Does this mean that miners can’t steal funds from a sidechain like Jimbocoin claims? My understanding is that they could still block the peg-out. Is this accurate? If so, what % of the votes is needed to block a peg-out? Are there any penalties for a miner to vote against a bundle that is accepted? Are there any penalties for a miner to vote for a bundle that is rejected? #Bip300 #Drivechain #Bitcoin #BTC
Discussion
No, to all of that.
Miners vote on a bundle hash the way you and your friends vote for pizza night being next tuesday. Its a pass or fail. If the bundle does not go through, nothing is stolen, transactions inside are delayed temporarily and an attempt to go through is made again.
It is not a vote in favor of one bundle over another.
they will eventually go through because some non-trivial number of miners will eant them to (to collect the fee)
Nothing can be stolen as the transactions are sidechain side user initiated, and their contents blinded.
If one bundle does not go through to prevent a specific transaction, miners do not know if that that is actualy in a completely different bundle seeking votes, or a future one.
Example: i want to peg out. The miners target the bundle they think that tx is in. I cancel my peg out. On the settlement date they've targeted a tx that's alreadycbeen cancelled and rebundled in one they are not targeting.
While there are no direct costs to non cooperation, there are rewards for cooperation and indirect costs.
Thanks for the clarification, if miners can’t know which transaction is in which bundle then it’s not a legit concern. Is it still true that 25% of the hashpower can block a bundle? It seems that this could lower the barrier to entry censoring peg-out. It probably wouldn’t censor them forever but it could degrade the whole experience though. Imagine your withdrawals being delayed for an extended and unknown period of time. #Bitcoin #Bip300 #drivechain