[ad_1]
TL;DR
On the Bitcoin Community, while you submit a transaction, a bunch of independently owned computer systems compete to win the fitting to course of it. After it’s processed, the successful laptop will get a 6.25 BTC reward plus a transaction price.
If you’re sending a transaction, you’ll be able to provide a better price to attempt to get your transaction to course of sooner…and as an alternative of providing a $5-$20 price, like a traditional particular person, an worker on the Paxos Crypto Trade (by chance) supplied a cool $500,000.
The miner responded in essentially the most Web3 approach potential – put it to a vote (on Twitter/X).
Wish to see the outcomes? Click on right here.
Full Story
Think about you’re shopping for a flowery new laptop computer. It’s $2,000.
You swipe your card, the cost goes by means of, you stroll away pleased.
However then you definately test your account, solely to search out out that your $2,000 switch of funds got here with a $500,000 price.
The same situation simply performed out on the Bitcoin community.
Right here’s the ‘how’ and ‘what’ of all of it…
On the Bitcoin Community, while you submit a transaction, a bunch of independently owned computer systems compete to win the fitting to course of it. After it’s processed, the successful laptop will get a 6.25 BTC reward plus a transaction price.
That final bit (the price) is what’s vital right here.
See, while you’re sending a transaction, you’ll be able to provide a better price to attempt to get your transaction to course of sooner…and as an alternative of providing a $5-$20 price, like a traditional particular person, an worker on the Paxos Crypto Trade (by chance) supplied a cool $500,000.
(Oooft!).
The miner who obtained the price figured it was a mistake and made a suggestion in good religion, passing the vibe test by permitting 3 days for a complete refund to be claimed.
…however the deadline handed and not using a declare.
In truth, it wasn’t till yesterday that Paxos caught the error and requested ‘hey, um, may we possibly, er, get an extension on that supply?
The miner responded in essentially the most Web3 approach potential – put it to a vote (on Twitter/X).
They gave 4 choices:
Refund Paxos 20 BTC as is
Distribute it to miners
Go fifty-fifty
Simply freeze it
On the time of this writing, there’s three hours left on the clock – however by the point you’re studying this, it would have been determined.
Wish to see the outcomes? Click on right here.
[ad_2]
Source link
