Exploring Drivechain, A Miner-Secured Bitcoin Sidechain
In this episode of "The Van Wirdum Sjorsnado," the hosts are joined by Ruben Somsen to discuss the sidechain project Drivechain. The post Exploring Drivechain, A Miner-Secured Bitcoin Sidechain appeared first on Bitcoin Magazine.
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Blockstream has announced it will launch its first commercial Bitcoin sidechain by early 2016. The sidechain, codenamed "Liquid," offers instant transactions, providing a fast settlement layer for bitcoin exchanges, brokerages and other industry members. As its main advantage, Liquid provides instant and secure transactions among all users of the sidechain. While Bitcoin transactions can typically take up to an hour to be sufficiently secured by the blockchain, Liquid offers a similar level of security within seconds. Blockstream, which received a $21 million funding round last year and....
Projects that re-invent the Bitcoin blockchain are “like adding a fifth wheel to a car” and “disrespectful to Satoshi Nakamoto,” says Hivemind and Drivechain founder Paul Sztorc. ‘Giant Graveyard of Projects’. The creator of the two Bitcoin sidechain projects made the remarks about non-Bitcoin blockchains in an interview with Tuur Demeester of Adamant....
Each Bitcoin sidechain implementation brings about different centralization and consensus issues to weigh and consider.