Hi everyone,
I am hoping to get a critique on a proposal of how to
construct childchains "on-top" of Bitcoin without requiring any changes to
Bitcoin itself nor requiring any user or miner to be aware of them.
The childchain is Bitcoin-aware and simulates the properties of Proof of
Work by requir
Proof of stake is permissioned by coins, an internal, permissioned, and
already owned resource.
You cannot gain tokens without someone choosing to give up those coins - a
form of permission. Permission can also be thought of as an infinite
barrier to entry.
PoW forces giving up control through bo
Barrier to entry in PoW is matter for hardware and energy is permissionless
and exist all over the universe, permissionless cost which exists for
everyone no matter who because it's unforgeable.
Barrier to entry in PoS is being given permission by the previous owner of
a token for you to have it v
