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RE: A Cursory Overview of How Vaporchains Work
The input for the amount is taken from the Steem Blockchain not from the memo. All transfers on the Steem Blockchain already require a minimum amount of 0.001 STEEM/SBD before sending. So, that is what Vaporchains read. They only work with STEEM though.
Oh yes that's obvious, thank you very much.
During the bidding process, only one winner will be able to obtain the reward and all the other ones will lose their bid because sending an amount to @null is like burning STEEM coins. Is it right?
If understood correctly, one alternative could be to share the reward proportionally among all the bidders.
I did put some thought into that option when I first started but it ends up defeating the whole purpose of Proof-of-Burn. This is because the same person could have multiple accounts and if he never burns his STEEM he'll just keep getting his money back.
Didn't know about proof-of-burn, this is interesting.
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