I am working on tokenised securities space. Our plan is to run tokenised securities on a public Ethereum blockchain.
There is an operational risk that public blockchain becomes unavailable and transaction do not go through (consensus issue, EVM level denial of service, other).
As a contigency plan to guarantee against operational risks (risks of financial loss resulting from failed processes) I'd like to have a backup chain where everyone can switch over if the Ethereum mainnet failures. This would be a permissioned chain were a single authority will have control over blocks until the mainnet issued are resolved.
I'd like to know
What are the options of taking the current chain data and then start a cloned network with a different chain id and consensus algorith (proof-of-authority)
Has somebody tried this before
Then there has to be a way to rerun all transactions on a private chain back to public chain smart contracts, but this is smart contract programming as usual