Post
Topic
Board Announcements (Altcoins)
Re: | ARDOR | Scalable Blockchain-as-a-Service Platform | Proof of Stake
by
coinphilosopher
on 23/02/2017, 03:19:10 UTC
I've got a question:

Is it possible to realize "pegged childchains" with Ardor?

An example: Ignis is probably the strongest childchain in the beginning phase. Now I could want to create a "IgnisPeg" childchain pegged to the Ignis value. For this to happen, I would have to lock the amount of Ignis I want to use as the "backing" of the peg, for example, 1000 Ignis. On the IgnisPeg childchain I then could issue 1000 IgnisPeg with a value of 1 IgnisPeg = 1 Ignis. The total amount of IgnisPeg coins could at some moment be burned and then the original Ignis I used to back the childchain would be unlocked.

That mechanism (very similar to what Blockstream is developing) could help to further enhance scalability once the Ignis childchain blocks are full.