4 comments

[ 2.6 ms ] story [ 18.4 ms ] thread
parths
NEAT! looks promising.

What are your thoughts?

Lowgain
I'm reading the token whitepaper, and I came across the section mentioning "proof-of-burn" as a way to gain Stacks:

     With proof-of-burn mining, miners destroy a proof-of-work-based cryptocurrency (currently Bitcoin) to get tokens
This seems strange to me - in a blockchain such as Bitcoin where the total number of coins are limited, wouldn't this make the bitcoin community want Blockstack off their chain?

Maybe I am missing something, or the amount of bitcoin destroyed will be negligible?

ismaelbej
Bitcoin has a limited supply, so the less available the more valuable each remaining piece becomes.

But I'd guess you will only burns Bitcoins if you get something of more value.