“Sidechain Risks, The Case Against Worrying” — Video Presentation by Paul Sztorc

Hi Everyone,

Sidechains can be added to Bitcoin, with a relatively tame, opt-in soft fork.

This small change can have big benefits for Bitcoin, but what of the risks to Bitcoin?

I recorded a presentation, to try and communicate my point of view. These issues are very complex, so I hope there are no mistakes! All views are my own.

Table of Contents:

  1. Intro
  2. The Docile Miner
  3. Bandwidth
  4. Tx Fees
  5. Orphaning & Conclusion

Notes:

  • While the focus is on sidechains, the talk necessarily becomes a kind of "Scaling Overview".
  • It's very long, but my goal was to be comprehensive. Even this was barely enough time to cover everything!
    • I try to reach the conclusions in the first 5 minutes.
    • Each video has a text summary in the description — for fast reading / skipping around.
  • It covers content which is both very basic, and very advanced. So, I'm not sure who the right audience is. Sorry about that.
  • If I had to rank them best-to-worst, I think (4, 2, 5, 3, 1) would be the ranking.

We recently reached the testing stage, although (as with all software development, always) everything is not yet 100% perfect.

As always, I did this primarily for my own benefit and understanding, but I hope you enjoy as well.

submitted by /u/psztorc
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Bitcoin