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RE: Feasibility of sidechains/crypto multisig gateway
Hey pharesim, Hoping to contribute something in this discussion.
I'm glad you're willing to reincarnate this subject. I agree, BitShares can really use a decentralized gateway to breath new life into the platform. My question, is it possible to maintain control of a decentralized gateway within the current BTS network and code? Or can this only get accomplished outside of the BTS network, hence a second chain?
I had an idea, which to me, would be an ideal situation; but at the time didn't get much feed back and I'm not even sure if it could get implemented?
That post was here... https://bitsharestalk.org/index.php/topic,21984.msg286531.html#msg286531
It wouldn't be implemented in BTS directly, but run as a service between the different blockchains. There's no additional chain involved, necessary data is held on the BTS chain. The service can connect to local or remote chains.
Control over the coins will be seperated from witnesses, a node running the gateway service is called a signer. Those are chosen by the BTS asset holders. Witnesses are of course welcome to act as a signers, but only for coins they want to run the daemon for.
Any estimate for what the Node hardware requirements would be? Could this same idea be implemented in the Cli Wallet? So that any open BTS Cli wallet could function as the "node/gateway"?
The major load will be produced by BTS & coin daemons, not our service.
It could of course be implemented into any other software. We're going a standalone route though. We're also planning an own GUI. While it will be usable with any BTS client, that wouldn't be comfortable.
Ease of use for anyone not familiar with BTS is one of the primary goals.