Author: ZmnSCPxj 2019-01-19 01:42:47
Published on: 2019-01-19T01:42:47+00:00
In an email sent to Matt Bell via Bitcoin-dev, ZmnSCPxj proposed an idea called "mainstake," which involves using UTXOs on the Bitcoin blockchain as stakes for voting power. This approach is seen as more secure than having a blockchain with its own token that is self-attesting. The same script proposed by Bell for sidechains could be used for mainstake. As an example, the sidechain network might accept potential stakers on the mainchain if the staker proves the existence of a mainchain transaction. This output value would then be used as the weight of the vote of that stake. Bell had been working on a design for Bitcoin sidechains using the Tendermint BFT consensus protocol and welcomed feedback about improvements or critical flaws. His design ends up being very similar to Blockstream's Liquid sidechain, given that Tendermint consensus is not far off from Liquid's "strong federation" consensus. The design document can be found at https://github.com/mappum/bitcoin-peg/blob/master/bitcoinPeg.md.
Updated on: 2023-06-13T16:39:57.267602+00:00