merged-mined parallel chains without native currency

trust-minimized-bmm-miner.txt

          +------+                             +-------+                                   +---------+
+-------> |      | +-------------------------> |       |   - - - - - - - - - - - - - - ->  |potential|
          | BMM  |                             |  BMM  |                                   |  BMM    |
          |block |                             | block |                                   | block   |
          |      |                             |       |                     - - - - - ->  |         | +---- - - -
          +------+                             +-------+                    |              +---------+            |
                                                                                             tx A
                                                                            |                                     |
                                                                                                                  v
                                                                            |                                 BMM miner
                                                                                                              gets 600 in return
                                                                            |                                 200 profit
               lightning transactions                                                                         200 paid in tx fees
               each with the same PTLC                                      |
               that when fulfilled reveal
               the signature for tx B                                       |

   BMM transactor +----100------->                  +----------------------------+           +-------------------+-------------------+
                                                    | locked funds: 800 =        |           |nTimelock: current + 10                |
   BMM transactor +----100------->   BMM miner +--> | (100 * 4) from transactors |  - - - -> |paid to no one, just donate            |
                                                    | 400 from the miner himself |           |fees to miners.                        |
   BMM transactor +----100------->                  | multisig between all BMM   |           |or paid to some nonprofit organization.|
                                                    | transactors and the BMM    |           +---------------------------------------+
   BMM transactor +----100------->                  | miner.                     |                       tx B
                                                    +----------------------------+
                                                            tx 0

        protocol steps:
        1. BMM transactors find coordinator
        2. they all agree on tx 0 and miner puts some of his funds just to keep him honest
        3. they all agree on tx A, the transaction that will attach itself to the BMM string
           transactors can see the block produced by miner and check its hash
           they all get a copy of tx A they can publish if miner doesn't
        4. miner builds tx B and shares with transactors, that is the transaction that makes them all lose money
           transactors sign that, but miner doesn't sign, his signature is "sold" as the fulfillment value
           for the lightning payments
        5. transactors all send lightning payments to BMM miner, he waits until they all arrive, fulfill them and
           publishes tx A
        6. if tx A goes through, fine. if not, miner and transactors must agree on a new block and a new tx,
           if they don't agree, after 10 blocks tx B may get published and they all lose their money