Bitcoin could be pitch-forked as a UIA on bitshares, and that would solve immediately scalability issues. Bitcoin is just a simple dapp compared to bitshares (financial platform). Moreover, in the coming months, Bitshares 3.0 DAC will run on top of EOS and DPOS 3, becoming the first decentralized exchange outperforming centralized exchanges like bittrex, with none of the problems. Bitshares and EOS are not easy to understand, but if you want to invest in a back-end technology, you must do some homeworks. Well, @kimchi-king dit it in a brilliant way :) Thanks for this excellent article!
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Now this is some outside of the box thinking. I like your style.
Thankfully, the BitShares community thought about your concept a while back and created bitBTC. You can find more details about that here: https://openledger.io/asset/BTC
I wonder if more people knew about this wicked fast version of BTC would they begin to use it? If so, wouldn't that raise the value of BTS because each transaction requires a very small amount of BTS as a network usage fee. Seems like a win-win for both BTC and BTS lovers.
Well, let's see what the future brings our way.
BitBTC is an IOU on openledger. The pitch fork would be done on a BTS UIA (user issued asset). See the discussions about Bitcoin Fast from Stan larrimer: https://steemit.com/bitcoin/@stan/the-coming-bitcoin-pitch-fork
When users will have enough of bitcoin forks and minors vs core wars, they will see this as an elegant solution to bitcoin problems.
bitBTC is not an Openledger asset. Anything that starts with open. is an Openledger asset. Any asset that starts with "bit" is a committee approved UIA.
Therefore people can already use bitBTC to trade BTC on the BitShares DEX.
Thanks for the info, my mistake. So there would be another UIA for Bitcoin Fast, if I understand correctly. I will study bitBTC to understand this better.