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Bit_Happy
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Activity: 2114
Merit: 1040
A Great Time to Start Something!
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April 09, 2014, 11:31:02 PM |
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"This past week, Adam Levine interviewed the two gentlemen and learned that Hill and Back have created a company that includes several Bitcoin core developers working on a project momentarily dubbed “Blockchain 2.0” (the actual name and website will be released soon)." Your image isn't currently working. Here it is:
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jr3951
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Activity: 59
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April 10, 2014, 04:43:10 AM |
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what I want to know is how the lead singer for Maroon 5 got into bitcoin and if he plans to make it as bad as his music
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Bit_Happy
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Activity: 2114
Merit: 1040
A Great Time to Start Something!
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April 10, 2014, 04:55:06 AM |
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"So in essence, while there are multiple chains, no new bitcoins are created. Protecting the digital scarcity of the finite amount of tokens (ultimately 21 million) is a core point to this project. By linking chains they have set Bitcoin up as a “transactional currency for all the innovation and all new assets so you can potentially issue shares in a sidechain, that specializes in smart contracts shares, derivatives, user assets, ultimately backed by Bitcoin pegged to Bitcoin, explained Back."
Isn't something/someone else already doing this? (i.e. Mastercoin)
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g4c
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April 10, 2014, 05:04:06 AM |
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Interesting.
So am I right in thinking that the interface between the main blockchain and a "sidechain" in effect just does the job that Cryptsy already does:
Provide an exchange interface for a free market of altcoins, albeit in a decentralised manner.
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CORTEX7 Multi exchange Bitcoin trading client for Win, Mac, Nix, Android.
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sickpig (OP)
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Activity: 1260
Merit: 1008
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April 10, 2014, 06:03:00 AM |
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"So in essence, while there are multiple chains, no new bitcoins are created. Protecting the digital scarcity of the finite amount of tokens (ultimately 21 million) is a core point to this project. By linking chains they have set Bitcoin up as a “transactional currency for all the innovation and all new assets so you can potentially issue shares in a sidechain, that specializes in smart contracts shares, derivatives, user assets, ultimately backed by Bitcoin pegged to Bitcoin, explained Back."
Isn't something/someone else already doing this? (i.e. Mastercoin)
I haven't already understood all the details nor thought about all the implications, but Adam Back said that the current metacoins implementations are somewhat limited (e.g. in regard of smart contracts), whereas the one built on a 2way peg side chains will be based on tagging not watermarking in such a way to avoid those limitations.
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Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
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sickpig (OP)
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Activity: 1260
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April 10, 2014, 06:08:25 AM |
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Interesting.
So am I right in thinking that the interface between the main blockchain and a "sidechain" in effect just does the job that Cryptsy already does:
Provide an exchange interface for a free market of altcoins, albeit in a decentralised manner.
The main aims are preserving bitcoin digital scarcity and innovating bitcoin without risking to blew everything due to a fast pace of innovation. A decentralized "exchange" is "only" a side effect :-)
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Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
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shads
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April 10, 2014, 06:55:29 AM |
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I've been thinking about a similar concept lately as a way of handling visa scale transactions. It also relies on being a lock a coin to another merge mined chain and later unlock it with verification from the side chain.
The point being to create many transaction processing blocs. Coins are spent into a bloc then bulk transactions are processed and at some point coins are returned to bitcoin. Thus bitcoin acts more as a store of value and clearing house rather than a bulk transaction processor. The side chains might even have limited lifespans i.e. every x days the chain stops operating, everyone returns coins back to bitcoin chain then a new one is started from scratch.
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b!z
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April 10, 2014, 09:54:17 AM |
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I really like the sound of "Let a Thousand Chains Blossom"
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Come-from-Beyond
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Activity: 2142
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Newbie
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April 10, 2014, 04:17:30 PM |
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These guys r interested in their own profit. Why do u think u'll jump their train?
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sickpig (OP)
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April 10, 2014, 04:28:23 PM |
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These guys r interested in their own profit. Why do u think u'll jump their train?
"these guys" who?
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Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
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Come-from-Beyond
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April 10, 2014, 04:41:05 PM |
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"these guys" who?
The guys behind Blockchain 2.0.
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trout
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April 10, 2014, 05:44:20 PM |
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videos, reddit posts, crap-slaps ... someone pleast post a link to the paper!
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Come-from-Beyond
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Activity: 2142
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Newbie
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April 10, 2014, 06:00:14 PM |
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An unknown guy with a funny name Satoshi Nakamoto came out of the blue and launched Bitcoin.
A famous guy with a funny name Dacoinminster spent a lot of time talking to people on conferences and tried to launch Mastercoin having 4000 BTC (failed).
An unknown guy with a funny name BCNext came out of the blue and launched Nxt having 21 BTC.
Famous guys spent a lot of time talking to people on conferences and are trying to launch Ethereum having millions USD (in progress).
Famous guys will be spending a lot of time talking to people on conferences and will try to launch Blockchain 2.0 having millions USD (in progress).
Am I the only one who sees a clear pattern here?
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vnvizow
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April 10, 2014, 06:09:30 PM |
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An unknown guy with a funny name Satoshi Nakamoto came out of the blue and launched Bitcoin.
A famous guy with a funny name Dacoinminster spent a lot of time talking to people on conferences and tried to launch Mastercoin having 4000 BTC (failed).
An unknown guy with a funny name BCNext came out of the blue and launched Nxt having 21 BTC.
Famous guys spent a lot of time talking to people on conferences and are trying to launch Ethereum having millions USD (in progress).
Famous guys will be spending a lot of time talking to people on conferences and will try to launch Blockchain 2.0 having millions USD (in progress).
Am I the only one who sees a clear pattern here?
Nope but aye! Random color patterns that tickles my OCD
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Come-from-Beyond
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April 10, 2014, 06:16:09 PM |
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Nope but aye! Random color patterns that tickles my OCD
CTRL+A
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Mashuri
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April 10, 2014, 06:16:58 PM |
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An unknown guy with a funny name Satoshi Nakamoto came out of the blue and launched Bitcoin.
A famous guy with a funny name Dacoinminster spent a lot of time talking to people on conferences and tried to launch Mastercoin having 4000 BTC (failed).
An unknown guy with a funny name BCNext came out of the blue and launched Nxt having 21 BTC.
Famous guys spent a lot of time talking to people on conferences and are trying to launch Ethereum having millions USD (in progress).
Famous guys will be spending a lot of time talking to people on conferences and will try to launch Blockchain 2.0 having millions USD (in progress).
Am I the only one who sees a clear pattern here?
I see a competition to make Bitcoin 2.0. My money is on the team with the most credibility: Bitcoin 1.0 core devs and the creator of Hashcash (also one of the original cypherpunks) and the best, most sensible idea (Blockchain 2.0)
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