Blockstream announces new "Liquid" sidechain.

Started by luckybit, October 13, 2015, 08:44:24 AM

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bytemaster

#5
October 13, 2015, 04:36:52 PM
Yes, we could do it trivially via the following process:

1. Define a multi-sig group on the bitcoin network as the highest N witnesses
2.  Transfer funds to that multi-sig address and have the witnesses issue an asset in return
3.  Have funds sent to the witnesses direct them to a bitcoin address to withdraw to.

The primary challenge is implementing the communication protocol for the witnesses to approve the deposit / withdraw.
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jakub

#4
October 13, 2015, 03:59:31 PM
For those interested in the technical aspects, here I've found a good explanation of the sidechain concept:
http://gendal.me/2014/10/26/a-simple-explanation-of-bitcoin-sidechains/

bitmeat

#3
October 13, 2015, 09:35:06 AM
Quote from: Erlich Bachman on October 13, 2015, 09:30:31 AM
correction, a much much slower wheel

With much higher access to cash.

fav

#2
October 13, 2015, 08:54:06 AM
yes, without a sidechain.

bitcoin sidechains are useless IMO
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luckybit

#1
October 13, 2015, 08:44:24 AM
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