Isn't the point of SCs to allow Bitcoin to scale by mitigating its transactions through other chains?
if that is the point, it won't work.
Sidechains only have SPV security. If the entire main chain network does not validate a particular sidechain, then the resources required to produce fraudulent SPV proofs that redeem sidechains units for locked bitcoin are fewer.
If every node in the main chain network needs to watch every sidechain, there is no scalability improvement.
If every node on the main chain network does not watch every sidechain, then the security of the sidechains is low.
The onus of SPV security is on the person risking their bitcoins. Bitcoin users don't care if the side chains succeed or fail.
i very much do care b/c for each failure and loss of scBTC, an owner has to take a loss. the bigger these losses multiplied by thousands of SC's, the greater the set back in terms of public perception. we don't need that.
Bitcoin users don't care if those bitcoins go back to transacting or are lost forever. If the sidechain security is poor then the market will choose a better side chain. Bitcon doesn't need to see what is going on in the side chain, it only needs to see if it is broadcasting bitcoin transactions, which it should only do rarely.
it's your responsibility to secure your own house. that's why you don't leave your front door wide open all the time.
I think somehow you believe that side chains are making actual bitcoin transactions, when they are actually just artificially Bitcoin flavored altcoins with a magical bridge to Bitcoin.
huh? there are real tx's with fees going on on SC's. my fear is that they stay there when the fees generated from those tx's are badly needed back on MC (in the situation where there is no MM).
