From: Erik Aronesty <erik@q32•com>
To: Bitcoin Protocol Discussion <bitcoin-dev@lists•linuxfoundation.org>
Subject: [bitcoin-dev] parallel token idea & question
Date: Sun, 26 Jun 2016 08:12:11 -0400 [thread overview]
Message-ID: <CAJowKgJKQ+4MU1pUE6s7kJL2+r2rLfJC0V1X96CK=Z5FvV8p9A@mail.gmail.com> (raw)
[-- Attachment #1: Type: text/plain, Size: 1056 bytes --]
token miners who will work to the a new token signal readiness to secure
that token by posting a public key to the bitcoin blockchain along with a
collateral and possibly a block mined from a side chain, or some other
signal proving sufficient participation (allows for non-blockchain tokens).
coin moved to the new token set is sent to a multisig wallet consisting of
miners who have signaled readiness, with nlocktime set to some time in the
future
coin sits in that wallet - the new token doesn't even have to be a chain,
it could be a DAG, or some other mechanism - following whatever rules it
pleases
any time, miner of the new system can move coin back to the main chain...
trivially and following whatever rules are need. also, any time a miner
fails to follow the rules of the new system, they lose their collateral
any sufficient consortium of miners/participants in the side chain can, of
course, steal that coin...but that is true for all sidechains - and to some
extent bitcoin - anyway
does this seem too simplistic or weak in some way?
[-- Attachment #2: Type: text/html, Size: 1220 bytes --]
reply other threads:[~2016-06-26 12:12 UTC|newest]
Thread overview: [no followups] expand[flat|nested] mbox.gz Atom feed
Reply instructions:
You may reply publicly to this message via plain-text email
using any one of the following methods:
* Save the following mbox file, import it into your mail client,
and reply-to-all from there: mbox
Avoid top-posting and favor interleaved quoting:
https://en.wikipedia.org/wiki/Posting_style#Interleaved_style
* Reply using the --to, --cc, and --in-reply-to
switches of git-send-email(1):
git send-email \
--in-reply-to='CAJowKgJKQ+4MU1pUE6s7kJL2+r2rLfJC0V1X96CK=Z5FvV8p9A@mail.gmail.com' \
--to=erik@q32$(echo .)com \
--cc=bitcoin-dev@lists$(echo .)linuxfoundation.org \
/path/to/YOUR_REPLY
https://kernel.org/pub/software/scm/git/docs/git-send-email.html
Be sure your reply has a Subject: header at the top and a blank line
before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox