Drivechain allows BTC to travel to other software applications, and back. With DC, Bitcoin-owners can use their BTC on Ethereum-clones, BCH-clones, Monero-clones, etc.
Among other things, it allows BTC (the coin) to automatically recover from Product-Market-Fit errors.
Good Recent Interviews
- 51 Minutes (0:26:00 to 1:17:40) during an Oct 14 Whalepool Talk on Bitcoin, Drivechain, and Hivemind
- Let’s Talk Bitcoin – Episode #377
Go here for a guide on downloading and using this software. It has screenshots to help walk you through the process.
Critiques and Controversy
Drivechain is made of two technologies:
- Hashrate Escrow – A “Container UTXO” that compresses 3-6 months of blockchain data into a fixed 32-bytes.
- Blind Merged Mining – Replaces the act of running a sidechain node with the act of including a single high-fee transaction.
Please read the FAQ!
BIPs and Code Documentation
Drivechain is so big it actually fits into two BIPs over three files:
- BIP pull requests, #642 and #643.
- The “big diff” (our code changes from Bitcoin Core) – now broken down by [ignorable] UI changes and [important] non-UI.
Problems With Today’s Mono-Chain Setup
- Blockchain technology has economic tradeoffs, and users disagree over the optimal tradeoff. But only one group can have their way at a time.
- Bitcoin investors must worry about competition from other projects (Ethereum, Z-Cash, Ripple).
- Satoshi, creator of Bitcoin, wanted to support many transaction types, but knew that his design was prohibitively inflexible.
- 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.
Instead, sidechains are alt-chains that all use the same Bitcoin token. They start with zero coins; they accept Bitcoin deposits, conduct Bitcoin transfers, and finally dispense Bitcoin withdrawals.
- Permissionless Innovation: Anyone can create a new blockchain project, without facing the (near-impossible) task of also bootstrapping a new unit of money.
- Eliminates Competition: Bitcoin will always have the best code, because it can copy any code that exists.
- Freedom to Choose: Satoshi’s consensus protocol requires everyone to agree on everything, down to the very last byte. Sidechains allow users to choose which benefits they would like to pay for.
- Anti-Scam: SCs filter out get-rich-quick schemes (the ‘get rich’ part is now impossible). Therefore, good projects can stand out and receive our attention.
- Faster Progress: SCs let us test new features. The tests are safe – if these features fail, they won’t take down the main network. However, the tests are also informative – real BTC is on the line.
Email: truthcoin /at/gmail/
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