Author: Peter Vessenes 2013-07-13 18:32:39
Published on: 2013-07-13T18:32:39+00:00
Alt-currencies that do not peg to Bitcoin face the issue of low market liquidity, which is already a problem for Bitcoin. The proposal to have different currencies for Bitcoin and Zerocoin has been met with controversy. There are concerns over scalability, validation, and the need for cross-chain trading protocols. Peter Todd suggests making each transaction into its own block and having each refer to the previous one in history. Verification does not need to be done by every node on every transaction. Sacrificing Zerocoins, rather than using proof-of-stake, is suggested as a consensus algorithm. Turning Zerocoins back into Bitcoins is just supply and demand. Other people have written about cross-chain trading protocols, and they may be easier to implement if one chain has full visibility into what's happening on the other. Finally, there's nothing wrong with running multiple parallel Zerocoin blockchains.
Updated on: 2023-06-06T19:50:50.758341+00:00