If we want a localchain to be able to supply proof of all balance changes at some point, it would help to have a chain of hashes that makes it impossible to forge a history. This would either need to be a merkle of all notes or all balance changes that you supply each time.
NOTE: the history is already available and secure per notary change, as long as its audited.. The challenge is you have to show proof of every root to a peer if you want to show your full history. This would be an alternative way to show your proof (assuming you trust that the merkle history root is providing an audited unbroken chain). The root would be locked into every balance change, and each change would need to be able to audit that it was legitimate.
If we want a localchain to be able to supply proof of all balance changes at some point, it would help to have a chain of hashes that makes it impossible to forge a history. This would either need to be a merkle of all notes or all balance changes that you supply each time.
NOTE: the history is already available and secure per notary change, as long as its audited.. The challenge is you have to show proof of every root to a peer if you want to show your full history. This would be an alternative way to show your proof (assuming you trust that the merkle history root is providing an audited unbroken chain). The root would be locked into every balance change, and each change would need to be able to audit that it was legitimate.