Bitcoin takes a step towards the transformation of a "multi-network" cryptocurrency


A proposal to radically expand the capabilities of bitcoin in such a way as to be able to add new and broad functionalities to its limited cryptocurrency offer has arrived on the testnet.

Paul Sztorc, director of research at the startup Tierion, revealed to CoinDesk that a trial version of the code will be announced on Tuesday, a development that comes almost three years after the idea was conceived for the first time in November 2015. Since then, the momentum has the proposal, now hailed as perhaps the best way to implement the sidechain on bitcoins.

Described for the first time in 2014, the concept of sidechains promises to allow the creation of branches on the bitcoin network that would work in a way not too different from the ethereum tokens, since the cryptographic resources in these channels would, in fact, be able to to be tailored.

Sztorc wrote in the blog post:

"If this idea of ​​'multi-network currency' is held to be valid, it has profound implications for the most salient problems of the crypto. Bitcoin would be able to copy, without controversy, any technology, including: larger blocks , completeness of Turing, and ring signatures. "

That said, Sztorc stated that today's release "is not perfect", but marks the first release of code for the concept.

Still, he added: "It's nice to show people what exactly Drivechain does."

Continuing, the Drivechain coded by Sztorc as a code that, if added to the bitcoin, would free bitcoin developers from perhaps their biggest problem of old, the inability to add new features without changing the incentives of the blockchain itself ( the Drivechain could be implemented as a soft fork).

Sztorc writes:

"There would be no need to fight on what bitcoin features you should have (or what features to define & # 39; bitcoin)."

More details can be found in the complete blog post.

Image of Paul Sztroc through the CoinDesk archives

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