Author Topic: Graphene documentation - initial blockchain snapshot & private key import?  (Read 4894 times)

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Offline R

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Offline Stan

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Wrote up a steemit post on the idea discussed today: https://steemit.com/bitshares/@cm-steem/migrating-bitcoin-onto-the-bts-dex-via-uia-snapshot-sharedrop

Nice Trial Balloon.

I need facts about the other chains to get an article into syndication  tomorrow.  Please help with the research on the other altBTCs.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.


Offline fluxer555

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Ok, so with regards to BTCI (Bitcoin Instant), a realistic goal is to take a snapshot of the Bitcoin blockchain prior to the 1st Aug deadline (where it may fork into 2 or 3+ blockchains). We have performed snapshots against bitcoin and protoshares in the past for Bitshares, so this isn't an insane task to complete in 10 days.

It was proposed that the genesis.json file could be modified to include the sharedrop of the 'BTCI/BTC4' UIA against external BTC holders (mandatory witness upgrade).

Yes. Just so you know, I'm Julien Heller on Telegram ;)

Offline R

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Ok, so with regards to BTCI (Bitcoin Instant), a realistic goal is to take a snapshot of the Bitcoin blockchain prior to the 1st Aug deadline (where it may fork into 2 or 3+ blockchains). We have performed snapshots against bitcoin and protoshares in the past for Bitshares, so this isn't an insane task to complete in 10 days.

It was proposed that the genesis.json file could be modified to include the sharedrop of the 'BTCI/BTC4' UIA against external BTC holders (mandatory witness upgrade).



Offline R

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For BTS-1.0 BM had put up a bounty for creating a snapshot from the PTS chain.
IIRC there were at least two winning submissions, one of which was mine. I don't think my implementation from back then would scale to today's BTC chain, though.
I'm sure there are better ways today. Basically, you need a snapshot of BTC's UTXO database at a specific point in time.
The only research have found thus far is this paper: https://arxiv.org/abs/1501.01039

Do you have a link to these previous discussions of a bounty and the submissions? Would be an interesting read, thanks.

Whilst the 1st Aug deadline is quite a close deadline, we could perform the snapshot by this period (performed previously) then figure out the UIA distribution mechanism later on (many sharedrops perform their distribution months after the snapshot has taken place).
« Last Edit: July 19, 2017, 03:50:41 pm by Customminer »

Offline Stan

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And a "snapshot" is nothing but a block number.
All its data is on the blockchain up to that point.
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline pc

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For BTS-1.0 BM had put up a bounty for creating a snapshot from the PTS chain.
IIRC there were at least two winning submissions, one of which was mine. I don't think my implementation from back then would scale to today's BTC chain, though.
I'm sure there are better ways today. Basically, you need a snapshot of BTC's UTXO database at a specific point in time.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline R

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My original post was in reference to a new graphene chain's initial base asset distribution where as Stan's idea is to take a snapshot of an external blockchain as the basis of an UIA's distribution within the BTS network. Both ideas have a common issue that the documentation regarding external blockchain snapshot & distribution mechanisms are lacking, this can however change as we have a functioning worker proposal mechanism with a large reserve fund pool & offers of bounties being placed on Stan's idea.

Would anyone be up for the task? Or do you have input on the ideas in general?

Offline R

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Had a very relevant discussion in the Bitshares Telegram group chat today:

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Stan:
All hands on deck.  There are now three forks to bitcoin.  Why not have four?   Lets sharedrop a bitcoin UIA on the DEX.  Who can write the code to hand them out to all BTC addresses on August 1.
I might do a bounty to someone who can credibly make it happen. (I might pay the cost of doing it, if it's feasible in the time we have.)
The problem is generating a bitshares account for every bitcoin account.
People would have to create an account and prove they had  bitcoin on Aug 1.
So it might work like claiming angel shares.
Well, you are likely to get matching shares in every chain for every BTC you hold on that date.
Then they will diverge in value.
Bitcoin is replacing itself with several clones.
Altcoins in every sense.

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Myself:
What about an intermediary graphene chain for performing the snapshot/sharedrop (inc free account registration) then import the keys to bitshares through some kind of one-way sidechain?

Did the initial distribution of BTS (from protoshares) require the distributor to create accounts in advance?

Quote
Stan:
No.  Just import your BTC keys into any account you like.

Quote
Myself:
In which case, they wouldn't need a bitshares account prior to the snapshot, they could just import their BTC private keys at their discretion later on

Quote
Stan:
Ok, so we can declare the snapshot date and promote it immediately - the code to import your bitcoin wallet and claim your shares can be developed in parallel and released when ready.

Relevant links:
https://steemit.com/bitcoin/@belerophon/the-ante-has-been-raised-bitcoin-cash-announces-aug-1-hard-fork
https://www.cryptocoinsnews.com/viabtc-will-list-big-blockers-bitcoinabc-bitcoin-is-spliting/

Offline R

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Hey,

Is there any documentation on how to take a snapshot of a bitcoin based blockchain as the basis for an new graphene blockchain's initial supply sharedrop?

It could help altcoins migrate to graphene in the future..

Best regards,
CM.