Drivechains in Bitcoin could be a ‘game-changer,’ but there’s a catch, Bitfinex CTO says | Headlines | News | CoinMarketCap
10/18/2023 21:44
Bitfinex CTO Paolo Ardoino told The Block in a recent interview that drivechains in Bitcoin could be a "game-changer" amid the recently reignited …
Bitfinex CTO Paolo Ardoino told The Block in a recent interview that drivechains in Bitcoin could be a "game-changer" amid the recently reignited debate surrounding the BIP-300 proposal, originally authored by Layer 2 Labs CEO Paul Sztorc in 2017.
"Drivechains in Bitcoin could be a game-changer, since they aspire to faster block times, improved privacy and more complex smart contracts," Ardoino said. "However, they require a change to Bitcoin which could threaten the stability of the mainnet."
Drivechains are native, merge-mined sidechain mechanisms for Bitcoin that require a contentious fork. They could enable users to securely lock their bitcoin using a decentralized two-way peg and mint coins with attributes similar to various altcoins. Drivechains could also offer miners extra fees, …