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To: Matt Bell <mappum@gmail.com>,
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Subject: Re: [bitcoin-dev] Proof-of-Stake Bitcoin Sidechains
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Good morning Matt,
It seems to me much more interesting if the stakes used to weigh voting pow=
er are UTXOs on the Bitcoin blockchain.
This idea is what I call "mainstake"; rather than a blockchain having its o=
wn token that is self-attesting (which is insecure).
It seems to me, naively, that the same script you propose here can be used =
for mainstake.
For instance, the sidechain network might accept potential stakers on the m=
ainchain, if the staker proves the existence of a mainchain transaction who=
se output is for example:
<sidechain identifier> OP_DROP
"1 year" OP_CHECKSEQUENCEVERIFY OP_DROP
<pubkey> OP_CHECKSIG
The sidechain network could accept this and use the value of the output as =
the weight of the vote of that stake.
Regards,
ZmnSCPxj
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On Saturday, January 19, 2019 6:59 AM, Matt Bell via bitcoin-dev <bitcoin-d=
ev@lists.linuxfoundation.org> wrote:
> I have been working on a design for Bitcoin sidechains using the Tendermi=
nt BFT consensus protocol, which is commonly used to build proof-of-stake n=
etworks (Cosmos is the notable one).
>
> The design ends up being very similar to Blockstream's Liquid sidechain, =
since Tendermint consensus is not far off from Liquid's "strong federation"=
consensus.
>
> Any feedback about improvements or critical flaws would be greatly apprec=
iated. The design document is here: https://github.com/mappum/bitcoin-peg/b=
lob/master/bitcoinPeg.md (that repo also contains a simplified implementati=
on of this sidechain design).
>
> Thanks for your feedback,
> Matt Bell
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