The goal of this post was less focused on counterparty risk and more on the tech HIVE needs to implement for efficient multisigs. But to remove counterparty risk, the L1 multisig needs a LOT larger number of signers to be secure. Trusting 30 validators vs 500 validators is a huge difference. 30 validators would be a lot easier to corrupt vs 500. Essentially, what we are trying to do is bring the same level of security the L2 already has, to the L1 multisig. Ensuring there is little to no difference between L1 multisig and L2 security and we ensure the operations happening on the L1 are exactly the same as what's happening on the L2.
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OK, yeah makes sense.
What if hive outsources smart contracts to something like koin and add a koin address to hive wallets in some way? Since wallets are free, It could be IMO something that is less heavy and makes hive with the social stuff more efficient. Only because of 1+1=3 since every milestone they hit would benefit efficient hive too.
I mean I support also L2 smart contracts on hive, which would be a game-changer for sure. Special hive could become more finance-related and there is the money.
I'm not quite sure what you mean, but as far I know something like that is not possible unless HIVE is completely removed from the picture or if an adapter layer is built in the first place. We are already building VSC to act as that adapter layer and can enable HIVE to hook in with other blockchains must more easily. Now, we need better support on the HIVE side to best enable VSC to work with the L1.
What it sounds like you are trying to say is making a feature where HIVE can login to Koinos and utilize Koinos from keychain or something else. That's already technically possible and doesn't require anything from HIVE core devs or koin either. But that means anything on Koin isn't even remotely connected to HIVE (aside from account), so the benefit I see is somewhat null.
I fully agree, this would be a hybrid solution ( that must not be bad). Native ones are better for sure. With some work the User name wallet part of hive could be like a ENS on it. So people could send to hive user names in some way ( with some work for sure). This would be pretty nuts.
Was just an idea, since it would also fix a softwallet solution for hive ( with some changes).
For sure. The identity side of it is pretty reasonable to do. There is a lot of interop starting to happen throughout the ecosystem regarding identity and more is always better. For example VSC supports offchain accounts and those accounts can be Ethereum based, thus we can also use .eth domains as part of VSC's identity system. So this would be a similar thing here where HIVE would be a unique name for Koin accounts.
Nuts! That sounds pretty cool and a good way to go. More connections generate more value. And hive could become that way the ULTIMATE ENS for other chains.
I like it!