Author: Tao Effect 2017-10-10 00:04:55
Published on: 2017-10-10T00:04:55+00:00
In this email to a list, Greg Slepak proposes a generic sharding protocol for all blockchains, including Bitcoin. Users would simply burn their coins on Chain A and create a minting transaction on Chain B. The details of ensuring that coins do not get lost need to be worked out but can be done by the folks on the list. Thin clients, nodes, and miners can easily verify that said action took place, and users' client software now also knows where to look for the other coins. This proposal is fully decentralized, and there is no need to give ownership of coins to miners to get scale. Greg acknowledges that others may have mentioned exactly or similar ideas before, and he apologizes if this has been brought up before.
Updated on: 2023-06-12T21:38:25.592969+00:00