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Topic
Board Development & Technical Discussion
Merits 5 from 2 users
Topic OP
Drivechain critiques by gmaxwell revisited, maybe you changed your mind?
by
Wind_FURY
on 09/03/2020, 09:51:53 UTC
⭐ Merited by hugeblack (4) ,Welsh (1)
For the newbies, who might not know. Drivechain is a software side-chain project by Paul Sztorc, which may help Bitcoin in scaling, privacy, and other "short-comings" that altcoins are trying to "fix". With Drivechain, we wouldn't need altcoins. Everything will be a side-chain of Bitcoin.

Quote

Drivechain allows BTC to travel back-and-forth to other software applications (called “sidechains”). Thus, BTC-owners can opt-in to new features or tradeoffs. Those who don’t opt-in, never need to care what any sidechain is doing.

As with the Lightning Network, DC-users move their coins into a “layer-2” – a zone where BTC can change hands an unlimited number of times. Eventually, just the net effect of these transfers is recorded back on layer-1.

Bitcoin Core can’t observe any layer-2 (by design), so we need a way to discourage fraudulent “netting”. LN counters theft via “justice transactions”; DC via forsaken mining revenues. LN-netting is private and instant; DC-netting is public and VERY slow (once per ~3 months).

Key benefits – only obtainable via Drivechain:

Three existential threats to BTC are neutralized – altcoin-competition, hard fork campaigns, and extension block campaigns.
BTC development becomes anti-fragile with respect to CoreDev mistakes.
BTC maintains hashrate security in the long run.
BTC can scale to credit-card level txn-processing – without changing the CONOP of Bitcoin Core. These cheap txns have optimal fungibility and supply vital pretext to the BTC ecosystem.
BTC gains new, experimental abilities, especially P2P event derivatives.


But this is not what the topic is about. It's about criticisms from the past from respected Bitcoin experts, and a revisitation of if they still believe they hold true.

gmaxwell, you said these in the past. With the dawn of Lightning and Liquid side-chains, and observing their own flaws, and short-comings, have you changed your mind from past criticisims on Drivechain?

Your July, 2017 criticism, https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-July/014726.html

December, 2018 criticism with Andrew Poelstra, https://www.youtube.com/watch?v=NA1xSe2nLoY&feature=youtu.be&t=5635