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Is it likely that side-chain support will be added to Bitcoin? As I understand it, side-chain support will require a hard fork to Bitcoin to support this functionality:
- "moving" BTC to external blockchain-based currencies,
- for each of these currencies, keeping a counter of how much BTC has been moved to that currency, and
- allowing BTC to be moved back into the Bitcoin blockchain (which decrements the counter).
Part #1 is (and has been) supported without a hard fork, using addresses like 1BitcoinEaterAddressDontSendf59kuE , but part #3 is critical for side-chain support and requires a hard fork.
I understand that it will be extremely difficult to have a hard fork on such a large cryptocurrency. What is the likelihood that it can be done?