Tokenizing assets on Bitcoin sidechain
- Issue a new asset in any quantity
- Send a single transaction with several assets
- Transact privately using Confidential Transactions, with amounts and asset type known only to the parties of the transaction
- Destroy quantities of an asset
Tokenized securities have generated quite a bit of interests among traditional investors observing the cryptocurrency space. While Wall Street sees this as a gateway to introduce more digitalization to traditional securities, some Bitcoiners regard it as a distraction from the original goal of creating a peer-to-peer financial system. Do tokenized assets on a Bitcoin sidechain represent the best of the both worlds? Or a compromise to attract more "institutional interests"?
We are excited to introduce #IssuedAssets on Liquid! Users will be able to issue assets representing existing financial instruments such as tokenized fiat, #crypto assets, gold coins, & completely new assets all on a secure #Bitcoin-backed #sidechain. ⛓️ https://t.co/PkE1PnlGrK pic.twitter.com/lXSfJR64Mn— Blockstream (@Blockstream) July 2, 2018
I worked on colored coins in the past, and have grown pretty skeptical about “blockchain tokens” since then. But the “assets on a sidechain” approach addresses two big pains:— Udi Wertheimer 🔨 [#reckless] (@udiWertheimer) July 2, 2018
* doesn’t bog down and isn’t bogged down by a public blockchain
* offers crucial privacy improvements https://t.co/rKfRKzlRH6
There is a federation of functionaries, typically exchanges or other large trading parties, 2/3+1 must sign the blocks. Because of the confidential assets they do not necessarily know what assets or amounts are being transferred. It's up to exchanges which assets they list.— Adam Back (@adam3us) July 3, 2018
"Bitmain's Bitcoin mining pools centralization is now a mere 8% to the critical level of 50%, which is a serious concern because it potentially threatens Bitcoin’s immutability. It could give one entity a certain degree of control over the whole network such as blocking or reversing transactions. Bitmain doesn’t disclose what percentage of hashrate out of its pools it physically operates but it controls the block templates for the entire pool nonetheless."
So IOTA only seems to work under an adversarial model if an adversary is unable to gain network posture to connect to the nodes that make up the network of a globally connected payment network. pic.twitter.com/1skVlyeTin— Sarah Jamie Lewis (@SarahJamieLewis) February 26, 2018
"Zcash 1.1.2 has been released on the heels of Zcon0. This Overwinter-compatible release focused on implementing internal changes necessary for Sapling in tandem with the librustzcash and sapling-crypto libraries."
"The goal of the testnet game just weeks before launch is to simulate a mainnet environment to stress-test all the features. Since the Cosmos technology stack is near feature-completeness, the need to stress-test the simulated environment, the mechanics of the Cosmos Hub, and each and every one of the features promised in the deliverable of the MVP is vital to the success of the Cosmos Network before its mainnet comes online."
"The miners might have one idea, while development teams and exchanges have another. But because Bitcoin has no decentralized governance system, there is no way everyone can agree on a formal way to progress the blockchain. Perhaps the most important thing Jake highlighted was that the actual holders and users of Bitcoin have no say in any decisions about the future of Bitcoin."
"Engadget has reached out to Google, Amazon and various smart home manufacturers about any efforts to curb abuse and have not heard back at the time of publication. The only company to get back to us was Simplisafe, which specializes in home security. It said that in a situation where an abusive ex is misusing the technology, the remaining home owner could call in with a predetermined safe word in order to cancel service or reset PINs and passwords."
News & Commentary
"Coinbase Custody’s unique features include:
- On-chain segregation of crypto assets
- Split, offline private keys that require a quorum of geographically distributed agents to use cryptographic hardware to sign transactions
- Multiple layers of security
- Robust cold storage auditing and reporting"
"Many will compare Bitcoin to a company or stock, which can go to zero, as a reason not to invest in it. However, Bitcoin is decentralized and autonomous. There is not one man, group or board of directors that can run it into the ground."
"Draghi’s guidance was cheered by markets as prudent when it was unveiled last month. Economists and investors who had expected a rate hike in the middle of 2019 pushed out their forecasts to late in the year. But a few see a bigger threat -- that the ECB becomes trapped in a zero-interest-rate world as the economic cycle turns down."