Softchains Bring Two-Way Pegs And Potential Room For Use Cases — But Not With...
Softchains are a sidechain implementation that interact on a deeper level with consensus mechanisms, which can bring benefits and risks.This is an opinion editorial by Shinobi, a self-taught educator in the Bitcoin space and tech-oriented Bitcoin podcast host.In this next piece looking at different sidechain implementation designs, we're going to go through softchains. This is another one of Ruben Somsen's proposals for a sidechain mechanism. This differs heavily from spacechains, the design covered in my previous article. It requires a specific change to the Bitcoin Core protocol....
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Ruben Somsen joined "The Van Wirdum Sjorsnado" to discuss the pros and cons of his softchains proposal. The post Discussing Bitcoin Softchains, Sidechains Using PoW Fraud Proofs appeared first on Bitcoin Magazine.
Drivechains, like softchains, are another sidechain implementation with two-way peg functionality.
The pilot project will last a year, and the details for potential participants will be published in the next few months. The Reserve Bank of Australia weighs in the central bank digital currencies (CBDCs) race to explore use cases for a CBDC in the country. It will collaborate with the Digital Finance Cooperative Research Centre (DFCRC) on a respective research project. As stated in an announcement from Aug. 9, the joint project of the Reserve Bank and DFCRC will focus on “innovative use cases and business models” that could be supported by the issuance of a CBDC. The technological, legal....
Josh Katz said that ticketing is one of the most compelling use cases for NFTs as it can prevent fraud. While some refuse to adopt nonfungible tokens (NFTs), others are finding ways to realize the potential of NFT technology to solve real-world problems.In an interview with Cointelegraph, Josh Katz, CEO of NFT marketplace YellowHeart, shared his thoughts on using NFTs in ticketing, what the NFT space will look like in the future and whether NFTs can eventually surpass crypto in popularity. According to Katz, ticketing is one of the most compelling use cases for NFTs. Citing the UEFA....
As Bitcoin grows in popularity, more use cases for the cryptocurrency pop up every day. This time, an Australia-based startup has created a service that allows citizens in the country to pay their household bills with Bitcoin. Paying Bills with Bitcoin. Dubbed the Living Room of Satoshi, the Australian startup allows users to pay their bills with Bitcoin by entering the details of the payment, choosing a payment system (bank account or BPay) and sending their coins to the BTC address shown. Yesterday Living Room of Satoshi tweeted: The Living Room of Satoshi’s new service supports payment....