Read_766 - Spiderchains, Proof of Stake L2

"Take the idea of proof-of-stake as a base layer consensus mechanism, and throw the idea away for right now. That's not what this is, and the problems that need to be solved to enable proof-of-stake as a second layer system instead of a stand alone base layer are not the same. #Proof-of-stake is essentially a #federation, but where anyone can join and can't be stopped from doing so, and with a mechanism to punish members for acting malicious. As a base layer that creates all kinds of existential issues, like the objectivity of a slashing penalty. Proof-of-stake as a second layer does not have that problem when the bonds for slashing are on the main chain, governed by proof-of-work." We have a new addition to the sidechain discussion with the announcement of "Spiderchains," a novel approach to the peg in/out model. Enalbing a proof of stake system that uses the underlying Bitcoin chain as the ultimate source of time and finality. The interesting thing? Not a single change to Bitcoin is necessary to make it work, so one way or the other, it's going to happen. Find out more… Check out the original article at: Spiderchains, a Proof of Stake L2 Lopp's Spiderchain Article: An Introduction to Spiderchain Bitcoin Audible: Read 562 - Only the Strong Survive - Part 1 [Allen Farrington & Big Al] You can support the show by checking out our sponsors! 9% off the Coldcard with code BITCOINAUDIBLE, ⁠⁠⁠⁠⁠bitcoinaudible.com/coldcard⁠⁠⁠⁠⁠ Check out the KYC Free, simple, no management, Bitcoin merchant solution, ⁠⁠⁠⁠⁠Nodeless.io/guy⁠⁠⁠⁠⁠. Use my link to go to ⁠bitcoinaudible.com/nodeless⁠ and setup your donation page for free, then share it out on Nostr or Twitter and tag me, and I'll throw 10,000 sats your way! Get 50,000 free sats, plus sats back on everything you buy by signing up with Fold and the Spin+ Debit Card. ⁠⁠⁠⁠⁠bitcoinaudible.com/fold --------------------------------------------------------------------------------------- "If the doors of perception were cleansed, everything would appear to man as it is - infinite." — William Blake --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message