Quote from: Pffrt on July 27, 2020, 03:44:41 PM

Quote from: DeepFan on July 24, 2020, 03:01:26 AM

As a result, it would be possible to convert Dev and Bounty funds from ONION to WONION (of course with ratio 1:1) and lock them via smart contract in the near future.

Wouldn't that be possible with multiSig process same as time lock of bitcoin? I think it will be a bad idea to move on ERC20 as we have intended to be privacy coin. There are a lot of room to grow as a privacy coin in my opinion. Well, it's true that many investors would be interested if the fund wasn't in single control of the team directly.

Well, probably better than current situation, but I don't think multisig would be the best solution. How would you choose trustworthy persons/entities holding the keys? This multisig solution still requires trust, WONION solution would be trustless. Moreover, as WONION would be an ERC-20 token, the funds could also be easily stored in offline hardware wallets.

Regarding the privacy, ONION would remain a private coin with all its current features. WONION would probably have less privacy, but it can be rather an advantage. Remember that big centralized exchanges don't like privacy coins. And with their KYC, there is no privacy even in case of privacy coins. This ONION/WONION could be a smart way how to be both privacy and non-privacy coin/token, combining benefits of both approaches. ONION could continue with development of privacy features and WONION could be for all other purposes. As ERC-20 token, it could also be simply integrated to many DEXes, i.e. even more privacy of trading, quite a paradox

BTW, there are already ERC-20 tokens with integrated TOR and other privacy features, check e.g. PlutusDefi. So some level of privacy would be possible even for WONION, if necessary. And for the purpose of storing of Dev funds, no privacy is needed, because the address is public anyway.

The most important thing now is to assess how technically difficult and time demanding would be creation of WONION. Considering the fact that DeepOnion blockchain is derived from BTC blockchain and WBTC already exists, it shouldn't be unrealistic.