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sgtn
sgtn

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Bitcoin Sharded ($BTCSH)

With biggest respect for Bitcoin, BitcoinCash, Zilliqa, and Thunderella.

TL;DR

  • Zilliqa is sharding + smart contract + GPU PoW for shard determination
  • All permissionless blockchains are spatrated into three properties: Type of Sybil Attack Mitigation Cost + Data Structure for History Consensus + Scalability Trade-off
  • $BTCSH is just a clone of Zilliqa because...
    • Replace hash algorithm with DIY hash algorithm and DIY ASIC
    • Turn off Gas module, and mitigate DoS by your own construction
    • Less eager to Smart Contract ecosystem

Spec

  • Type: PoW-permissionless pBFT(sharding, 33%halting, 66%reverting)
  • Purpose: Store of Value, General Merchandising, Censorship-resist, and no 2nd layer
  • PoW algo: Original dedicated FPGA ASIC (All miners must buy it)
  • Blocktime,size: Same as Zilliqa
  • Finite Coin Supply (21000000)
  • Immutable (no revert by community)
  • No ICO in order to be commodity
  • Smart Contract: Finite State Machine only, Formal Verifiable, Account Model, and Script based(is it possible?)
  • Remove Gas from Zilliqa

Insight

  • SoV, but seamless transaction experience
  • Useful but have network layer censorship-resistance
  • No big block: Nonce-added chunked final block propagation
  • No adversarial shortsell: Smart Contract abandoned design
  • Linear scalability
  • BTC flavored incentive to utilize on shop (SoV viral)
  • Maybe Stronger than usual PoW's selfish mining (No pool needed coz PoW is less frequent) ... Need clarification
  • Shard robustness: 33%halting, but 66%reverting. Chain halting condition is BTC equal, Chain crashing condition is almost impossible ... need clarification

Upside

  • This coin is Pure commodity, not a security like ICO-ed Store of Value
  • No Gas for Tx
  • No channel opening: Seamless experience and good for referal like BCH
  • No trolling from bigger, same hash-algo chain like Monacoin (20++ height reorg 51% attack there was)
  • Censorship-resistance is provided not like BCH the Big Block
  • No Short sell and 51% Attack like commodity machine PoW Smart Contract chain

Downside

  • BTC, BCH has security/channel network effect
  • Way bit complicated
  • Protocol is not formally verified
  • Reorg is complicated as per Zilliqa
  • DoS mitigation for no Gas custom needed
  • Is the FinalBlock(TxBlock) getting to be giga block?

non-Gas DoS mitigation

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Lastly

  • You might say "Nah, Bitcoin has strong network effect".
  • The value of this protocol is innately it is "commodity".
    • Is the Litecoin no value? Not.
  • Commodity doesn't promise anything thus it is security.
  • Gold and Silver there are. Each of them have different beauty and usage. Commodity discovery engineering is not "winner takes all". Just share the new natural resources/asset-class with others.

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