Author: vjudeu at gazeta.pl 2022-03-04 20:46:04
Published on: 2022-03-04T20:46:04+00:00
Testnet3 is a chain where anyone can become a miner, even with a CPU, due to the difficulty dropping to one. In contrast, signet creates challenges, like a 1-of-2 multisig, to restrict who can mine and create an "unreliably reliable" chain. However, there are discussions about why signets introduce new coins instead of forming a two-way peg-in between testnet3 and signet. Yet, the lack of coins in testnet3 is not a bug but a feature. Testnet3 has more halvings than mainnet or signets, making it useful to observe chains after many halvings. Additionally, no coins are necessary for mining since miners can create, move, and destroy zero satoshis while extending coin precision. A single coin in testnet3 can represent a thousand coins in a signet sidechain.Sidechains need testing before running on mainnet, typically done by creating a new signet with new rules. However, questions remain on why new coins created out of thin air are needed and why they are not pegged into testnet3 for as much chainwork protection. Testnet3 is good enough to represent the main chain during sidechain testing as it is permissionless and open for anyone to mine sidechain blocks. The unstable environment allows for testing stronger attacks than in a typical chain, like stealing all coins from a sidechain. To put this proposal into practice, creating one Taproot address per signet in testnet3 would suffice, allowing for moving coins to and from testnet3 every three months. Signets can be pegged in with a 1:1 ratio, and existing signets can transform into signet sidechains if the signet miners rule those chains and enforce any transition rules.
Updated on: 2023-05-22T18:01:40.407595+00:00