Author Topic: Liens for sidechains  (Read 1726 times)

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Offline Prophet

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I will figure it out if it's possible. It seems like there must be some way to have the keys encrypted and stored on the chain without being manually handled. Like by using a conditional contract or something.

The dex looks and works great, if it could come to host a  BTC/tether market, the protocol will make money.

Maybe this protocol could be made to implement the bitcoin protocol in whole or in part. Like say shares owns 10 addresses, and scans each new block for transactions on them, then clears all outgoing transactions with a single transfer at midnight daily, bank style.

Offline JonnyB

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I'm attempting to create a sidechain deposit solution where users hand over the keys to btc addresses, the address is frozen and becomes a security interest for an asset backed by the frozen account.  Is anyone here working along similar lines?

Alot of people are trying to create a pegged bitcoin token on another chain aka sidechains.

The idea of freezing bitcoins and creating a token on another chain that can unlock the frozen bitcoins would be great.
The big problem nobody can solve is where to store the private key for the frozen bitcoin.
You can't keep it on a blockchain because blockchains are public.
You could encrypt it but that would just create another private key which has the same problem.

If you can solve this issue you will be the inventor of sidechains.
I run the @bitshares twitter handle
twitter.com/bitshares

Offline xeroc

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"The address is frozen" ... how do you do that on bitcoin?!?

Offline Prophet

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I'm attempting to create a sidechain deposit solution where users hand over the keys to btc addresses, the address is frozen and becomes a security interest for an asset backed by the frozen account.  Is anyone here working along similar lines?