Drivechain Claims to Offer Safe Bitcoin Sidechains with Blockchain Soft Forks Benefits
Drivechain Ready To Offer Easy Bitcoin Sidechains
Some days ago, on September 25, Bitcoin researcher Paul Sztorc announced the first Drivechain release on testnet. The company aims to change the cryptocurrency industry allowing multiple blockchains to use the same fixed pool of Bitcoin.
With the technology provided by Drivechain it would be possible to create soft-forks that would facilitate the emergence of side chains that would operate with their own specific characteristics.
Sidechains would be receiving Bitcoin as deposits from miners and then they would be able to send and receive these coins from the main chain. With these side chains it would be possible to implement different features and improvements. Those Bitcoin side chains can have several distinguishing features.
Bitcoin and the community have several times been involved in different discussions about which things to implement and how to do it. And it has created divisions among the crypto world. However, with these side chains, Sztorc believes that this situation can change.
With the new side chains, developers can launch soft forks that interact with Bitcoin without having to divide the entire community, something that would increase Bitcoin’s stability. Why would developers would like to implement changes to the Bitcoin protocol when they can do it through side chains?
Drivechain technology would also help Bitcoin to increase its dominance in the cryptocurrency market. Ideas and innovations would clearly flow to Bitcoin. The famous virtual currency would be absorbing and implementing successful ideas and concepts that have been created by other developers and projects.
When a miner wants to send Bitcoin out of the sidechain, they would have to agree by a supermajority where these tokens will be spent. After it, the transaction will be posted and it will be processed if everything is correct.
As market participants would have the possibility to track Bitcoins that are moving between the side ad main chains, market makers would have instante liquidity by using atomic cross-chain swaps.
Enthusiasts that want to know more about it can check the usage guide in which Sztorc offers a step-by-step guide about how to use and understand Drivechain.