I've been working on Flame, a Bitcoin "side chain", based on proof-of-burn consensus: a fully decentralized protocol in which nodes continuously burn bitcoins to protect against double-spending. I believe this approach avoids shortcomings of proof-of-stake, merged mining, and alternative proof-of-work protocols. There are no special privileges for developers, miners, or validators.
The network architecture combines proposals by Bitcoin developers and a few ideas from other networks, as well as my earlier work, which some of you may know from Chain's TxVM (2017) and Interstellar's ZkVM (2019). Flame provides transaction confidentiality with a programmable constraint system based on Bulletproofs and Ristretto, Taproot-based predicates, Utreexo storage for unspent outputs, and actors with leased storage. I've aimed for a balanced, practical solution for decentralized applications and privacy, with a security model as close to Bitcoin's as possible, while having a purely market-driven adoption strategy that does not require changes to Bitcoin's consensus rules.
I suppose proof-of-burn system on top of Bitcoin creates some interesting dynamics for Bitcoin economics: in terms of demand for block space and long-term relative effects on miners' rewards.
The overview is available at:
https://runflame.org/flame.pdf
The work-in-progress implementation:
https://github.com/runflame/flame-lib
The project is still under development. Mainnet launch is planned for January 2027.
Oleg.
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