and for a burn process … well … nodes do have connection to the EVM network anyway … so one could utilize that for validating the genesis event (there’s just the question how we get rid of that evm dependency then again later on … but maybe there could be a cutoff event and after that all valid burn TXs get stored to one gigantic immutable blob stored on the network) …
- there is a genesis mint object that needs to be referenced as parent.
- the owner could be derived from the burn TX hash (known by the burner before the burn but nobody else)
- content is then the burned amount I guess that gets transferred
- descendants is where the burn gets transferred to.
- signed again by the secret key derived from the burn TX hash combined with the parent object which is the genesis mint (so for every burn + genesis object there would be just a single valid combination)
nodes could verify that and without a valid burn the coin wouldn’t be valid … the question then is how to identify (in)valid coin when they have moved on without tracking back everything to the genesis event (and validate all involved genesis events on the arbitrum blockchain…) … and how to deal with wrongfully accepted branches of the native token etc etc …