Side-chains - brainstorming
Posted: Fri Apr 11, 2014 1:21 pm
1.
Reading Adam Back's proposal about Bitcoin side-chains.
http://www.cryptocoinsnews.com/news/ada ... 2014/04/10
http://www.coindesk.com/bitcoin-core-de ... de-chains/
I was also thinking on something similar for Namecoin longer time ago but i was not sure if it is a good idea.
Now I am thinking again about it.
What do you think about Namecoin side-chains ?
For ex.
d/ could use his own blockchain and id/ also
The remaining namespaces and Namecoin transactions would remain n the old blockchain.
Of course these blockchains should all use Namecoins as payment so they should interact in a smart way.
Advantage:
- the blockchain for domain browsing could be much smaller as only the d/ specific blockchain is required
- the blockchain for Namecoin ID identification(website logging, Bitmessage connections, Torchat connections, ..) could be much smaller as only the id/ specific blockchain is required so they could be downloaded specifically without requiring namecoind running
- eventually the remaining blockchain could be also smaller - better suited for payments
Disadvantage
(this problems are discussed by the Bitcoin side-chain proposal also):
- security risks because of the hardfork
- eventually additional security risks in connection with the separated chains
- eventually problems motivating miners with the new systems
- eventually problems by merged mining(however this could appear also if Bitcoin will switch to side-chains and Namecoin not)
Reading Adam Back's proposal about Bitcoin side-chains.
http://www.cryptocoinsnews.com/news/ada ... 2014/04/10
http://www.coindesk.com/bitcoin-core-de ... de-chains/
I was also thinking on something similar for Namecoin longer time ago but i was not sure if it is a good idea.
Now I am thinking again about it.
What do you think about Namecoin side-chains ?
For ex.
d/ could use his own blockchain and id/ also
The remaining namespaces and Namecoin transactions would remain n the old blockchain.
Of course these blockchains should all use Namecoins as payment so they should interact in a smart way.
Advantage:
- the blockchain for domain browsing could be much smaller as only the d/ specific blockchain is required
- the blockchain for Namecoin ID identification(website logging, Bitmessage connections, Torchat connections, ..) could be much smaller as only the id/ specific blockchain is required so they could be downloaded specifically without requiring namecoind running
- eventually the remaining blockchain could be also smaller - better suited for payments
Disadvantage
(this problems are discussed by the Bitcoin side-chain proposal also):
- security risks because of the hardfork
- eventually additional security risks in connection with the separated chains
- eventually problems motivating miners with the new systems
- eventually problems by merged mining(however this could appear also if Bitcoin will switch to side-chains and Namecoin not)