Author: Joachim Strömbergson 2020-01-14 15:06:32
Published on: 2020-01-14T15:06:32+00:00
In an email exchange with Robin Linus, Joachim Strömbergson expressed his reservations about Linus's proposal for a Bitcoin sidechain. Strömbergson argued that the proposal would not extend Bitcoin's economy since it introduces a new token for each sidechain. He also claimed that the security of the proposed system was weak because attackers could easily halt the operation of a sidechain with a small investment. Linus responded by explaining that a bitcoin-backed proof-of-stake (PoS) would guarantee double-spending is impossible and that stakers having to stake per chain would enforce stronger security. He also argued that using PoW blockchains other than Bitcoin is wasteful and that a bitcoin-based PoS would be a better solution for scaling Bitcoin. However, Strömbergson disagreed with Linus's argument and stated that his proposal explored only a single specific PoS sidechain and that no one had yet proposed a viable solution other than Federation based sidechains.
Updated on: 2023-06-13T23:13:33.378064+00:00