* [bitcoin-dev] parallel token idea & question
@ 2016-06-26 12:12 Erik Aronesty
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From: Erik Aronesty @ 2016-06-26 12:12 UTC (permalink / raw)
To: Bitcoin Protocol Discussion
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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?
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