Bitcoin Hashrate Derivatives
summary
Survey of concrete designs for native Bitcoin hashrate derivatives and why simple height/time bets fail: proposes and analyzes Bosswab (height‑vs‑time correlated transactions), formalizes contention and miner timestamp tampering, shows metastability where both sides race fees and miners can profitably bias outcomes, proves security only under assumptions of economically rational miners, reports a 2023 formalization and ongoing refinements, offers a simple heuristic fix being prepared for peer review and prototype implementation. metastability problem economically rational miners
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chapters (10)
- 0:00Bitcoin contract protocols
- 3:27Contract protocols in Bitcoin
- 8:02Game theory for protocols
- 10:09Expressiveness under judge model
- 13:17Bosswab hash rate derivatives
- 15:23Miner tampering risks
- 17:48Security in Bitcoin Layer 2
- 19:12Hash rate derivative research
- 22:00Solutions and future plans
- 23:07Q&A
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