Published on: 2022-06-05T16:37:24+00:00
The article explores the possibility of implementing sidechains in a no-fork manner using transaction joining and homomorphic encryption. The concept involves creating a new chain with zero coins and introducing coins from other chains by signing a transaction. This method allows for the creation of a test network, but to establish independence, the movement of coins within the chain is necessary.To facilitate sidechains, transaction joining can be employed to transform a series of transactions into a single transaction. Additionally, homomorphic encryption, such as Pedersen commitments or ElGamal commitments, can be utilized to encrypt the amount. This encryption technique is similar to how MimbleWimble coins like Grin operate.To prevent the alteration of history, the hash of the chain can be incorporated into the signature within a Bitcoin transaction. This safeguard ensures that the chain's history cannot be overwritten. Furthermore, merged mining offers a potential solution for rewarding sidechain miners.In summary, by combining transaction joining, homomorphic encryption, and the use of the Bitcoin blockchain, it is feasible to introduce sidechains without requiring forks. This approach allows for the integration of new features while preserving consensus and preventing the manipulation of historical data.
Updated on: 2023-08-02T06:44:06.875698+00:00