Preventing Reorgs with a Vote on Blocks and Transactions

Like Bitcoin, EarthBucks mines will validate each transaction and each block. But unlike Bitcoin, each block also includes a domain name where the mine can be reached. This domain name can be validated to be correct by asking that domain name (over a standard HTTPS protocol including a .well-known file) for the block header. This allows us to have an authentic list of miners for each 2016 block adjustment interval, and enabling us to vote on blocks and transactions.

After a mine validates a transaction or a block, there will be a vote on the transaction or block. This vote will be a simple majority vote from mines. If the vote passes, the transaction or block is considered valid. If the vote fails, the transaction or block is considered invalid. This vote will be recorded in the database and will be used to determine the longest chain.

This simple vote, an extra validation feature above and beyond what was provided by Bitcoin, guarantees that a reorg will never occur, and allows truly instant transactions, and makes all the software simpler. When a mine validates a transaction, that means more than 50% of mining power validates the transaction, guaranteeing its inclusion in a block. When a mine validates a block, that means more than 50% of mining power validates the block, guaranteeing its inclusion in the longest chain.