Author: ZmnSCPxj 2019-09-18 05:28:38
Published on: 2019-09-18T05:28:38+00:00
ZmnSCPxj proposed a future where most people do not typically have single-signer ownership of coins onchain, but are instead share-owners of coins, with single-signer ownership occurring onchain only in the case of dispute or for long-term cold storage. ZmnSCPxj discussed different aspects of multi-party Decker-Russell-Osuntokun channels that have analogs to a signet blockchain that use an n-of-n federation of signers. However, some signet concepts with multi-party channel analogs do not have direct analogs like change-in-membership. ZmnSCPxj also talked about different concepts like cooperative close, membership change (ZmnSCPxj ritual), balance change, uncooperative close, uncooperative membership change, mining, mining reward, difficulty adjustment, transaction fees, privacy, and liveness. Different suggestions were made to optimize the various concepts discussed, and the issues surrounding them were elaborated. Finally, ZmnSCPxj mentioned the possibility of creating a new mechanism-within-mechanism layer if a signer knows they will be offline.
Updated on: 2023-06-13T21:14:22.133589+00:00