Spiderchains: A Proof Of Stake Second Layer – Bitcoin Magazine


 This is an extension to my previous article series discussing the different sidechain proposals that exist. Those articles can be found here: Spacechains, Spacechain Use Cases, Softchains, Drivechains, Federated Chains, and Trade Offs Of Sidechains.

Botanix Labs has proposed a completely new sidechain design recently, called spiderchains, for the purposes of porting the Ethereum Virtual Machine to a platform anchored to the Bitcoin network. The architecture is a pretty large deviation from most prior proposals for concrete designs. Firstly, it does not involve miners directly in consensus or use merge-mining in any of its variant forms. Secondly, it uses multisig and escrow bonds to create a second layer proof-of-stake system on top of Bitcoin. Third, it does not require any changes to Bitcoin in order to deploy.

Source link Bitcoin Magazine


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