Hello we are planning to build our new ecosystem on algorand blockchain.
Our goal is to release a utility token which can be used for voting and running our private nodes on the co chain.
The second token would be a stablecoin we want to create on the co chain.
The question i got is since the utility token will be used for governance and staking ,node etc on the for the co chain does it need to be created on the co chain directly or can it also be created on the mainnet ?
One first question I have is: why do you want to use a co-chain?
Some points to look at:
What does “running” mean? Do you expect it to have the same role as the Algo on MainNet (the more of the tokens you have, the more power you have in consensus). In that case, this utility token must be on the co-chain.
yes POS voting and a co chain to be able to add additonal privacy depending on the future regulations we will receive for our project.
Is there any date when the co chain will be officaly implemented ?
So if i create our utility token xyz do i also need to create it on the mainnet so a swap can accure when alrogrand finished working on co chains ?
Another question we have is that we plan to create a second token on co chain which will be a security token with a specific feature that it deducts daily a small percentage of its coin amount to receive a yearly 2% fee automaticly not important who holds the coin.
Will such a coin have the possibility in the near future for a swap to mainnet ?
up . (writing to get more characters)
There is currently no official announccement.
Since co-chains are not fully specified, it is not completely clear what the best option is.
If you create a private network now, you may need to reset it completely to make it a co-chain. This is not an issue as you can always make a snapshot of a private network and use it as genesis of another private network / co-chain.
It depends a lot on the way it is implemented.
I guess that there may be a way to make it compatible.
See Distribute participation reward to ASA - #2 by fabrice
But since co-chains are not yet available, it is hard to know whether it would be possible.
Any update when Co Chains will go live ?
Anyone have any information on it ?
pushing question up to top
Have you considered using encrypted voting as outlined in the vote coin standard and implemented in open source apps?
I believe this type of voting can be used even in government or municipal elections on algorand mainnet.
At aramid we have 1) created paralel algorand chain and 2) it is technically to bridge assets between algorand blockchains … However all aramid soldiers must have access to the “private” chain so it would not be very private
I believe that algorand inc is investing time more on working on decenralizing relay or incentivizating the participation node runners, than working on “co-chain” support… It is because algorand can easily handle basically any traffic that there is right now and they do not need to scale with shards way… Algorand is scalable more then enough now.
My answer above still holds:
There is currently no official announcement.