Author: Paul Sztorc 2017-05-22 16:19:14
Published on: 2017-05-22T16:19:14+00:00
Paul Sztorc, a Bitcoin developer, has been working on "drivechain", a sidechain enabling technology that allows for the addition of soft forks. Each chain will have its own block space, theoretically removing the block size limit from the Bitcoin system. Thus, this upgrade may put an end to the scalability debate. The work includes the relatively new concept of "Blind Merged Mining" (BMM) which allows SHA256^2 miners to merge-mine these "drivechains", even if they aren't running the actual sidechain software. BMM is not required for drivechain, but it would address some of the last remaining concerns. In a recent email correspondence with ZmnSCPxj, Paul explains how his proposal is more secure and operates healthily while using SPV proofs which are much slower and easier to audit. The proposal would have significant scaling implications as people who want a LargeBlock bitcoin can just move their BTC over to such a network. The proposal would not require a hard fork and could almost immediately add any amount of extra blockspace. Paul is pessimistic about conversations involving scalability, and says that Bitcoin scalability conversations seem to drain 50 points off IQ.
Updated on: 2023-06-12T01:00:54.068454+00:00