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Last active August 28, 2023 14:12
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Along these lines: CashTokens enables trustless proof-of-stake sidechains run by sets of cashtoken holders. Withdrawal transactions can be processed on an interval by a vote of token holders + "enforced vote secrecy"

Works just as well for a prediction market as it could work for a trustless mixing service, effectively like, but doesn't have to be written in a blockchain VM language, you can just write the thing in Rust or whatever (the only mainchain consensus code is some simple covenants + CashTokens)

So more plainly: you can launch Zcash/monero clones as proof-of-stake sidechains, and deposit/withdraw BCH whenever

(and atomic swaps work between the chains)

The gist is that we can do the same withdrawal process as Drivechain:, but instead of having miners vote, the cashtoken holders vote. Vote coordination is discouraged by the sealed voting idea from Truthcoin (page 43)

So there are 3 types of assets: BCH, sidechain "shares" (cashtokens), and sidechained-BCH (BCH that is locked in the covenant and currently being used on the sidechain). More info:

An unlimited number of such sidechains can be created, they just need to grow a large enough shareholder base that a single person controls no more than 50% of the token. E.g. even if group of fraudsters owns >50% it's still secure because one of the groups members can profitably double-cross it. All that matters is determining whether a single rational actor has a majority stake. (Page 25 here

-- Jason Dreyzehner on Telegram

PoW version:

I think we could use our Script + CashTokens to implement BIP300-like hashrate escrow, too.

Hashrate would opt in by using a simple one-time vote covenant (OTVC) address that requires bridge DAO input as sibling.

Bridge DAO could then burn and tally these one-time vote covenants and accumulate them in NFT's commitment. By "unpacking" the TXID of the vote covenant's input, the DAO can verify the vote is indeed coming from a coinbase TX, and extract the height from the input to verify belongs in the voting window.

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