Builders are competing to convey ZCash privateness performance to a Bitcoin sidechain. To do that, they’re utilizing the Drivechain know-how create
Builders are competing to convey ZCash privateness performance to a Bitcoin sidechain. To do that, they’re utilizing the Drivechain know-how created by decentralized prediction market pioneer, Paul Sztorc. As an added incentive, Sztorc has introduced a prize fund of as much as 6.1 Bitcoin (BTC). This bounty will scale back barely if not claimed by midnight EST on Might 1.
Drivechain provides altcoin performance to BTC
Drivechain is an implementation which permits for the creation of Bitcoin sidechains with a real two-way peg. This may permit Bitcoin holders to maneuver their cash to any sidechain they select. Doing this might permit customers to learn from traits and options not discovered on the principle Bitcoin blockchain.
This could possibly be a sidechain with massive blocks and low charges, with sensible contracts, and even with the improved privateness options of an altcoin, like ZCash (ZEC). Zcash performance offers a really perfect complement to the transparency and auditability of Bitcoin.
Bitcoin which is transferred to a sidechain is successfully held in escrow by miners, till it returns. To any exterior observer, it’s unattainable to show that the proprietor has been benefiting from ZCash privateness know-how.
Motivated by chilly arduous Bitcoin
Sztorc has supplied a Drivechain sidechain template and challenged builders to do a “code transplant” from ZCash. This may primarily flip the altcoin right into a sidechain. As each are code forks of Bitcoin, a lot of the supply code already overlaps, that means a lot much less work.
The prize fund is to encourage builders to analyze his Drivechain know-how, and create a proof-of-concept for additional testing. The problem was set on April 20, and at time of publication, no one had claimed the prize. It’s set to run till the upcoming Bitcoin halving on Might 12.
If any challenger is profitable, this might pave the best way for numerous flavors of BTC that are able to taking over the traits of any blockchain asset. If that occurs, it might probably render all altcoins out of date.