From: Gregory Maxwell <gmaxwell@gmail•com>
To: Adam Back <adam@cypherspace•org>
Cc: Bitcoin-Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] 2-way pegging (Re: is there a way to do bitcoin-staging?)
Date: Mon, 17 Mar 2014 08:55:41 -0700 [thread overview]
Message-ID: <CAAS2fgRk6LaT8RACnM+f612JmUPPO04sJD02SMGvOz=LKzGJsA@mail.gmail.com> (raw)
In-Reply-To: <20140316225819.GA19846@netbook.cypherspace.org>
On Sun, Mar 16, 2014 at 3:58 PM, Adam Back <adam@cypherspace•org> wrote:
> 2. you move coins to the side-chain by spending them to a fancy script,
> which suspends them, and allows them to be reanimated by the production of
> an SPV proof of burn on the side-chain.
One point to note here is that the if the whole move and quieting
period stuff sounds
cumbersome— thats because it is. Even with the best efficiency optimizations the
security requirements result in somewhat large and slow transactions—
and thats totally fine!
A key point here is that normally someone who needs to use coins on one chain or
the other can use fast atomic cross-chain transactions[1][2] and not
bother with the
slow direct movement across. The cross chain swapping, however, requires an
(untrusted) counterparty on the other chain, while the 2-way peg migrations can
be performed alone in order to provide liquidity and balance demand.
[1] https://en.bitcoin.it/wiki/Contracts#Example_5:_Trading_across_chains
(Hm the citation there is weird, that predates TierNolan's post)
[2] https://bitcointalk.org/index.php?topic=321228.0
CoinSwap: Transaction graph disjoint trustless trading
(private version)
next prev parent reply other threads:[~2014-03-17 15:55 UTC|newest]
Thread overview: 27+ messages / expand[flat|nested] mbox.gz Atom feed top
2013-05-19 13:23 [Bitcoin-development] is there a way to do bitcoin-staging? Adam Back
2013-05-19 15:08 ` Peter Vessenes
2013-05-20 6:34 ` Alan Reiner
2013-10-14 18:08 ` Adam Back
2013-10-14 18:21 ` Jeff Garzik
2013-11-21 20:22 ` coinscoins
2013-11-21 20:35 ` Melvin Carvalho
2013-11-21 21:11 ` [Bitcoin-development] bitcoin 1.x & 0.x in parallel (Re: is there a way to do bitcoin-staging?) Adam Back
2014-03-16 22:58 ` [Bitcoin-development] 2-way pegging " Adam Back
2014-03-16 23:22 ` Jorge Timón
2014-03-17 15:55 ` Gregory Maxwell [this message]
2013-10-14 18:43 ` [Bitcoin-development] is there a way to do bitcoin-staging? Michael Gronager
2013-10-14 20:20 ` Alan Reiner
2013-05-22 3:37 ` zooko
2013-05-22 4:12 ` Jeff Garzik
2013-05-20 7:12 ` Luke-Jr
2013-06-13 13:39 ` Adam Back
2013-06-14 19:20 ` Peter Todd
2013-06-14 20:50 ` Adam Back
2013-06-14 21:10 ` Luke-Jr
2013-06-14 21:25 ` Andreas Petersson
2013-06-15 0:09 ` Dennison Bertram
2013-06-15 1:57 ` Luke-Jr
2013-06-15 8:43 ` Dennison Bertram
2013-06-15 11:18 ` Melvin Carvalho
2013-06-15 13:26 ` Dennison Bertram
2013-06-16 15:46 ` Dennison Bertram
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