I have a suggestion for helping supernet to really get business adaption.
I am not much into details, so excuse if it is nonsense, but as is is possible now to have that basilisk connection to bitcoin.
Can you make a connection to the bitcoin network, that makes it possible to safely transfer BTCs as a token into another newly created BTC-transfer-chain?
Of course not directly but with some kind of burning on one side and creating on the other side.
The reason is, that BTC has the problem, that it can't scale at the moment. All those segwit-btc unlimited-fork things probably don't get enough support.
If you manage to create a fast channel, where you transfer the btc (and ensure that the amount stays the same), some payment companys may support the idea.
I think for example also on a XEM chain or something, where they tested already a high transaction rate of 100k/sec...
I could make a BTC assetchain, it would have 20x the current capacity due to faster blocks and 2MB blocksize.I am not much into details, so excuse if it is nonsense, but as is is possible now to have that basilisk connection to bitcoin.
Can you make a connection to the bitcoin network, that makes it possible to safely transfer BTCs as a token into another newly created BTC-transfer-chain?
Of course not directly but with some kind of burning on one side and creating on the other side.
The reason is, that BTC has the problem, that it can't scale at the moment. All those segwit-btc unlimited-fork things probably don't get enough support.
If you manage to create a fast channel, where you transfer the btc (and ensure that the amount stays the same), some payment companys may support the idea.
I think for example also on a XEM chain or something, where they tested already a high transaction rate of 100k/sec...
The problem is there is no provision in bitcoin to unburn, so the bitcoin deposited would need to be held by trusted nodes
MGW is essentially what you talk about from 3 years ago.
If bitcoin would add an unburn code, then sure this can be done securely without any trust needed.
But bitcoin cant even do
#define MAXBLOCKSIZE
without taking years...
Ok, I thought you maybe found a solution for those things but anyway.
Trusted parties are already given with your notary notes, right? ;-)
I just think, BTC chain technology is too old and forks lead to the same problems ETH (ETC) had. That is a good reason, to not do the blocksize raise.
I guess the fud would throw the crypto sector into stone age...
Moving BTC to another chain will not affect ALL users and if it works fine, we can maybe somewhen move all and destroy the old chain completely...
BTCs biggest value is, that it was first. And the token can survive very good somewhere else.
I give another good example for the value of being first:
https://en.wikipedia.org/wiki/Penny_Black
