Sidechains seem an inevitable tool for scaling. They allow Bitcoins to be transferred from the main blockchain into external blockchains, of which there can be any number with radically different approaches. In current thinking I have encountered, sidechains are isolated from each other. To move Bitcoin between them would involve a slow transfer back to the mainchain, and then out again to a different sidechain. Could we instead create a protocol for addressable blockchains, all using a shared proof of work, which effectively acts as an Internet of Blockchains? Instead of transferring Bitcoin into individual sidechains, you move them into the master sidechain, which I'll call Angel. The Angel blockchain sits at the top of of a tree of blockchains, each of which can have radically different properties, but are all able to transfer Bitcoin and data between each other using a standardised protocol. Each blockchain has its own address, much like an IP address. The Angel blockchain acts as a registrar, a public record of every blockchain and its properties. Creating a blockchain is as simple as getting a createBlockchain transaction included in an Angel block, with details of parameters such as block creation time, block size limit, etc. A decentralised DNS of sorts. Mining in Angel uses a standardised format, creating hashes which allow all different blockchains to contribute to the same Angel proof of work. Miners must hash the address of the blockchain they are mining, and if they mine a hash of sufficient difficulty for that blockchain they are able to create a block. Blockchains can have child blockchains, so a child of Angel might have the address aa9, and a child of aa9 might have the address aa9:e4d. The lower down the tree you go, the lower the security, but the lower the transaction fees. If a miner on a lower level produces a hash of sufficient difficulty, they can use it on any parents, up to and including the Angel blockchain, and claim fees on each. Children always synchronise and follow all parents (and their reorganisations), and parents are aware of their children. This allows you to do some pretty cool things with security. If a child tries to withdraw to a parent after spending on the child (a double spend attempt) this will be visible instantly, and all child nodes will immediately be able to broadcast proof of the double spend to parent chain nodes so they do not mine on those blocks. This effectively means children can inherit a level of security from their parents without the same PoW difficulty. There are so many conflicting visions for how to scale Bitcoin. Angel allows the free market to decide which approaches are successful, and for complementary blockchains with different use cases, such as privacy, high transaction volume, and Turing completeness to more seamlessly exist alongside each other, using Bitcoin as the standard medium of exchange. I wrote this as a TLDR summary for a (still evolving) idea I had on the best approach to scale Bitcoin infinitely. I've written more of my thoughts on the idea at https://seebitcoin.com/2016/09/introducing-buzz-a-turing-complete-concept-for-scaling-bitcoin-to-infinity-and-beyond/ Does anybody think this would be a better, more efficient way of implementing sidechains? It allows infinite scaling, and standardisation allows better pooling of resources. Thanks, John [email protected]
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