Topic: When are Sidechains going Live? And the Fork ... ? - page 2. (Read 3180 times)
I think the world is not ready for sidechains yet, most people still didn't even understand bitcoin itself. No fork is currently proposed because there's a lot to do making bitcoin user-friendly and more used.
No fork is currently proposed.
But I assume this is subject to change if some "mayor" breakthroughs are to happen? Do you happen to have more info on where the most active sidechain development is happening? For myself this is quite important, as we as a company need to follow the Bitcoin core dev and related possible future core dev closely, in order to prepare the third party services on top of things.
No fork is currently proposed.
Quote
Frustrating having a decentralized system when there's nobody managing timelines, milestones, and delivery dates.....
Plenty of people are. but you choose to ignore and insult the people working on the project, for which you don't pay... don't expect them to go out of their way to draw your attention to it. 
I dont see sidechains working out. Its one of those projects which look exciting but have too many issues to work out to be worthwhile. There is also not enough incentive for devs to spend time on it.
Have you ever worked for a living? Isn't it incentive enough to do the work you're paid to do, or are you a perennial slacker who always finds plenty of time to fuck the dog?
I dont see sidechains working out. Its one of those projects which look exciting but have too many issues to work out to be worthwhile. There is also not enough incentive for devs to spend time on it.
That's why we started a company, so we can work full time on Bitcoin. 
I dont see sidechains working out. Its one of those projects which look exciting but have too many issues to work out to be worthwhile. There is also not enough incentive for devs to spend time on it.
I see.
This is what was mentioned as an ad hoc side chain? It would work in a community where people know each other. It would be too easy to abuse by holding keys for ransom. OTOH you can mitigate the risk by weighting votes by size and reputation of the functionaries. You would pretty much have to use them on a planned timeline to on/off ramp the bitcoins. It probably wouldn't be economical to have it ongoing. Still it seems like an interesting experiment... for testnet.
Quote
Federated peg: Uses a set of trusted functionaries who all* must sign off on valid transactions between blockchains.
* You can have fewer than all functionaries necessary to sign off, in case of lost keys or some going rogue.
* You can have fewer than all functionaries necessary to sign off, in case of lost keys or some going rogue.
This is what was mentioned as an ad hoc side chain? It would work in a community where people know each other. It would be too easy to abuse by holding keys for ransom. OTOH you can mitigate the risk by weighting votes by size and reputation of the functionaries. You would pretty much have to use them on a planned timeline to on/off ramp the bitcoins. It probably wouldn't be economical to have it ongoing. Still it seems like an interesting experiment... for testnet.
Sidechains use a concept called a "peg" which is for moving the same token between different independent blockchains.
There are (at least?) 3 different ways to implement a peg:
SNARK pegs and SPV pegs require a "softfork" (miner-only upgrade).
Federated pegs can be done with up to 15 functionaries using Bitcoin's multisig today.
The plan is to use SPV pegs for transfers out of the Bitcoin blockchain to a "SPV peg test sidechain", with return transactions (back to Bitcoin) using a federated peg.
Once the SPV peg test sidechain is mature/stable/well-tested to everyone's satisfaction, at that point there can be a softfork to make it the "main" blockchain (at which point the federated peg becomes unnecessary and goes away).
SNARK pegs are more complicated than SPV pegs, but can follow a similar process when the time comes.
* You can have fewer than all functionaries necessary to sign off, in case of lost keys or some going rogue.
There are (at least?) 3 different ways to implement a peg:
- SNARK peg: Uses a cryptographic proof of the other blockchain's rules being followed.
- SPV peg: Uses a "lightweight" proof that a transaction was mined, relying on trust in the miner collective for the other blockchain.
- Federated peg: Uses a set of trusted functionaries who all* must sign off on valid transactions between blockchains.
SNARK pegs and SPV pegs require a "softfork" (miner-only upgrade).
Federated pegs can be done with up to 15 functionaries using Bitcoin's multisig today.
The plan is to use SPV pegs for transfers out of the Bitcoin blockchain to a "SPV peg test sidechain", with return transactions (back to Bitcoin) using a federated peg.
Once the SPV peg test sidechain is mature/stable/well-tested to everyone's satisfaction, at that point there can be a softfork to make it the "main" blockchain (at which point the federated peg becomes unnecessary and goes away).
SNARK pegs are more complicated than SPV pegs, but can follow a similar process when the time comes.
* You can have fewer than all functionaries necessary to sign off, in case of lost keys or some going rogue.
as far as i know, it is not certain yet that there will be a fork. probably there will be, but it not certain yet.
When is this happening?
Last I heard was a LTB Pocast nearly a year ago, and the white paper wasn't done yet.
Since then I've heard the white paper got released, but there are people saying it can't be done due to security risks.
And then there needs to be a Fork.
Is Gavin on board with the fork? Are all core devs on board?
Whats the date of the fork?
Frustrating having a decentralized system when there's nobody managing timelines, milestones, and delivery dates.....
-B-
Last I heard was a LTB Pocast nearly a year ago, and the white paper wasn't done yet.
Since then I've heard the white paper got released, but there are people saying it can't be done due to security risks.
And then there needs to be a Fork.
Is Gavin on board with the fork? Are all core devs on board?
Whats the date of the fork?
Frustrating having a decentralized system when there's nobody managing timelines, milestones, and delivery dates.....
-B-
Jump to: