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> multiple chains combining into one. Does anyone know if this has happened before? I don't think it happened on any meaningful chain. It could be donetechnica
by fab13n 9y ago
> multiple chains combining into one. Does anyone know if this has happened before?
I don't think it happened on any meaningful chain. It could be donetechnically through a proof-of-burn on the giving chain, and the corresponding minting on the receiving chain.
Something loosely comparable would be conversion from a token to another within the same blockchain, and this must have happened quite a few times on Ethereum; but that's within a single blockchain, so arguably doesn't count.
However when you see how difficult it is, in terms of governance, to address such an obvious issue as Bitcoin's tiny throughput, I can't imagine two distinct chains agree, in a timely fashion, both on the principle of a merge, and on the way to execute it. Maybe on-chain governance, as proposed by Tezos, will fix this problematic indecisiveness on blockchain evolutions, we'll see.
- jsnathan 9y agoI haven't read the Tezos paper yet but I will add it to my reading list. Thanks! I do think there is a lot of potential room for improvement in how blockchain governance works, especially in terms of delegate voting. Maybe it is more reasonable to expect a majority portion of one chain and a majority portion of another chain to merge, leaving behind two stragglers, and then allow those who continue to hold the old tokens to buy in later at a decreasing discount.