Drivechain

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As BTC and ETH Pursue Multilayer Schemes, Elon Musk Says ‘There’s Merit to Doge Maximizing the Base Layer’

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The CEO of Tesla, Elon Musk, is a fan of base layers when it comes to blockchain technology and on Friday, Musk explained there’s “merit” to the Dogecoin chain “minimizing transaction cost.” Dogecoin developers are in the midst of preparing to update the Dogecoin network by gradually deploying the updates to the network “over multiple … Read more

Tokenized BTC Crosses $1B Notional: Ethereum Cements Role as Bitcoin’s Main Sidechain

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Years ago when the Bitcoin network started suffering from higher fees and congestion, a number of bitcoiners advocated the use of sidechains in order to relieve the main chain’s duties. However, they didn’t realize that the Ethereum network would solidify its role as Bitcoin’s main sidechain during the last year. Five years ago, bitcoiners relentlessly … Read more

Despite Trust Model Debates, Ethereum Is Bitcoin’s Largest Sidechain by Total Value Locked

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The Ethereum network now has more bitcoin held in reserves than the Lightning Network, according to onchain statistics. At the time of publication, Wrapped Bitcoin (WBTC) has close to 4,000 BTC ($34.7M) held in reserves, while the Lightning Network has only 925 BTC ($8.3M). Wrapped Bitcoin Project’s Total Value Locked Climbs to 3.9k Bitcoin Just … Read more

Lightning Network Increasingly Fragile to Attacks – Hope Turns to Drivechain for Bitcoin Scaling

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A report published February 7 and authored in part by Blockstream researcher Christian Decker found that the BTC Lightning Network is “evolving towards an increasingly centralised architecture.” Proponents of LN say this is not a problem, and even critics of the network point to the necessity of properly defining — and not deifying — “decentralization.” … Read more

Without a True Two-Way Peg No ‘Real’ Sidechain Exists, Says Drivechain Creator

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On April 17, the founder of the Drivechain project, Paul Sztorc, published a new blog post concerning the validity of today’s so-called ‘production sidechains.’ Sztorc has declared on multiple occasions that true sidechain technology hasn’t been invented yet and even Blockstream’s Liquid protocol, dubbed “the first production sidechain,” in a critical sense is not a … Read more

Drivechain Creator’s Latest Paper Sparks Debate Over Bitcoin’s Future Security

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Drivechain developer Paul Sztorc has the cryptocurrency community riled up over his latest blog “Security Budget in the Long Run.” The essay discusses the economics of BTC network fees over a long period of time and suggests rather than giving up the fees to competition, a dominant protocol should collect fees “from all networks.” Also … Read more

More Than 30% of BTC Traffic Stems from the Veriblock Project

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Over the last few weeks, a blockchain project called Veriblock whose protocol piggybacks off the Bitcoin Core (BTC) network has sparked debate. More than a quarter of BTC’s transaction numbers stem from the Veriblock system and the project has been criticized for using the blockchain in this manner. Also Read: Orca Pool Mining Operation Aims to Defend … Read more

Drivechain Project Sees an Influx of Development Since Launch

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Software developer Paul Sztorc revealed on Sept. 24 the launch of his first iteration of Drivechain, a sidechain concept that enables a cross-chain consensus validation system based on the proxies of miners. Since then, developers have created a faucet, block explorer, a script install, side-shift transfers, transaction replays, and another chain that resembles the Bitcoin … Read more