Published on: 2016-10-12T01:28:46+00:00
Sidechains are a tool for scaling Bitcoin by transferring them from the main blockchain to external blockchains. However, the current approach keeps sidechains isolated from each other, requiring a slow transfer back to the mainchain. To address this, a proposed protocol for addressable blockchains aims to create an Internet of Blockchains by using a shared proof of work. This protocol would allow Bitcoins to be moved into a master sidechain called Angel, which sits at the top of a tree of blockchains.In this system, each blockchain has its own unique address similar to an IP address, and the Angel blockchain acts as a registrar, keeping a public record of every blockchain and its properties. Creating a new blockchain is as simple as including a createBlockchain transaction in an Angel block with specified parameters like block creation time and size limit.Mining in the Angel blockchain follows a standardized format, creating hashes that enable different blockchains to contribute to the same proof of work. Child blockchains inherit security from their parents without the same level of PoW difficulty. This means that if a child attempts a double spend by withdrawing to a parent after spending on the child, it will be instantly visible. Child nodes can then broadcast proof of the double spend to parent chain nodes, preventing them from mining on those blocks.The Angel blockchain allows for a free market approach, allowing different approaches and use cases such as privacy, high transaction volume, and Turing completeness to coexist seamlessly alongside each other. Bitcoin serves as the standard medium of exchange for these complementary blockchains.Another concept to achieve infinite scaling is compressing validation data maximally to enable Turing completeness for multiple interacting chains or "namespaces". This rolling blockchain uses Zero-knowledge proofs for secure pruning and preserves the entire history. Each chain is registered under a unique name and defines its own external API and rules for updating its data.Programs (transactions) can be transformed into a "diff" on the blockchain state with accompanying Zero-knowledge proofs. These proofs can be chained, allowing groups of users on a chain to create a proof for their changes, which is then compressed and sent to miners who generate a proof for the root. However, interaction between many chains can make validation inefficient, requiring more client interaction.The ideal scenario would involve creating a Lightning Network equivalent for processing programs in near real-time and quickly settling on changes to commit to the root. Programs would need to be designed for networking so that servers can negotiate their APIs across all chains until they have a complete set of changes without conflicts to commit.Overall, the proposed protocol for addressable blockchains and the Angel blockchain aim to enable scaling Bitcoin infinitely by allowing different blockchains to coexist and interact seamlessly, while preserving security and decentralization.
Updated on: 2023-08-01T19:09:02.859509+00:00