Disclaimer: I'm trying to flesh out a system that has only been described at a very high level. The purpose of this document is to write down notes on how I currently and tentatively believe subnets will work. This document is not authoritative, and may be significantly revised or even deleted.
All the credit for this approach goes to Aaron Blankstein. This document is based off of a conversation I had with him. I'm merely filling in the gaps.
From what I've been able to gather, a Stacks subnet is shaping up to be a system that, at a high level, makes a lot of similar guarantees to sidechains and drivechains. It has the following properties:
- Closed-membership: system liveness is driven by a whitelisted set of network participants.