I do not know if this has been discussed before, but would love to get your view on this:
What if Tezos Blockchain tracks Bitcoin block headers. Considering block header is just 80 bytes of data every 10 minutes, it is not a lot of data to add to Tezos blockchain.
This can enable cool things-
- Trustless swap between Tezos and Bitcoin(using HTLC).
- Trustless minting of tzbtc in Tezos Blockchain. Claiming back BTC on the Bitcoin blockchain still needs to go through a trusted third party(but may be trustless swaps above could be used instead).
- If Schnorr aggregate signatures(will soon be supported on Bitcoin) could also be supported on Tezos, enables two way transfer of Bitcoin between Tezos and Bitcoin blockchain.
- It’s a big win for both Tezos and Bitcoin.
We can develop this as a Smart Contract, no doubt- but it would be a lot of data to populate those 600,000 block headers costing a lot of fees. But if the first 600,000 block headers was bundled along with a protocol change, adding new block headers could be managed by the bakers(just like the harbinger protocol- for getting price feeds).
What are your thoughts on this?