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This is the correct link https://ethresear.ch/t/bitcoin-cash-a-short-term-data-availability-layer-for-ethereum/5735/16
BCH is relatively easy to 51% attack (at least chain re-orgs are still possible). Dash is now nearly impossible to 51% attack, because both PoW AND LLMQ PoSe consensus mechanisms must be simultaneously compromised to pull off an attack.
Dash also has instantly confirmed, instantly re-spendable transactions ( akin to avalanche but with 4 more years of use in the wild ). Dash’s new security and speed upgrades make it a compelling candidate to host this type of application
Poor VB is getting hounded by Corean Maximalists now.
Core is upset that BTC can never provide a function like this.
High data throughput (32 MB per 600 sec = 53333 bytes per sec
You can't count all that as throughput for data you intend to store on the chain.
I suppose more rigorous analysis doesn't matter all that much since it's world's away from 10MB/s, and since it's unlikely that the block size limit would remain at 32MB for too long especially if they near saturated the chain. (I say 'near' because if miners felt that regular economic transactions on BCH are greatly impacted they would probably disadvantage data transactions...)
It's hard to get a feel for what the actual added load on BCH would be as a result of that move. Would have been nice to see an estimate in the article.
Overall I can't really think of much drawback to encouraging them to use the BCH network for this, if they want to. As long as they keep in mind the risks too. Although BCH fees are low and intended to stay low, market price changes could push them up until further technical changes arrive to effect a reduction. Also, what if some hostile hashpower decides to mine BCH by dropping the ETH data txs. This could hamper their desired throughput.
Its awesome. More use cases for Bitcoincash are more than welcome.
I think that it's a great idea. Depending on whether BCH can live up to its scalability promises, it will either sink or float. The current high capacity & low usage situation is less than perfect.
We will also see how the miner incentives are going to be affected by huge blocks.
lol, why not use storJ ;) ready to unload tons of non-consensus related data, let's get dem block full boys..... ^^
so raiden , OMG , plasma, all useless? was a good move to spend funds on it...
very disappointed about this BCH scalability solution , and I don't think only me, the market speaks.
Ethereum already has some centralized sidechains such as POA, xDAI, Loom network. Why BCH?
BCHABC has a very low relative hashrate and continuously dropping, which means you only need like 2-3% of Bitcoin’s hashrate to successfully disrupt the chain like BCHSV did.
Such attacks can be on and off for a long time completely eroding trust and cost relatively little to the attacker. When the price starts falling all selfish miners leave BCH, the attack becomes even cheaper.
This situation will get worse after the halving in about 10 months or so because the fees are not supporting the miners.
In the past, attacks on BCHABC were defended by Bitmain even if it cost them a lot of money because they held 1M of BCHABC, but rumour has it they are continuously unloading it on orders from the new management, so Bitmain may not come to the rescue as readily in the future.
Also we now have BCHSV chain that has a strong interest to destroy BCH, so they would likely jump in helping any attacker to cause as much disruption as possible. Remember this is not hypothetical. It already happened once halting BCH to virtually stop transactions for two weeks.
If the data stored by Ethereum has any value there is incentive to attack BCH and indirectly short ETH.
This whole idea is pretty risky for ETH.
Perhaps LTC or even something like Doge would be a better choice as it doesn’t compete with hashrate with Bitcoin and with BCHSV.
Why isn't there a proof of concept with storage on Swarm yet? Version 0.4.2 recently came out. Surely that is ready for storing the state by now.
This is a good example of why rent is important. If this ever went through BCH would be getting absolutely leached from this deal. One off cost for storage and free reads from other nodes doesn't make sense.
He brings up a lot of really good points. Glad he is a fan of https://Memo.cash and Avalanche, I see a lot of potential in both
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