Drivechains in Bitcoin Could Enhance Higher Throughput and Improved Privacy: Bitfinex CTO
Bitfinex Chief Technology Officer (CTO) Paolo Ardoino has stated that drivechains in the Bitcoin network could be the “game changer” amid the ongoing debate surrounding the Bip-300 proposal.
This announcement was made during an exclusive interview with The Block. Ardoino cited that drivechains have the needed capabilities to change the concepts of Bitcoin since they aspire to enhance throughput, improve privacy, and simplify complex smart contracts.
The idea of drivechains was introduced to improve the functionality of Bitcoin's networks by allowing the creation of sidechains, which are separate blockchains anchored to the main Bitcoin blockchain.
Ardoini believed the primary goal of drivechains is to enable the development and deployment of various features and applications that can interact with Bitcoin while maintaining its security and decentralization.
According to him, drivechains would require a change to the Bitcoin network to have throughput and privacy enhancement on Bitcoin.
Drivechains were proposed by Layer 2 Labs Chief Executive Officer (CEO) Paul Sztorc through a Bitcoin Improvement Proposal (BIP) 300.
The proposal inclined a potential native sidechain mechanism for Bitcoin, allowing BTC to be trustlessly bridged to separate chains.
The debate on whether the proposed functionality to improve Bitcoin is making rounds of debates on X (formerly Twitter) and is stirring controversies among global developers and enthusiasts.
A single Bitcoin upgrade can guarantee the network's supremacy over all other crypto assets, while others think it will allow pathways for shitcoins to the network.
Drivechains creation of sidechains is secured through blind merge mining, enabling existing Bitcoin miners to secure other
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