"Take the idea of proof-of-stake as a base layer consensus mechanism, and throw the idea away for right now. That's not what this is, and the problems that need to be solved to enable proof-of-stake as a second layer system instead of a stand alone base layer are not the same. #Proof-of-stake is essentially a #federation, but where anyone can join and can't be stopped from doing so, and with a mechanism to punish members for acting malicious. As a base layer that creates all kinds of existential issues, like the objectivity of a slashing penalty. Proof-of-stake as a second layer does not have that problem when the bonds for slashing are on the main chain, governed by proof-of-work."
We have a new addition to the sidechain discussion with the announcement of "Spiderchains," a novel approach to the peg in/out model. Enalbing a proof of stake system that uses the underlying Bitcoin chain as the ultimate source of time and finality. The interesting thing? Not a single change to Bitcoin is necessary to make it work, so one way or the other, it's going to happen. Find out more...
Check out the original article at: Spiderchains, a Proof of Stake L2
Lopp's Spiderchain Article: An Introduction to Spiderchain
Bitcoin Audible: Read 562 - Only the Strong Survive - Part 1 [Allen Farrington & Big Al]
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The principle that one should help men in an emergency cannot be extended to regard all human suffering as an emergency and to turn the misfortune of some into a first mortgage on the lives of others.”
~ Ayn Rand
Today we are going to turn some concepts on their head. I hope that this...
"Many people insist that governments aren't involved in censorship, but they are. And now, a whistleblower has come forward with an explosive new trove of documents, rivaling or exceeding the Twitter Files and Facebook Files in scale and importance."
~ Michael Shellenberger
From time we time...