BobbyBuckle on Nostr: torkel Noen kommentarer? For teknisk for meg😁 ...

torkel (npub1wu3…n0pg) Noen kommentarer? For teknisk for meg😁

quoting note1rwq…mzzp

A secure & scalable solution for handling private keys, facilitating Layer 2 scaling, & ensuring the reliability of cryptocurrency transactions during geopolitical conflicts can be achieved through a 'well-designed sidechain system' that adheres to the principles laid out by Satoshi Nakamoto…

If a sidechain is designed with strong cryptographic protocols & is permissionless, individuals can store their private keys securely on this sidechain. The passphrase could be recorded separately, adding an 'extra layer of security'.

A 'sidechain' system with Merkle Anchored Pegging capabilities can complement Layer 2 Scaling & ensure 'robust scalability'. (By allowing users to offload non-essential data or transactions onto sidechains while still anchoring crucial information to the main Bitcoin blockchain using Merkle Anchored Pegging. This offloads the main chain, reducing congestion & transaction fees).

A sidechain can issue synthetic BTC tokens, ensuring a 1:1 backing without the need for gatekeepers. The trust is maintained through cryptographic mechanisms, making it permissionless, trustless & immutable, aligning with the core principles of Bitcoin.. note1xyn…dfgj