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To: ZmnSCPxj <ZmnSCPxj@protonmail.com>
From: Robin Linus <robinlinus@protonmail.com>
Reply-To: Robin Linus <robinlinus@protonmail.com>
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X-Mailman-Approved-At: Mon, 20 Jan 2020 14:39:33 +0000
Cc: Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Coins: A trustless sidechain protocol
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Goog morning ZmnSCPxj,
> Unless of course you propose to have the sidechain issue its own coin=
, in which case it is not much more than an altcoin.
Okay, call it an altcoin consensus mechanism. Because sidechains do have to=
issue their own coins.
Still, I am not proposing independent altcoins. Bitcoin is the only unit of=
account. I am proposing bitcoin derivatives only as means of bitcoin trans=
fer. Think of gold vs cash.
> Still, the real-world value of the total block rewards for that altco=
in will have to match the real-world value of the total block rewards of Bi=
tcoin in order to have security even approaching Bitcoin.
My point is that, assuming equal rewards, PoW and bitcoin-backed PoS do off=
er the same level of security.
So in theory, you are right. In practice, a sidechain does not need to be a=
s secure as bitcoin. It requires only a sufficient user base.
Thanks again for your detailed answer,
-Robin
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