We have a framework for how a customer will initiate a smart contract and sidechain via the BiT API. In order to prevent bloat the smart contract will be a hashed code stored on the blockchain, the BiT API will call the specific block and hashed code. There will be two kinds of smart contracts to start. For lack of a better term at this point im going to call them the Genesis Masterchain Smart Contract (GMcSC) and the Genesis Sidechain Smart Contract (GScSC). These two will be used to control the flow of delegates from one sidechain to another. We will be editing our node software to manage these additional chains. The GMcSC will be the verifying object ensuring that all customer requirements are within acceptable parameters for creating a sidechain and that the infrastructure is ready to handle it.
We do have a method to move delegates from one sidechain to another in a queued fashion. We want to make sure that a delegate never misses their opportunity to forge on the main chain or misses a block on a sidechain in the rare occasion a delegate is scheduled to forge for two chains at once. While this is possible, for the first iteration we will manage it so a replacement delegate is found for the sidechain and will look into co-forging for a later version.
Each SC creator will be required to manage their own bloat. We will be offering two types of development options to assist developers in their SC creation. The SC creator will have the option for have a reviewless system, completely open to the public where the developer is responsible for everything and a github like repository where the community can provide code review.
A sidechain will come at a pretty hefty cost. Which the delegates will receive a portion of. We want to encourage actual development of real applications on our sidechains, and discourage ETH esk tokens that do nothing besides sit there and look pretty.
Raj is going to look into the bad actor ban. He thinks the code is already in our version but it may not cover the exact scenario we discovered today. So he is looking into that.
And we want to make things easy for the nodes so we are working on a node updater as well. This is still in early development and we need a method that informs the delegate (person) that there is an update ready for install without compromising security.
That way we can keep everyone up to date, won’t need to worry about reconfiguring anything and most manual work is taken out of the equation.
We have 2fa installed on the site just need to enable it and make sure the plugin doesn’t bonk anything for investors.
Business side. This is a difficult one as there is a TON I want to update you on but legally can’t due to NDAs. One thing I can say is we have been receiving consistent requests for sidechains which is increasing the pressure on us to get those out and ensure that they are working as designed. These are not small companies, I’m talking about. They are multimillion dollar behemoths so everything has to be correct when we launch these. Kevin has been having non-stop meetings. In one case a single meeting turned into 8 the next day when he was in LA.