How hard is to implement sidechains? in technically way, and how much community want something like this.
I think about: new blockchain "ABC" who want to use only xmr.
Make "special address" in monero blockchain
-sending funds to "special address" needs information on with address from ABC is receiving funds.
-maybe wait 10 block.
-To receive funds on ABC must be created transaction: New coins! from xxx MONERO's block and new ABC token is created. (I receive ABC token minus a ABC fee)
when I want go back to monero blockchain:
-I need on first Burn my ABC tokens.
-After that I create on monero transaction burned ABC tokens in xxx ABC's block. and funds are send from "special adress", sign by ABC's address who burned tokens. (I receive my xmr minus monero's fee)
"Special Address" don't use Monero's private key signature, but ABC's private key signature form address who burned ABC's token. (only if burned funds are not spend yet) The only address with this function. This address can be fully visible if it is needed. private key to this address don't work (is in exception list).
If sidechain will be broken (ex. double spend) who first burn tokens will have XMR who stay longer will get nothing because "special address" is empty.
I will love to see:
-TARI as a side chain
-side chain with some kind of "smartcontracts" focused to simulate different blockchain for easier atomic swaps (with every one Cryptocurrency/token). chain without pirvacy.
-another side chain (CBA) for fast and cheap transactions. I think about something with Proof of Stake block every 10s and in every monero's block will be saved last CBA's block hash. fees half for staking CBA and half for monero miners (they will receive funds from "special address"). this chain don't need to be private.
