Author Topic: A blockchain inside a blockchain?  (Read 1286 times)

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Offline Prophet

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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.

Offline Chronos

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?

Offline JonnyB

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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.
I run the @bitshares twitter handle
twitter.com/bitshares