ripple based network with its token backed by bitcoin

[emadmn700]

Hi...
I didn't know anyone whom i could talk about the idea so i came here

imagine we change the code of XRP Ledger :

we omit IOUs as we don't need them
also we omit the protocols about distributing new tokens, we won't use them
we also won't need any XRP gateway or those stuff
and we set the network to its highest TPS


just that, we've got a scalable cryptocurrency, when you start that, all of its total token supply will be created for your address(you the owner)
so why the hell ?  because you're gonna distribute the token backed by BTC

a network based on consensus algorithm is way fast and nodes don't save the blockchain history , just the keep the latest state...

summery : why not starting a project like ripple or stellar which the token is issued backed by bitcoin ?

i know it's centralized but surely it's a better way than wrapped BTC or bitcoin cash to scalable bitcoin...

wanna know your ideas... will you use this?

[HeRetiK]

Why though?

Just use Lightning Network. You get pretty much the same properties but without centralization and bitcoins instead of mere proxy tokens.

[Febo]

i know it's centralized but surely it's a better way than wrapped BTC

If it is centralised cant be better than Bitcoin, because it have at last one point of failure. Lightning and Liquid are something what you have in mind. People will decide if they want to trust 3rd party and give them their bitcoin for these Lighting and Liquid Bitcoin tokens.

[hulla]

Every positive idea is good but you need to understand that the fast TPS (scalability) is not the only characteristic crypto need to flourish, if was bitcoin wont have be the number one crypto and if the coin will be total centralized just like XRP, Stellar etc it won't gain much attention even if it's backed by Bitcoin.