đź“… Original date posted:2020-01-12
đź“ť Original message:Hi all,
I've been working on a sidechain protocol with no trusted third party. You can find the [whitepaper here](http://coins.github.io/coins.pdf).
Abstract. Coins is a Bitcoin extension designed for payments at scale. We propose an efficient solution to the double-spending problem using a bitcoin-backed proof-of-stake. Validators vote on sidechain blocks with one-time signatures, forming a record that cannot be changed without destroying their collateral. Every user can become a validator by locking bitcoins. One-time signatures guarantee that validators loose their stake for publishing conflicting histories. Checkpoints can be additionally secured with a bitcoin-backed proof-of-burn. Assuming a rational majority of validators, the sidechain provides safety and liveness. The sidechain’s footprint within bitcoin’s blockchain is minimal. The protocol is a generic consensus mechanism allowing for arbitrary sidechain assets. Spawning multiple, independent instances scales horizontally.
Feedback is highly appreciated!
Thank you
- Robin
PS: [Here on Github you can find further research on scalability and usability](https://github.com/coins/coins.github.io).
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Robin Linus [ARCHIVE] /
npub124…xpaq3
2023-06-07 18:22:25
in reply to nevent1q…7s46
Author Public Key
npub12478zv0dxzfgepyn9m3v8vl8sn5yy8vhxpxump6lnfw84rslr0wqwxpaq3Seen on
wss://relay.nostr.bandPublished at
2023-06-07 18:22:25Event JSON
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"content": "📅 Original date posted:2020-01-12\n📝 Original message:Hi all,\n\nI've been working on a sidechain protocol with no trusted third party. You can find the [whitepaper here](http://coins.github.io/coins.pdf).\n\nAbstract. Coins is a Bitcoin extension designed for payments at scale. We propose an efficient solution to the double-spending problem using a bitcoin-backed proof-of-stake. Validators vote on sidechain blocks with one-time signatures, forming a record that cannot be changed without destroying their collateral. Every user can become a validator by locking bitcoins. One-time signatures guarantee that validators loose their stake for publishing conflicting histories. Checkpoints can be additionally secured with a bitcoin-backed proof-of-burn. Assuming a rational majority of validators, the sidechain provides safety and liveness. The sidechain’s footprint within bitcoin’s blockchain is minimal. The protocol is a generic consensus mechanism allowing for arbitrary sidechain assets. Spawning multiple, independent instances scales horizontally.\n\nFeedback is highly appreciated!\n\nThank you\n\n- Robin\n\nPS: [Here on Github you can find further research on scalability and usability](https://github.com/coins/coins.github.io).\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20200112/10bc934c/attachment.html\u003e",
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