‘Operating Drivenet:’ Bitcoin Proponent Discusses the Benefits of Drivechain Versus Lightning Network


Throughout the previous few days, a quantity of cryptocurrency supporters have been discussing Paul Sztorc’s Drivechain mission, additionally known as “Drivenet.” The Drivechain mission has been a piece in progress for years now, and only recently Sztorc revealed a brand new model of the Drivenet software program. On June 29, the Bitcoin proponent John Gentle tweeted “Operating Drivenet” on Twitter, letting the public learn about the software’s “vital advantages.”

Throughout the final 5 years scaling ideas, offchain networks like Lightning, and sidechains have been each scorching and controversial matters. This week, a quantity of bitcoiners have been discussing Paul Sztorc’s Drivechain and the platform Drivenet.

The Bitcoin supporter, John Gentle, tweeted about Drivenet on Wednesday. Equally to Hal Finney’s 2009 tweet that stated: “Operating Bitcoin,” Gentle tweeted:

Gentle detailed how he synced the platform and obtained testnet tokens from a faucet. He then despatched some cash to a sidechain and after syncing up his sidechain node, the deposit confirmed. Following the confirmed deposit, Gentle determined to ship some cash to a second sidechain, which additionally confirmed. “That is the place the magic occurs: withdrawing funds from the sidechain again to the mainchain,” Gentle wrote.

“My withdrawal [transaction] has been included in a bundle of sidechain [transactions] ready to get transferred to the specified addresses on the mainchain. If mainchain miners ‘upvote’ this bundle in 140 of the subsequent 300 blocks, the switch will full. Presently at 27/140 upvotes required. Mainchain standing: Spent. [The] Sidechain withdrawal went via. Thanks testnet miners for not censoring or stealing my cash,” Gentle tweeted. The Bitcoin proponent additional tweeted:

To recap: I despatched some testnet cash from a modified bitcoin testnet to a Drivechain-based sidechain. I despatched some sidecoins to myself. I withdrew the sidecoins again to my mainchain handle for a full spherical journey. That is very thrilling to me. When Drivechain mainnet?

Drivechain has been a preferred mission for fairly a while, and lots of builders have been working in stealth mode messing round with the Drivenet software program. The builders have a vigorous Telegram chat channel, the place Sztorc and lots of others take a look at and focus on the Drivechain mission. Sztorc launched a brand new model of Drivenet on June 23, 2020.

“A brand new model Drivenet. (Mainchain v33, Sidechain v06) has been launched,” Sztorc tweeted. “Sidechain mining now simply includes clicking a button, there’s additionally a very nice “Withdrawal Explorer” GUI now, [and] tons of UX and sidechain withdrawal-logic enhancements.”

People who find themselves fascinated with Drivechain can examine the mission’s specs and accompanying literature at the mission’s net portal drivechain.data. After John Gentle informed his eight,900 Twitter followers that he was working Drivenet, a person requested Gentle “What kinds of use instances and advantages do you foresee for Drivechain versus Lightning?” Gentle responded and stated that’s a “good query.”

“[In my opinion] Drivechains have three vital advantages vs [Lightning Network]: No scorching pockets requirement, no channel limitations, and never constrained in performance by mainchain consensus guidelines. One use case I’m excited to see is a zcash-like totally encrypted sidechain utilizing Drivechain,” Gentle stated.

Throughout the previous few months, bitcoiners have observed that Ethereum has dominated as Bitcoin’s (BTC) foremost sidechain. Regardless of belief mannequin debates, there isn’t a denying Ethereum’s present function and the quantity of artificial bitcoins being transferred and saved inside the chain.

Moreover, the federated sidechain deployed by Blockstream has been a controversial matter in latest days too. The explanation for the rivalry about Bloskstream’s Liquid sidechain, is as a result of the founder of the Summa mission, James Prestwich, defined on Twitter that the emergency 2-of-Three managed 870 bitcoin “violates Liquid’s safety mannequin.”

What do you consider the Drivechain mission? Tell us what you consider this topic in the feedback part beneath.

Tags on this story
Bitcoin (BTC), BTC, Cryptocurrency, Drivechain mainnet, Drivenet, John Gentle, Lightcoin, lightning community, Liquid, ln, Mainchain, Offchain, Paul Sztorc, sidechains

Picture Credit: Shutterstock, Pixabay, Wiki Commons, Twitter

Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a proposal to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the firm nor the writer is accountable, straight or not directly, for any injury or loss precipitated or alleged to be attributable to or in reference to the use of or reliance on any content material, items or companies talked about on this article.

Learn disclaimer

Source link Bitcoin News


Be the first to comment

Leave a Reply

Your email address will not be published.