bitcoin-dev

Smart Contracts Unchained

Smart Contracts Unchained

Original Postby ZmnSCPxj

Posted on: April 4, 2019 23:52 UTC

The conversation between Aymeric and ZmnSCPxj revolves around the possibility of recovering funds in case smart contract platforms disappear.

It is stated that recovery is possible if all participants agree to a fair distribution of funds without dispute. If the code of the smart contract platform is open source, it may be possible to set up another implementation of the platform and convince all participants to switch to it. However, it is pointed out that sidechains are centralized systems and not truly decentralized, except for Lightning. The proposal moves towards offchain techniques like Lightning and is less centralized than federated sidechains. There is also a suggestion to use a decentralized system to store intermediate states and create a distributed escrow. Overall, it is highlighted that the possibility of smart contract platforms disappearing raises concerns about the decentralization and security of sidechains.