Author: ZmnSCPxj 2018-01-30 05:32:58
Published on: 2018-01-30T05:32:58+00:00
The concept of fungibility, where a paper money with "10 Dollar" on it is the same as 10 coins each with "1 Dollar" on it, is what ensures that they are indistinguishable from human perception. This principle applies to cryptocurrencies such as bitcoin as well, where the use of sidechains ensures that a sidechain coin is exchangeable for a mainchain coin. Mechanisms such as SPV proof-of-work and drivechain proof-of-voting are used to ensure this exchangeability. However, a mere split is not enough and proposals need to differentiate themselves from previous ones like 2X and BCash. The use of a single valid address for both chains means that there is no difference between the number of merchants and exchange costs would be trivial.
Updated on: 2023-06-13T00:04:39.864194+00:00