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2.14 Transaction Snips.pptx

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2.14 Transaction Snips.pptx

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Transaction snips are unique snips that will contain the external data i.e., the transactions constructed by client wallets which are appended to the continuous hashes run by the blink packet clock, producing accurate timestamps and validating the Proof of speed competition. These transaction snips will include, the transactions and their taxes. Fees are included in separate snip - Coinbase snip for validation and punishing if there is any incompetency or dishonesty

Transaction snips are unique snips that will contain the external data i.e., the transactions constructed by client wallets which are appended to the continuous hashes run by the blink packet clock, producing accurate timestamps and validating the Proof of speed competition. These transaction snips will include, the transactions and their taxes. Fees are included in separate snip - Coinbase snip for validation and punishing if there is any incompetency or dishonesty

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2.14 Transaction Snips.pptx

  1. 1. Project Blink Proof of Choice - 2.14 Transaction Snips
  2. 2. Transaction Snips ● Transactions alter the state of the UTXOs by consuming and creating new UTXOs as result. ● This happens linearly in blinkchain where the unconfirmed transactions are broadcasted to the packet owners to add to Transaction Snips ● Transaction Snip propagated after Collateral Snip
  3. 3. Transaction Snips ● Each hash of each snip shall contain transactions as external data and produce the next hash by appending all the serialized data. ● Hence, a snip should contain one transaction at least to be validated as a snip. ● Snips between Collateral Snip and Coinbase Snip are Transaction Snips
  4. 4. Next : 2.15 Coinbase Snip

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