THELOGICALINDIAN - Bloq software developer and Hivemind arch scientist Paul Sztorc has afresh submitted Bitcoin Improvement Proposals BIP for so alleged Drivechain technology Sztorc has been steadily alive on the agreement which enables sidechain technology area assorted blockchain networks can affix to the Bitcoin blockchain
Also Read: NYU Plans to Launch an Undergraduate Course in Cryptocurrencies
Drivechain Vaguely Escaping Vaporware Status
Paul Sztorc has submitted two BIP proposals for the bitcoin agreement that involves the ‘Drivechain’ protocol. Drivechain technology can be angled into the arrangement abacus the adeptness to apparatus free sidechains and new mining appearance that are tethered to the bitcoin protocol. Sidechains are basically another blockchains or networks that can do chic things like accomplish acute affairs or action blocks faster. But instead of actuality an altcoin the another arrangement is advised to assignment with the bitcoin protocol’s aphorism set and bolster the bitcoin network. Now Sztorc explains Drivechains accept become added than aloof a aqueduct dream as he congenital the codebase.
“First, Drivechain has vaguely able vaporware status,” explains Sztorc this week.
Hashrate Escrow and Blind Merged Mining
Sztorc additionally capacity there are some amateurish elements to the Drivechain codebase, but he is still requesting a cipher analysis from peers. The two BIPs the developer submitted circumduct about what’s alleged ‘hashrate escrow’ and ‘blind alloyed mining.’ A hashrate escrow is a abstraction that is agnate to a 2-of-3 multisignature escrow, but the third affair is a accumulation of miners. Instead of signing a transaction with a clandestine key the miners can assurance it by dedicating hashpower.
Blind Merged Mining (BMM) is a blazon of mining adjustment that uses sidechains or ‘extension blocks.’ “It produces able guarantees that the block is valid, for any approximate set of rules; and yet it does so after acute miners to absolutely do any validation on the block whatsoever — BMM absolutely is a action that spans two or added chains,” explains the Github proposal.
Are New Features Coming to the Bitcoin Network Next Year?
The developer believes the Github documentation and BIP-drafts are “tolerably readable” and asks the developer Lukejr to accredit academic BIP numbers to the proposals. The BIPs additionally appear at a time back the Lightning Network is actuality consistently tested, Rootstock (RSK) is ablution soon, and diminutive bandy technology is actuality built. Abounding bodies accept sidechain technology like Sztorc’s Drivechain could abolish the charge for abounding of the altcoins in actuality today. If protocols like these and Sztorc’s Drivechain alms gets implemented into the bitcoin blockchain — Bitcoiners may see some new appearance in the abreast future.
What do you anticipate about Paul Sztorc’s Drivechain and the abstraction of sidechains? Let us apperceive in the comments below.
Images via Shutterstock, RSK, and Twitter.
Want to actualize your own defended algid accumulator cardboard wallet? Check our tools section.
