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September 06, 2013, 06:10:40 PM |
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A parallel chain can be merge-mined with Bitcoin, so that Bitcoin miners can secure the parallel chain at no extra cost to themselves. There can also be input and output address in Bitcoin that allow one to convert BTC to the alternate coins, and convert the alternate coins back into BTC.
The problem is that Bitcoin would need to be changed so that standard clients store two blockchains, and keep track of transactions in the parallel chain, or else they won't know which altcoin -> BTC conversion transactions are valid.
This might not be a huge deal, as all that's really being added from a bloat perspective is the block headers of the additional blocks (10X more with 1 minute blocks), and this increases linearly with time, while consumer hard disk space will likely continue increasing exponentially.
An idea like this can also be done with one-way conversion, in which case no changes would need to be made to Bitcoin.
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