Author: Paul Sztorc 2017-10-10 11:20:36
Published on: 2017-10-10T11:20:36+00:00
Greg Slepak proposed a generic sharding protocol for all blockchains, including Bitcoin, in a mailing list. Users can simply say "My coins on Chain A are going to be sent to Chain B" and then burn the coins on Chain A and create a minting transaction on Chain B. Thin clients, nodes, and miners can easily verify that the action took place, making this fully decentralized and without need to give ownership of coins to miners to achieve scale. The idea is similar in spirit to Interledger. Paul Sztorc argued that it is only a one-way peg, not a two-way. Tao Effect clarified that there is nothing preventing transfers back to the main chain, which work in the exact same manner.
Updated on: 2023-06-12T21:37:37.088959+00:00