We are looking for someone to lead the development of a Bitcoin sidechain project using Elements. This project, currently called “Sequentia”, is so far nothing more than a concept, which we’ve described in a whitepaper as well as a theoretical paper; both can be found here.
In a nutshell, the core idea behind Sequentia is a Bitcoin sidechain that is optimized for seamless cross-chain atomic and Lightning swaps with Bitcoin. The intended result is a UX that’s centered around a standard Bitcoin/LN wallet which can be expanded to include tokens issued on the sidechain, and facilitate peer-to-peer swaps between these and BTC by using DEX protocols and platforms; therefore never requiring a ‘representation’ (pegged derivative) of Bitcoin on the sidechain.
To achieve this, there are (broadly speaking) two important changes that need to be made to Elements compared to its implementation in Liquid:
  • Anchoring. A consensus rule requiring every sidechain block to have a reference to a Bitcoin block at an equal or higher height than the Bitcoin block referenced by the previous sidechain block. This means that a reorg on Bitcoin would also cause a reorg on the sidechain, as sidechain blocks would be discarded whenever they contain a reference to an orphaned Bitcoin block.
  • No Coin. There should be no specific transaction fee currency on the sidechain. Thus, users would be able to propose sidechain transactions to Block Signers with the fee expressed as any amount of any token issued on the sidechain. In the most common expected use cases, transaction fees on the sidechain would ideally paid as a fraction of the same asset(s) being transferred on the sidechain. For example, one could have a Sequentia wallet containing only USDT, and use it to perform a p2p swap to acquire BTC. Only in the case of more volatile or less liquid assets (for which Block Signers might have no/insufficient demand), would a user possibly need a second sidechain asset in their wallet in order to pay fees.
In addition to the aforementioned optimization for cross-chain swaps, one of our longer-term goals is to switch out of the Strong Federation consensus model entirely and replace it with a type of modified proof-of-stake mechanism, which we call an “open federation”. This mechanism would be tuned and also further make use of Bitcoin's consensus in order to ensure sidechain persistence/transaction finality (other than in the case of Bitcoin reorgs). Although the Open Federation would use what could be called a “governance token” to distribute membership in the Block Signing federation, this token would nevertheless not be a “coin” in that users of Sequentia would never need it (unless they want to join the Federation).
While there are important reasons why we feel that this is necessary in order to create the most robust sidechain possible (more on this here), we also recognise that it isn’t required for our initial MVP/Proof-of-Concept, as we believe Sequentia would still be of immense value even using if it used a Strong Federation for block creation. Thus, we're perfectly happy with leaving the "opening of the federation" as a potential future post-mainnet upgrade, especially if we can negotiate for Liquid's federation members to also be Sequentia's federation on release.
We do not currently have any funding. But we can offer generous equity compensation to anyone able to contribute their time to the project, up to consideration for a position equal to the two current co-founders.
If you are interested, please email me at andreas@sequentia.io
Are you looking at building this on liquid? Or your own side chain using the elements codebase?
reply
In principle, we're looking to build a new implementation of Elements.
But we're not opposed to bringing some or all of Sequentia's ideas to Liquid, and just joining Blockstream instead of starting a separate company and project.
That said, I'm fairly certain most if not everyone at Blockstream is aware of what we want to do, and while I didn't feel any opposition from any of them, I haven't seen any interest to recruit us either.
Have you looked at Ocean?
Looks like a lot like what you are trying to achieve...
reply
Hey Nicholas, we replied to you explaining some differences in our approach relative to Ocean here : https://twitter.com/albertodeluigi/status/1659522500043186176
But we would be really excited to have a call with you (and Ray if possible!) to compare notes and have some philosophical debates about this topic if you guys are ever up to it. I do see the overlap in our visions and I'm sure we would have a very interesting time together if nothing more.
Hey Andreas,
Just wanted to drop you a line to express my interest in the Lead Developer gig for the Sequentia Bitcoin sidechain project. You know, the one advertised not too long ago.
With my years of experience in blockchain tech and a deep dive into Bitcoin sidechains, I'm really pumped about Sequentia's potential and how I can help it thrive.
Your vision for Sequentia totally clicks with my skillset and goals. I'm particularly intrigued by optimizing cross-chain atomic swaps and Lightning swaps with Bitcoin, something I've been working on and researching for a while now.
Those technical challenges you mentioned, like the anchoring consensus rule and the "No Coin" transaction fee model? Those are my jam. In my previous projects, I've tackled many tasks that give me the chops to take on these head-on.
And let's not forget the long-term vision of an open federation consensus model. That innovative approach aligns perfectly with my belief in how blockchain governance and consensus mechanisms should evolve. I'm thrilled at the prospect of contributing to that aspect of Sequentia's development.
I understand Sequentia is still young and funding hasn't been secured yet. I'm open to equity compensation and even the possibility of a co-founder role, considering my commitment and potential contributions to the project.
I'd love to chat with you and see how my skills and experience can help Sequentia flourish. I'm available for an interview whenever works best for you. Just shoot me an email at or give me a ring at.
Thanks for considering my application. I'm excited about the potential of contributing to Sequentia, a truly innovative project.
Best, elysia