Subject: Re: [bitcoin-dev] Improving chaumian ecash and sidechains with fidelity bond federations

From: ZmnSCPxj <[email-masked]>
Date: Mon, 16 May 2022 11:26:38 +0000

Good morning Chris,

> I don't know yet exactly the details of how such a scheme would work,
> maybe something like each fidelity bond owner creates a key in the
> multisig scheme, and transaction fees from the sidechain or ecash server
> are divided amongst the fidelity bonds in proportion to their fidelity
> bond value.

Such a scheme would probably look a little like my old ideas about "mainstake", where you lock up funds on the mainchain and use that as your right to construct new sidechain blocks, with your share of the sideblocks proportional to the value of the mainstake you locked up.

Of note is that it need not operate as a sidechain or chaumian bank, anything that requires a federation can use this scheme as well.
For instance, statechains are effectively federation-guarded CoinPools, and could use a similar scheme for selecting federation members.
Smart contracts unchained can also have users be guided by fidelity bonds in order to select federation members.

Regards,
ZmnSCPxj