Author: Paul Sztorc 2017-06-20 11:54:52
Published on: 2017-06-20T11:54:52+00:00
The bitcoin-dev mailing list has been engaged in a discussion about the potential risks and benefits of implementing a drivechain. A drivechain is a sidechain that allows for experimentation and innovation while still being secured by the bitcoin network. The participants are concerned about the potential for miner control and power over the sidechain coins and the security of the mining network. They discuss the possibilities of classic theft, channel theft, and drivechain theft, and they conclude that all three security models are game theoretic.Moreover, they also discuss the potential for mining centralization and the need to define centralization clearly before complaining about it. Some participants argue that miners may decide to mine both/all chains given their expertise in seeking out cheap sources of power/cooling, rendering the point moot. Ultimately, they recommend biting the bullet and going with merged mining instead of trying to prevent the same POW as bitcoin in a drivechain.However, there are concerns that implementing Drivechain would limit the user's choice when it comes to selecting a custodian for their bitcoins, reducing options from any trustworthy exchange to a single mining cartel under the control of a single set of laws. Currently, no P2P sidechains exist, and the emphasis on "exchanges" as opposed to sidechains seems dubious. The ecological impact of exchanges compared to sidechains is also unclear.Overall, the discussion highlights the potential limitations and implications of implementing Drivechain. The participants are exploring various scenarios and weighing the pros and cons of each option. They recognize the importance of ensuring that any changes made to the bitcoin network do not compromise its security and integrity. As such, the discussion continues, and further insights and perspectives are expected to emerge as the conversation evolves.
Updated on: 2023-06-12T02:15:37.163697+00:00