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ZCA004 - Decrease in huge reorg security margin #1387
We had a discussion about this just now. There are some subtle user-facing impacts here:
Reorg-Triggered Invalidation: We already have a similar issue whenever re-orgs invalidate JoinSplit anchors, in which case the user experience is transaction reversal where funds are 'returned to original senders' at the reorg point. In the additional case that reorg > coinbase maturity, not only do some of the funds get returned to senders, but some 'evaporate' (although other miners have received a similar amount of funds). In some cases, such as the reversion of a single step of JS xfer, a friendly business may reissue a transfer to make some prior economic trade whole. In the case of longer chains, it's much less clear. I don't see the coinbase maturity making much of a difference compared to the invalidation of JoinSplits.
Wallclock Time as Security Parameter: The maturity level should not only be measured in blocks, because the wall-clock time has two crucial features:
Again, because JoinSplit invalidation exists, this complicates the utility of the coinbase maturity for me.