16

Yes it's definitely possible, but why create a whole new coin for that? A better idea would be to create a Zerocoin sidechain (post RingCT) for Monero that allows people to move their Monero into the sidechain, mix it and send it to anyone else on the sidechain, and then pull it back out. This would avoid the massive risk associated with ZCash's trusted ...


12

A lot of the other answers address some but not all of the questions. Is Monero intended to be a competitor to Bitcoin, or is the intent to develop technology that will improve Bitcoin? It is unknown whether Bitcoin will ever implement any of Monero's technologies, but from the outset, the cryptonote protocol (from which Monero has evolved) was made to ...


10

The esperanto term for daughter chains is Moneridos. Daughter chains are pegged side-chains which can be merged mined. They are designed to process microtransactions and other stuff that would just spam the main chain, like on-chain betting or gambling. The differences to side chains are that they are deeply anchored into the Monero Core and will be enabled ...


8

I think the answer is both Aside from the privacy advantage of not having worry about being identified as a ring signatures side chain user, Monero offers other advantages such as a hedge of having an alternative hashing algorithm to secure the network. In addition, next level advancements such as RingCT and Kovri will likely come much later in a ring ...


7

From my understanding, the problem with implementing ring signatures as a Bitcoin sidechain is that you would stand out like a sore thumb if you transfer normal Bitcoin into the ring-sig sidechain. The actual transactions on the sidechain might not be traceable but the transactions to/from said sidechain may well come under additional scrutiny (e.g. by ...


6

Including it as a sidechain would not make Bitcoin transactions very private as you'd still know which coins were used in the sidechain. Ring signatures would need to be baked into the Bitcoin protocol, and become mandatory for Bitcoin to enjoy the same level of privacy and the chances of this happening are probably extremely slim. This would be the same ...


5

Side chains are blockchains that Monero can be moved to and from with a form of pegging. Decentralized sidechains will need miners to secure the network for the same reason miners are needed to secure Monero. For this reason adding sidechains only make sense once the main chain has achieved a high enough hashrate to be very secure. Federated sidechains ...


5

Another option would be to add a zero-knowledge protocol option, with no side-chain at all. This might be the least code-bucks for the most privacy-bang.


3

Would is be possible for a developer to create a completely transparent sidechain that is pegged to Monero? That would certainly be possible. To prevent issues with the mainchain we would have to implement a cryptographic proof, i.e., the amount of XMR that went into the sidechain would have to be equal to the amount of XMR that goes back into the "...


3

There are a number of projects currently developing protocols that could be used for p2p transactions, financial derivatives, decentralized governance, and self-enforcing agreements. Once multisig is implemented, it would be possible to incorporate Monero to enhance the privacy features of a smart contract application.


1

In the future, yes. Check out the Tari announcement. This, alongside the ongoing work at the Monero Research Lab to bring daughter-chains to Monero, is a big step forwards towards Layer 2 capabilities.


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