Add EIP: Bitcoin Proof-of-Stake

[etan-status]

[eth-bot]

File EIPS/eip-7671.md

Requires 1 more reviewers from @axic, @g11tech, @gcolvin, @lightclient, @samwilsn

[github-actions[bot]]

The commit 23ac17c48e312d665fb361399a2e6a8c11c6354f (as a parent of 3dc2bbfccec0b8a9f551c1bdd7992e65fdd59dfe) contains errors. Please inspect the Run Summary for details.

[wjmelements]

Shouldn't this be a BIP?

[emmanuel-awosika]

Shouldn't this be a BIP?

Since the proposal requires buy-in from the Ethereum community (mainly node operators), it makes sense to put out an EIP first. The current spec does include a phase where a BIP is created to enable the transition, though. Relevant quote from the Stage 3: Signalling in Bitcoin blocks section:

When >= 30% of produced Ethereum blocks over a sliding 4-week period (6*24*7*28 = 28'224 blocks) indicate support for this EIP by including a valid Bitcoin block hash in their graffiti, a Bitcoin Improvement Proposal (BIP) SHALL be created defining a version bit that represents support by miners to eventually transition to Ethereum Proof-of-Stake.

@wjmelements

[etan-status]

• Renamed document to reflect assigned EIP number
• Added Rationale, Backwards Compatibility and Security Considerations sections
• Fixed typos and incorrect computations for number of blocks, adjusted period from from 12-weeks to 13-weeks (quarter year)

[SamWilsn]

*checks date* Let me know if you intend to pursue this.