Bitbasket p1: Multi-Peg

Part 1 of Bitbasket Concept: Overview on Multi-Pegging and Validation Schemas.

Transcript

1. Bitbasket Part 1: Multi-Peg Multiple Sidechain Implementation
2. Jacob Payne Web Developer + Crypto Contact me @latrasis
3. So what’s Multi-Peg?
4. A Quick review: Sidechains/2-Peg
6. One coin comes in different coin comes out. & vise versa
7. Fixed Rate + 2-Way Pegging Mechanism = 2-Peg
8. [ ¢ ] [ 0 ] Coin Sidechain
9. [ 0 ] [ ¢ ] Coin Sidechain
10. [ 0 ] [ ¢ ] Coin Sidechain [ ¢ ] [ 0 ]
11. [ X ] [ X ] Coin Sidechain
12. [ X ] [ X ] Coin Sidechain [ X ] [ X ] Coin Sidechain
13. Multi-Pegging
14. [ X ] [ X , X ] Coin [ X ] Coin Multi-Peg
15. Multi-Peg Validation Schemas
16. Merge Mining Schema
17. Chain Chain β α αx βx Multiple Hash Algorithm Validation
18. Pros: • Secure from Cheap Attacks • No Central Miner Client (Only Plugin) • No Cost of Entry • Promotes More Miner Types
19. Cons: • Requires Pool Admin Consensus • Accelerates Miner Centralization • User Client Fragmentation
20. Coin Mining Schema
21. Chain Chain β α αx βx basketcoin
22. Pros: • Added Coin Minting Incentive • Modular • Universal Multi-Client for Users
23. Cons: • Client Bloat • Central Client • Cost of Entry for Switching Clients • Miner Fragmentation
24. Proposition Hybrid p2p Pool Schema
25. Chain Chain β αx βx basketpool α
26. Possible Pros • Decentralized Mining • No Cost of Entry (only Plugin) • Client Node is a Pool Node • Secure from Cheap Attacks?
27. Cons: • Client Bloat? • Central Client • Requires Miner Consensus • Hard Fork Susceptible
28. Questions?