> TLDR someone needs to find a kickass off chain (L2 if you like) protocol that could 50x the usage of bitcoin using covenants, *without centralization *, then needs to write code and deploy it on say Liquid and signet.
A Federated L2 could be interesting where the federation is not limited to Liquid where the federation is limited to regulated parties.
Instead, what if we have a federation managed by a threshold signature that could grow to 50-100 parties to help execute state changes for coinpool.
Such an federation is possible using a Schnorr Threshold Signature. I am building one for a mining pool, where the federation membership is backed by PoW. How such a federation can minimise trust without PoW is a question I am thinking about these days.
Meanwhile - unashamed link share to my repo: https://github.com/pool2win/frost-federation
jungly
npub1x0…09t7k
2024-11-25 13:59:01
in reply to nevent1q…vx25
Author Public Key
npub1x0ywjcwk9zjffndn0wt485xx68h8vykdqg9yztya7lec5an0g4lqg09t7kPublished at
2024-11-25 13:59:01Event JSON
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"content": "\u003e TLDR someone needs to find a kickass off chain (L2 if you like) protocol that could 50x the usage of bitcoin using covenants, *without centralization *, then needs to write code and deploy it on say Liquid and signet.\n\nA Federated L2 could be interesting where the federation is not limited to Liquid where the federation is limited to regulated parties.\n\nInstead, what if we have a federation managed by a threshold signature that could grow to 50-100 parties to help execute state changes for coinpool.\n\nSuch an federation is possible using a Schnorr Threshold Signature. I am building one for a mining pool, where the federation membership is backed by PoW. How such a federation can minimise trust without PoW is a question I am thinking about these days.\n\nMeanwhile - unashamed link share to my repo: https://github.com/pool2win/frost-federation",
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}