Hi all,
We at Mastercoin have
a task that requires someone familiar with the details of Mining, specifically merged mining.
How much would be a reasonable bounty in your opinion?
https://trello.com/c/2PiTRxy7/22-document-a-rough-plan-to-migrating-off-the-bitcoin-blockchain-into-a-new-altchainDocument a rough plan to migrating off the Bitcoin blockchain into a new altchainA lot of people don't know this is possible, but it is. Mastercoin isn't a specific technology, it's a project that can switch backends/infrasturcture if needed.
I think we need to brainstorm about this a bit, and see whether this can help us combat some potential future scalability issues / changes in the Bitcoin protocol. This ticket is for creating a wiki article or whitepaper documenting this scenario.
We decide on a certain block height in the future. The decision is done via decentralized voting of course.
Then we start a new dedicated alt chain which is entirely premined by holders of Mastercoin. Tokens on the new chain are initially owned by private keys of MSC holders.