I’d like to run an alternative consensus protocol based on the geth client. Since geth already has a ton of consensus protocols, I was wondering if any coins on the market were able to do the following:
- On the Ethereum blockchain, ether is sent to a smart contract from account A.
- On the alternate blockchain, a coin/token is sent to the same address found in account A. This coin/token is valid only on the other chain.
Such a mechanism would ideally be bidrectional across chains.
What might the challenges be in designing such a system? Such a mechanism could be more difficult to implement if one needed to wait for confirmations.