Post
Topic
Board Altcoin Discussion
Re: Zero Knowledge Transactions
by
XMRChina
on 19/10/2015, 00:58:42 UTC
Do the development as crowdfunded stages with each product produced running autonomously. Enable coins to be burnt from one development stage to the next. Each stage runs as a decentralized, autonomous protocol. Whole new paradigm for altcoins. Perhaps I will be the first to test the model (pending decision involving this thread). Maybe Gmaxwell is reading and can apply this to the general concept of side-chains.

Adam Back already proposed burning coins as an upgrade mechanism, which he called a one-way peg. It was that idea, in fact, which directly led to side chains (i.e. bidirectional burning or two-way peg).

I personally believe that spin-offs are a better model for upgrades than burning but the argument could be made either way (and there may be technical reasons to prefer burning).

Wasn't Peter R who first proposed something like that years ago. I am nearly certain but I forgot the name he gave to the concept.

Peter R proposed spin-offs as a bootstrapping mechanism for new coins based on Bitcoin's distribution. I don't remember him proposing it as an upgrade mechanism (although a hypothetical Bitcoin "upgrade" does fit within his model). https://bitcointalk.org/index.php?topic=563972.0

Unless he proposed something else in addition, which is also possible.

To my untrained eye, this idea of pinning a new coin's distribution to the BTC blockchain looks a lot like what happened with CLAM.

Clam distribution used LTC, DOGE and BTC.