Hello all. Let me preface this by saying I’m not a developer and I don’t know how feasible this idea would be, but here goes nothing.
One of the key features of a currency is that it be divisible, but what if it were also extra combinative? What would the benefits look like?
For example, if you were able to create a “superblock” of say 1,000 or 10,000 ADA to group together in a transaction. I realize that ADA transactions are very fast now, but bear with me. The point will be to teach it a new trick. (Like making a $10 bill instead of counting pennies individually)
Once a superblock is made, you rightly must insure that nothing enters or leaves it until it is fully dissolved back into its original ADA count. The block could have a small code in it called a “latch” that verifies that no block has been added, removed or switched. The point of the latch (akin to a window latch you can see is open or closed) is to identify if a superblock has been tampered with in anyway, allowing some validation to make sure none of the ADA inside are malicious or a double spend.
You could think of this like a wrapped coin of entirely the same currency. The point is that once you teach ADA to do this it could potentially lead to some amazing interoperability features being added to other currencies.
For example, the upcoming velvet fork with Litecoin to update with NIPOPOW effectively allows the Cardano network to read/verify Litecoin’s chain. But could a velvet fork teach other cryptocurrencies how to be combinative into superblocks with Cardano verification?
Imagine a slow proof of work chain like Bitcoin being upgraded to allow superblocks, with a latch, verifiable and interoperable through both networks. You would have the security of the Bitcoin network & the Cardano network to verify the superblock is valid & the hashrate needed to transfer/sell/buy/etc the Bitcoin superblock could be reduced to verifying a transaction of 1 grouped block instead of thousands of individual blocks. Maybe I’m looking at this wrong, if so please tell me.
I realize this is very blue sky and that perhaps Bitcoin isn’t the best use case example as it is 1st gen and would need a community vote, but if a velvet fork could help any other proof of work cryptocurrencies do this through interoperability with Cardano that would be keen.
Again pardon my ignorance if this is not at all workable, feasible or good. Thanks for your time!