Bitcoin Takes a Step Toward Becoming a 'Multi-Network' Cryptocurrency
A long-in-the-works proposal heralded as the best way to bring sidechains to bitcoin has released its first code after three years in development.
A proposal to radically expand the capabilities of bitcoin such that it would be able to add vast new features to its limited supply of cryptocurrency has arrived on testnet.
Paul Sztorc, director of research at startup Tierion, revealed to CoinDesk that a test version of the code is to be announced Tuesday, a development that comes nearly three years after the idea was first conceived in November 2015. Since then, momentum has built for the proposal, now hailed as perhaps the best way to implement sidechains on bitcoin.
, the sidechains concept promises to enable the creation of branches on the bitcoin network that would function in a way not too dissimilar from ethereum tokens, in that crypto assets in these channels would, in effect, be able to be custom programmed.
Sztorc wrote in the blog post:
That said, Sztorc said today's release "isn't perfect," but marks the first code release for the concept.
Still, he added: "It's good to be able to show people what exactly Drivechain does."
Continuing, Sztorc framed Drivechain as code that, if eventually added to bitcoin, would free bitcoin developers from perhaps their biggest long-standing problem, the inability for new features to be added without changes to the incentives of the blockchain itself (Drivechain could be implemented as a soft fork).
More details can be found in the full blog post.
Paul Sztroc image via CoinDesk archives
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