Return-Path: Received: from whitealder.osuosl.org (smtp1.osuosl.org [140.211.166.138]) by lists.linuxfoundation.org (Postfix) with ESMTP id 395FBC077D for ; Sat, 18 Jan 2020 08:21:44 +0000 (UTC) Received: from localhost (localhost [127.0.0.1]) by whitealder.osuosl.org (Postfix) with ESMTP id 1E27C86838 for ; Sat, 18 Jan 2020 08:21:44 +0000 (UTC) X-Virus-Scanned: amavisd-new at osuosl.org Received: from whitealder.osuosl.org ([127.0.0.1]) by localhost (.osuosl.org [127.0.0.1]) (amavisd-new, port 10024) with ESMTP id TFjtDfESPIaa for ; Sat, 18 Jan 2020 08:21:41 +0000 (UTC) X-Greylist: domain auto-whitelisted by SQLgrey-1.7.6 Received: from mail-40132.protonmail.ch (mail-40132.protonmail.ch [185.70.40.132]) by whitealder.osuosl.org (Postfix) with ESMTPS id 38CA98680C for ; Sat, 18 Jan 2020 08:21:41 +0000 (UTC) Date: Sat, 18 Jan 2020 08:21:36 +0000 DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=protonmail.com; s=default; t=1579335698; bh=FS1rER9lnCMBw4p2uqiOcVg5FIb1xTnYKjDZbGGRXLw=; h=Date:To:From:Cc:Reply-To:Subject:In-Reply-To:References: Feedback-ID:From; b=aK3Xvml/oM7fKPZ7GCKttAD/xQjOylJ4ziNo1Rctzi/ZMej9zhq1A3A4I2RN4OThF R4KmhJc8KCk3CzLY9PJ1eQYHxjoPSQB/xfz4pxyqc9Qlo19PVcpiJ3VW//1OaumC7W M+YdvvZUsEi4Zwt3twwTGrdJpO1wOnLsrc0G1QBU= To: ZmnSCPxj From: Robin Linus Reply-To: Robin Linus Message-ID: In-Reply-To: References: <0RSAH-PjblJV6Q7TGosFHAEdc9QGauCQ_knCzMwcoGdW4Qt49ts-egDkIwM-X_f0RjsPMquwdnmB6spunH379ICEAJQgUH7R1SE8CuZs7pI=@protonmail.com> <6JaReZbjL3U0QrirtiCdgk107cNmQHiLbbJIDctf8uGUiqJOLvZwRLLPUQXAjzfAqRQBpaqtytcKhq1hvtSDwwaKGthwy40SWHDRnTpBkJA=@protonmail.com> <6pcznun9_VnOIV7D28YeCiWqSLtPnN7syJvgGVp_VIo_DAZyp2mDYZQxg6IT5dJagroU-TKgUUjLrJm12TlbhLCzwjftY6_OhIB3ej6o44E=@protonmail.com> Feedback-ID: 6FfHo99INKExF0tkDkemTyDa-LNBAaNSuYGo9F4rOzppmymRaL_liHzoQTtSnq1Ib2NLN4047Io_xKQzk5eD1w==:Ext:ProtonMail MIME-Version: 1.0 Content-Type: text/plain; charset=UTF-8 Content-Transfer-Encoding: quoted-printable X-Mailman-Approved-At: Mon, 20 Jan 2020 14:39:33 +0000 Cc: Bitcoin Protocol Discussion Subject: Re: [bitcoin-dev] Coins: A trustless sidechain protocol X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.15 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Sat, 18 Jan 2020 08:21:44 -0000 Goog morning ZmnSCPxj, > Unless of course you propose to have the sidechain issue its own coin= , in which case it is not much more than an altcoin. Okay, call it an altcoin consensus mechanism. Because sidechains do have to= issue their own coins. Still, I am not proposing independent altcoins. Bitcoin is the only unit of= account. I am proposing bitcoin derivatives only as means of bitcoin trans= fer. Think of gold vs cash. > Still, the real-world value of the total block rewards for that altco= in will have to match the real-world value of the total block rewards of Bi= tcoin in order to have security even approaching Bitcoin. My point is that, assuming equal rewards, PoW and bitcoin-backed PoS do off= er the same level of security. So in theory, you are right. In practice, a sidechain does not need to be a= s secure as bitcoin. It requires only a sufficient user base. Thanks again for your detailed answer, -Robin