Musings on Blockchains
Ongoing Chainsplitting?
The whole Bitcoin Cash (BCC) fiasco has me wondering: is this really the worst approach to developing an alt coin? The problem of coin distribution arises, of course, but new participants in the economy could get in through mining and buying coins from those who are uninterested. This brings an injection of capital at the outset that might not exist if those outside Bitcoiners, who've not interest in the new chain, just dump their coins on the market. At this point it's been done a number of ways.
There would have to be some novelty in the new version of the chain, many things to justify the size of the duplicate chain.
But overall, the approach to developing an altcoin by forking away from an active chain, without restarting blocks, block history, or funds allocation, is an interesting one that could yield entirely new realms.
Ongoing Sidecar-ing
The other approach is the Byteball approach, wherein they simply grant you a portion of their currency based on what you have in another. This isn't a bad idea either, but I think it could be expanded.
You could, for instance, create a really interesting economy if you built a new metacryptocurrency like Byteball which rewarded holders of the top 10 coins.
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