Bitshares can handle a theorectical 100k transactions per second.
Bitcoin has approx 5 tx per second resulting in 1 mb added to the btc blockchain every 10 mins (per block)
Bitshares currently have witnesses who feed in external price data from the real world such as the the BTC:USD price and the GOLD:USD price.
If we got witnesses to feed in every new bitcoin tx and block on into the bitshares blockchain what advantages would this give us?
If a full trustworthy copy of the bitcoin blockchain was being fed into the bitshares blockchain in realtime what doors would this open for innovation?
yes it would bloat our blockchain a lot but could any advantages outweigh the disadvantages?
Isn't one of the biggest barriers to sidechains that different chains do not know each others states?
This is just a thought i had and thought it was worth mentioning in case someone else can think of why it might be useful.
Interesting thought!
But I wonder this: couldn't the witnesses just run a bitcoin node instead? Is there a functional difference between watching the bitcoin chain, and copying it into the Bitshares chain to watch it there instead?
If the bitcoin blockchain were represented inside of another blockchain, then that second chain could operate on BTC natively. Dual native tokens would open up a lot of interesting doors IMO.