All off-chain (and side-chain)
must be insecure and must be entirely centralized. Afaics, there is no possible solution to fix off-chain and side-chains, because the problem is inherent in them not being on-chain. Craig Wright
explained that well (which appears to be correct even though
he has made some mistakes in other areas of his analysis). I have a
comment linking to that and discussing that on Steemit.
I will soon endeavor to delve into more detail on that to make it crystal clear.
You may also want to review the
discussion I had with the developer of Bitbay about Lightning Neworks.
Regarding side-chains:
(Unvetted/claimed) FACT:
Only our new decentralized ledger design solves secure, decentralized scaling. None of the others do: proof-of-work, proof-of-stake, side-chains, off-chain (aka
time-locked contracts), Casper, Byteball,
IOHKs Ouroboros, SPECTRE (is not same as Spectrecoin), Iota, and DPoS (which is used in many projects such as Bitshares, Steem, EOS, Lisk, Ark, etc). I am writing
a blog post about why all those other systems are insolubly flawed.
This
(claimed) fact will be explained in great detail.
There is a secret Gist that describes the new invention. This will be made public soon.
I urge you to read Vitaliks astute analysis of the flaws of DPoS (and that it is
entirely centralized and can be attacked by attacking the whales of it):
https://steemit.com/eos/@dan/reponse-to-vitalik-s-written-remarkshttps://np.reddit.com/r/ethereum/comments/6qm0y2/is_the_ethereum_team_defending_their_ground/dkyk94c/https://www.reddit.com/r/ethereum/comments/6qm0y2/is_the_ethereum_team_defending_their_ground/dkzoj5t/DPoS is centralized, permissioned, and highly vulnerable to abuse by nations, lawsuits, etc.. That can not be a world changing decentralized ledger that we can depend on. Also the consensus algorithm is far too subjective and not objectively verifiable.
Steemits
DPoS was offline for over an hour before I slept. And when I awoke it
has still been down several hours later. A centralized ledger design is not robust enough to scale out to the world. It works for some small shit like Steemit sometimes. Is that centralized DPoS acceptable for a world computer in that it will go offline for hours?