I’m new on block stack and I’m trying to figure out how it is integrated with the underlying blockchain (Bitcoin right now). Is it possible to move Bitcoins to Blockstack and vice-versa? Is it 1-way peg or 2-way peg? Is it possible for an user to sell his data? What tokens will be used to secure the transaction?
I don’t know what value proposition blockstack has in front of other technologies like RSK or (coming) Plasma implementations since these technologies will provide similar benefits but with the advantage of move tokens between blockchains.
@albpal Good questions! Let me try to take these one at a time:
Blockstack is built on Bitcoin and natively uses bitcoin for all operations in the system. We have a BTC wallet in the browser. If you are asking about the possibility of doing swaps between chains, then that is a feature we may have in the future, but currently Blockstack runs as a Virtualchain on top of BTC main chain.
It will be soon! Currently the Blockstack storage (Gaia) layer doesn’t really allow for selling files. We some features we will be shipping soon that are needed to enable that. Once that feature is enabled you would be able to use any type of currency to remunerate the seller.
Blockstack is primarily focused on being an application platform, not on facilitating value transfer. So these technologies are tangential to what we are doing.