Author: Tao Effect 2017-10-10 01:02:38
Published on: 2017-10-10T01:02:38+00:00
In the argument over Drivechain, Greg Slepak has proposed a generic sharding protocol that can be applied to all blockchains including Bitcoin. The idea is simple and fully decentralized where users burn their coins on Chain A and create a minting transaction on Chain B. Verification of this action can be done easily by thin clients, nodes, and miners. The protocol requires minimal modification to the Bitcoin protocol as most verification is done client-side. This proposal offers better scaling without sacrificing security and eliminates the need to give ownership of coins to miners. Greg Slepak admits that the idea is not novel and may have been proposed earlier in various forms such as Interledger.
Updated on: 2023-05-20T04:08:48.380094+00:00