When a cryptocoin changes algorithm (eg. scrypt to X11), how does one achieve the merging of the two blockchains?
I'm assuming that they couldn't be directly compatible based on being completely different algorithms, it would cause a loadBlock()
error. They also couldn't just make two blockchains, as all of the scrypt mined coins would be unspendable on the x11 blockchain and vice versa.
I have seen instances of crypto developers having a v1 to v2 exchange (usually at some ratio like 0.8:1), however that would require the v2 blockchain to have a premine for the conversion distribution.
Hopefully I'm not too far off on my thoughts here, any clarification would be greatly appreciated.
I should specify that by merging I don't mean running both algorithms on one coin (saffron-style), I mean how to implement something along the lines of
if blockNumber <= (maxScryptBlock) do
{block.readHash(scrypt);
}
else if blockNumber >= (maxScryptBlock) do
{block.readhash(x11);
}
I can't seem to find any writings anywhere on how a developer makes the switch from one algorithm to another, or really any for cloning any non-scrypt/sha256 coin.