Paul Archives - Page 2 of 33 -
On September 24, the director of research at Tierion and the bitcoin developer Paul Sztorc announced the launch of the first Drivechain release. The Drivechain protocol is an alternative to the sidechain concept because it enables multiple blockchain compatibility but the system utilizes the same 21 million bitcoins.
Testdrive: The First Drivenet Test Release
This week Paul Sztorc has unveiled the first release of his open source project Drivechain, a protocol that allows a variety of alternative blockchains to work in unison with the BTC network. A Drivechain is similar to the sidechain concept initiated in 2014, but Drivechain works with other blockchain networks so they all agree with Nakamoto consensus and share the same 21 million bitcoin ruleset. Satoshi also vaguely discussed the idea of sidechains and multi-blockchain connectivity on June 17, 2010. Sztorc’s Drivechain system claims to allow permissionless innovation without diluting the value of the main cryptocurrency. Because a Drivechain is aligned with Nakamoto consensus it offers the security of the network but with an expanded set of services like smart contracts.
Sztorc has been working on the Drivechain project for quite some time now, and last December we reported on the two Drivechain BIP proposals Sztorc submitted for review and feedback. This week Sztorc explains he is pleased to announce the first Drivechain version called Testdrive and notes that the release is in two parts.
“Testdrive is our first drivenet test release — It certainly isn’t perfect — We are still working on it,” Sztorc writes in the Drivechain release announcement.
The developer continues by emphasizing:
Nonetheless, it’s good to be able to show people what exactly Drivechain does: it allows Bitcoin to travel among different pieces of software.
Expanding on Top of the Mono-Chain Without Controversy and in a Permissionless Fashion
Sztorc further details that if the “multi-network coin” concept is practical it could change a lot of things within the cryptocurrency ecosystem. It could theoretically squash consensus upgrade feature infighting and political discourse by allowing permissionless innovation.
“Bitcoin would be able to copy, without controversy, any technology, including: larger blocks, Turing-completeness, and ring signatures,” Sztorc details in the Drivechain announcement.
In some earlier writings, Sztorc has explained some of the issues with the ‘mono-chain setup.’ The developer details that the technology comes with economic trade-offs but only one group can have their choice of the most optimal feature. Other token features could be implemented to the main protocol without years of disagreements.
“Bitcoin is supposed to be used as money, but if it cannot be used on some networks, it is constrained as a medium of exchange – and therefore at a competitive disadvantage,” Sztorc notes on the Drivechain website.
Lastly, is not just an exclusive project for BTC. Sztorc explained today that Drivechain could also be integrated to work with the Bitcoin Cash (BCH) network.
“Furthermore, due to our use of a “UTXO loader”, it will be very easy to release a version for BCH users — Unlike most people, I’m happy to be agnostic in this regard — Let the users exercise their sovereignty,” Sztorc explains on Twitter.
What do you think about Paul Sztorc’s Drivechain? Let us know what you think about this project in the comment section below.
Images via Shutterstock, Pixabay, and Twitter.
Now live, Satoshi Pulse. A comprehensive, real-time listing of the cryptocurrency market. View prices, charts, transaction volumes, and more for the top 500 cryptocurrencies trading today.
The post Developer Paul Sztorc Launches the First Version of Drivechain appeared first on Bitcoin News.
KSI says Logan Paul would be out of his damn mind to try and land a real UFC fight … telling TMZ Sports the YouTube superstar would “get f*cked” in the Octagon. We spoke with KSI — who fought Logan in a YouTube superfight last month (which ended…
Paul John Vasquez — who played a bunch of minor roles in huge TV shows, including “Sons of Anarchy,” “NYPD Blue” and “CSI: NY” — has died … TMZ has learned. Sources close to Vasquez tell TMZ … Vasquez died Monday night from an apparent heart…
George Cheeks and Paul Telegdy are named co-chairmen of NBC Entertainment; Bob Greenblatt immediately departsSeptember 24, 2018 | dailybusinessnews
Two veteran NBC executives — George Cheeks and Paul Telegdy — were named co-chairmen of NBC Entertainment on Monday, replacing Bob Greenblatt at a time of upheaval in network television.
Greenblatt, who has been NBC’s top programmer for nearly eight years, approached his boss, NBCUniversal Chief…
Every family has their political differences … but this is on another level. Rep. Paul Gosar is Arizona’s Republican Congressman for the state’s Fourth District, but he’s up for reelection in November and he’s got a bit of an issue — 6 of his…
The former Trump campaign chairman was convicted of eight charges related to tax and bank fraud, in the first trial to stem from Special Counsel Robert Mueller’s investigation.
WSJ.com: What’s News Asia
Paul Manafort, the longtime political operative who for months led Donald Trump’s winning presidential campaign, was found guilty of eight financial crimes Tuesday in the first trial victory of the special counsel investigation into the president’s associates. A judge declared a mistrial on 10 other counts the jury could not…
Wanna see Logan Paul throw fists at his brother, Jake Paul?? Well, better hope for a crappy Thanksgiving in the Paul household. Logan tells TMZ Sports the ONLY way he’ll step in the ring with his YouTube star little brother is if the two have…
Jake Paul ain’t just training for his superfight with YouTube star Deji by pummeling his friends in his living room boxing ring … he tells TMZ Sports he’s getting LEGIT coaching from ”Sugar” Shane Mosley too! We got the Internet sensation…
When President Trump was taking all kinds of flak after his meeting with Vladimir Putin last month, one of his most vocal defenders was Rand Paul, who praised the president for working to “prevent us from having World War III,” per CBS News . On Monday, the Kentucky senator engaged in…