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Assets on Decred #45

Open xaur opened 5 years ago

xaur commented 5 years ago

This issue is to capture discussions and ideas on building asset protocols on top of Decred.

xaur commented 5 years ago

Assets can be used as an extra source of fees to pay for network's security, per this discussion.

The attractive side of this idea is that Decred and possible assets on it are both interested in maximizing network's security. The possible danger is that assets may steer Decred from its mission. There's a lot to research to this topic.

xaur commented 5 years ago

Somewhat related: discussion of dApps, doubts that dApps will be big and that turning a blockchain into a platform is a good idea.

xaur commented 5 years ago

The "miner-validated" can be a critical property for assets, question is whether it adds on-chain load and how much.

xaur commented 5 years ago

Mention of tokens in context of DAEs hosted on Decred blockchain:

xaur commented 4 years ago

To be clear, the RSK project isn’t “based on bitcoin,” it’s more bitcoin-adjacent. The RSK sidechain branches off from the bitcoin blockchain and issues bitcoin IOUs, harnessing the power produced by bitcoin miners but using a separate federation to manage the sidechain.

Zaldivar said there are still 15 projects in the RSK federation, down from 25 founding members in 2016, though he declined to specify names. If these federation members turn off their servers, with their built-in nodes, the public RSK protocol will not be able to swap bitcoin IOUs for real bitcoin. (coindesk.com)

The last sentence demonstrates the challenge of building an asset layer on top of the base chain. If asset transactions are not validated by miners of the base chain, and instead rely on the nodes of the overlay network, then if this overlay network is not strong enough people may lose control of their assets. Additionally, if those assets are tied to coins locked on the base chain coin, these coins may be never recovered. I guess this is what insette and davecgh discussed here.