First Release Annoucement for Drivechain

Sidechains are an interesting application that could be applied to Bitcoin to make the network much more different than it is today, for one it could provide everything similar to an Altcoin without actually needing an Altcoin chain, they also allow Bitcoin to be fully programmable but with an opt-in solution, as you can choose whether you want to support a certain sidechain or not without affecting your Bitcoin compatibility.

Paul Sztorc, director of research at startup Tierion, first released the idea of Drivechain in November, 2015. Back then the main problem was having a two-way peg that allows any user to efficiently trade his on-chain Bitcoin to side-chain Bitcoin that could be redeemed for other tokens, transferred in faster blocks or used in any other application made possible by this sidechain.

Just a few days ago, an initial release of Drivechain was announced by Paul, this release forks Bitcoin Core into a 16.99 release that is modified to support Drivechain with other features like a new PoW algorithm, a faster UTXO loader and one-way replay protection.

Paul hopes that if the idea of multi-network coin is found viable, it should help Bitcoin copy any other technology without controversy, adding larger blocks, Turing-completeness and ring signatures without going through a political process like any other fork would.

Testdrive, drivenet’s first test release is currently available for you to try, drivechain’s blog also includes a small guide for you to see what the software can do.

Try it out and share your experience !

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