Read_766 - Spiderchains, Proof of Stake L2

"Take the idea of proof-of-stake as a base layer consensus mechanism, and throw the idea away for right now. That's not what this is, and the problems that need to be solved to enable proof-of-stake as a second layer system instead of a stand alone base layer are not the same. #Proof-of-stake is essentially a #federation, but where anyone can join and can't be stopped from doing so, and with a mechanism to punish members for acting malicious. As a base layer that creates all kinds of existential issues, like the objectivity of a slashing penalty. Proof-of-stake as a second layer does not have that problem when the bonds for slashing are on the main chain, governed by proof-of-work."

We have a new addition to the sidechain discussion with the announcement of "Spiderchains," a novel approach to the peg in/out model. Enalbing a proof of stake system that uses the underlying Bitcoin chain as the ultimate source of time and finality. The interesting thing? Not a single change to Bitcoin is necessary to make it work, so one way or the other, it's going to happen. Find out more...

Check out the original article at: Spiderchains, a Proof of Stake L2

Lopp's Spiderchain Article: An Introduction to Spiderchain

Bitcoin Audible: Read 562 - Only the Strong Survive - Part 1 [Allen Farrington & Big Al]

You can support the show by checking out our sponsors!

• 9% off the Coldcard with code BITCOINAUDIBLE, ⁠⁠⁠⁠⁠bitcoinaudible.com/coldcard⁠⁠⁠⁠⁠
• Check out the KYC Free, simple, no management, Bitcoin merchant solution, ⁠⁠⁠⁠⁠Nodeless.io/guy⁠⁠⁠⁠⁠. Use my link to go to ⁠bitcoinaudible.com/nodeless⁠ and setup your donation page for free, then share it out on Nostr or Twitter and tag me, and I'll throw 10,000 sats your way!
• Get 50,000 free sats, plus sats back on everything you buy by signing up with Fold and the Spin+ Debit Card. ⁠⁠⁠⁠⁠bitcoinaudible.com/fold

---------------------------------------------------------------------------------------

"If the doors of perception were cleansed, everything would appear to man as it is - infinite." — William Blake

--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message