SmartBCH SHA-Gate status?

I've seen a lot of excitement for SmartBCH in this community and I'm actually quite surprised that there is almost 50k (49353 at the time of writing) BCH locked in already: https://smartbch.fountainhead.cash/grafana/d/GUnTOBGnz/smartbch?orgId=1&refresh=5s

One thing that worries me is that I don't see many discussions on the miner enforced bridge (a.k.a. SHA-Gate) that is supposed to be deployed. Before a trust-less bridge is in place I don't consider SmartBCH as "available" since it currently violates the most basic principle of cryptocurrencies due to the custodial nature of the funds. Do I miss a channel of communication?

There is some documentation here: https://docs.smartbch.org/smartbch/sha-gate

There is a git repository here that contains a more updated covenant (v1) that hasn't been touched in a month: https://github.com/smartbch/shagate

The most pressing question that I have is who/what will the operators be? They are the entities that authorizes any withdrawal from the side chain back to BCH. Will there be exactly three? How are they chosen? Will their identities be public?

Another question is regarding miner participation. Currently 28.08% of all miners (ViaBTC, BTC.com and Bitdeer) participates in the election of the SmartBCH validators: https://smartbchpow.com/and I assume they would also participate in the SHA-Gate withdrawal voting. Has any other mining pool commited to SmartBCH? Considering AntPool mines most BCH blocks they would be very crucial to boost the security.

submitted by /u/jldqt to r/btc
[link] [comments]
Quelle: bitcoin-en