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Author Topic: Coins: A trustless sidechain protocol  (Read 47 times)
RobinLinus
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January 11, 2020, 11:12:05 PM
Last edit: January 13, 2020, 12:16:28 AM by RobinLinus
Merited by LoyceV (8), o_e_l_e_o (1)
 #1

Hi all,

I've been working on a sidechain protocol with no trusted third party. You can find the whitepaper here.

Abstract. Coins is a Bitcoin extension designed for payments at scale.  We propose an efficient solution to the double-spending problem using a bitcoin-backed proof-of-stake.  Validators vote on sidechain blocks with one-time  signatures,  forming  a record that cannot be changed without destroying their collateral.  Every user can become a validator by locking bitcoins.  One-time signatures guarantee that validators lose their  stake  for  publishing  conflicting  histories.   Checkpoints  can  be  additionally secured with a bitcoin-backed proof-of-burn.  Assuming a rational majority of validators, the sidechain provides safety and liveness.  The sidechain’s footprint within bitcoin’s blockchain is minimal.  Spawning multiple, independent instances scales horizontally.

Your Feedback is highly appreciated!

Thanks!
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January 11, 2020, 11:30:56 PM
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Although the technical details go way over my head, I'm very interested to see responses from people who onderstand the details beter than me.

LoyceV: merit this post!

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