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Topics - kolinko

Advanced / Pegging
June 26, 2014, 07:02:41 PM
So, your current methods of pegging to bitcoin are either replacing the whole Bitcoin with TruthCoin/VoteCoin, or sidechains? I'm not trolling, I'm not making fun. I'm honestly asking.

QuoteThat was a replacement for Ethereum, not side chains!

We're getting offtopic here, but Gavin also went after side chains. Sorry for nitpicking and derailing the thread :) Here's a quote from his Bit-thereum article:

QuoteBut... but... doesn't it have to be more complicated than that? New Bitcoin Script opcodes? Contract code in the blockchain? A merged-mined chain or new colored coin or something?

I don't think so. Bitcoin already provides a global currency and distributed ledger-- there is no need to re-invent those wheels. Combining real-world information with Bitcoin is where things start to get really interesting.

(merged-mined chain, and new script opcodes = technologies required to establish a sidechain)