Quote from: georgeblair on October 22, 2014, 10:19:40 PM

I mentioned the blocknet as a proposed alternative to "pegged sidechains" for bitcoin on a reddit thread.

http://www.reddit.com/r/Bitcoin/comments/2k070h/enabling_blockchain_innovations_with_pegged

A criticism offered was that a full node and miners would have to keep track of every single blockchain. How will each node on different blockchains "keep up" with other blockchains?

Thanks, very excited about the potential of this!

Thanks. Interesting perspective.

Miners aren't necessary in a PoS blockchain.

As for the matter of having to keep track of every single blockchain, that's not really true.
- the issue is that you'd need a way to tell that the other party has paid you, and vice versa
- since you're not on the other chain, you can't tell whether the other party has paid.
- so a decentralised exchange service could, say, set up an atomic group_sig (m-of-m) transaction between buyer and seller, and the two payments would happen as one indivisible contract.
- the chain that the exchange is built on would record this (this chain need not even be the chain of one of the coins in the tx)
- and your wallet would track this chain.

Done (hypothetically. I'm just riffing here; haven't heard from the devs yet).