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

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

During the previous couple of days, numerous cryptocurrency supporters have been discussing Paul Sztorc’s Drivechain challenge, additionally known as “Drivenet.” The Drivechain challenge 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 Light tweeted “Running Drivenet” on Twitter, letting the general public know concerning the utility’s “necessary advantages.”

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

The Bitcoin supporter, John Light, tweeted about Drivenet on Wednesday. Similarly to Hal Finney’s 2009 tweet that mentioned: “Running Bitcoin,” Light tweeted:

Running drivenet

— John Light (@lightcoin) June 29, 2020

Light 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, Light determined to ship some cash to a second sidechain, which additionally confirmed. “This is the place the magic occurs: withdrawing funds from the sidechain again to the mainchain,” Light wrote.

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“My withdrawal [transaction] has been included in a bundle of sidechain [transactions] ready to get transferred to the required addresses on the mainchain. If mainchain miners ‘upvote’ this bundle in 140 of the subsequent 300 blocks, the switch will full. Currently at 27/140 upvotes required. Mainchain standing: Spent. [The] Sidechain withdrawal went by means of. Thank you testnet miners for not censoring or stealing my cash,” Light 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. This may be very thrilling to me. When Drivechain mainnet?

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

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

People who’re excited by Drivechain can learn concerning the challenge’s specs and accompanying literature on the challenge’s internet portal drivechain.information. After John Light instructed his 8,900 Twitter followers that he was working Drivenet, a person requested Light “What types of use instances and advantages do you foresee for Drivechain versus Lightning?” Light responded and mentioned that’s a “good query.”

“[In my opinion] Drivechains have three necessary 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,” Light mentioned.

During the previous couple of months, bitcoiners have observed that Ethereum has dominated as Bitcoin’s (BTC) essential sidechain. Despite belief mannequin debates, there isn’t any denying Ethereum’s present function and the variety of artificial bitcoins being transferred and saved throughout the chain.

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Additionally, the federated sidechain deployed by Blockstream has been a controversial subject in current days too. The cause for the competition about Bloskstream’s Liquid sidechain, is as a result of the founding father of the Summa challenge, 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 challenge? Let us know what you consider this topic within the feedback part beneath.

The publish ‘Running Drivenet:’ Bitcoin Proponent Discusses the Benefits of Drivechain Versus Lightning Network appeared first on Bitcoin News.

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