GROUP Proposal: a protocol upgrade that brings native miner-validated tokens

Network Discussions
#1

The proposal updates the Bitcoin Cash consensus to natively support alternative currencies without impeding on the utility of native currency (BCH) by upgrading the peer-to-peer cash system of Bitcoin in such way that every other currency transaction output creation marginally increases demand for the native curreny (BCH) thus remaining faithful to design precepts from the Bitcoin whitepaper.

The network discussion can be viewed here:

https://www.youtube.com/watch?v=f9wTZzNk1ro

Transcript

This topic is for continuing discussion related to the network discussion. Any follow up questions or clarifications may be tracked here.

For discussion related to the CHIP please comment on the CHIP discussion thread https://bitcoincashresearch.org/t/chip-2021-02-group-tokenization-for-bitcoin-cash/311

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#2

Logging my questions that I asked during the live discussion session:

Q1: There are currently something like 384,000 token contracts listed on Ethereum alone. Clearly the “demand” for tokens is very large.
Some amount of state tracking will need to be done for GROUP.
I did not find much information about how the storage impacts of this state, and possible architectural implications or design suggestions for doing this.

Q2: Also, have performance tests been run with GROUP - possibly a simplified / limited phase 1 scope - on something close to BCH (my understanding is NextChain already diverges in several other points, but perhaps performance tests there could also offer some insight). I just haven’t seen much published on that, so I’m asking where to look.

EDIT: I realize my Q1 is not very clear about what the actual question is there (it’s implied). To clarify: how much storage per token? and is there a lower bound, model for projected token storage size, and upper bound?

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#3

I think Andrew answered my questions well, I will soon add in a transcript of the answers here.

But for now, anyone can watch the video to see the responses, and also the answer to Jonathan Silverblood’s question which was raised soon after mine, but also addressed the state question.

Kudos to Andrew, Calin, im_uname and others for the helpful discussion.