0 sats \ 4 replies \ @llamabyte OP 31 Jul 2023 \ parent \ on: Foundational Narratives: Collapse of the Bitcoin Empire, A Polemic. bitcoin
Congratulation on your one month. Every day is a win.
replica of what ledger ?
I'm going to assume the misunderstanding here is that you think drivechain wants to replicate the entire bitcoin network as a token. This is not the case.
If you mean the other possible use those words;
replication of a non-bitcoin ledger for a shitcoin such as ethereum, as a token on drivechain: than that is up to the participants in that token, user choice, they get to decide what they want to do and what trade offs they are looking for in a token project that is pegged 1:1 to Bitcoin and for which they can exit from at anytime or within months depending on the method used. The risk is their to take, is not a risk to the bitcoin network as a whole and is not yours or any dev choice to make.
You do not understand DriveChain. This is not entirely your fault, the info about it is spread accross 10 years and about 5 different websites as it has improved.
DriveChain (also called a sidechain) is already deployed in one pseudo incarnation with the Liquid Network. With no ill effect on the network security or chaing its relationship with miners. Where Liquid is closed and custodial, DriveChain is open and "custodial". Custodial in the sense that you are buying in to a Drivechain token or project with the expectation and ability to buyout.
replica of what ledger ?
If you don't even know what the word "replica" or the meaning of the word "ledger" is how did you come to the conclusion you knew anything about the CAP theorem?
Bitcoin, and all its would be copycats, use a global broadcast model, and a global state.
10 minute blocks was chosen because of the physical limitations of the internet.
Increasing throughput, and reducing latency, by necessity progressively exclude more and more possible nodes on the network due just to propagation delay. The tradeoff does not make a more useful network system.
If you want to do fiat finance protocols, go work for fiat finance. Global broadcast model is not something that any fiat money network does. They are all peer to peer, franchise based, small networks with very tight parameters.
Otherwise, if you understood the distinction between global and peer to peer state, then you would see that Lightning is the only way to solve the scalability problem, or something a lot like it. Something that gives you partition resistance, because the network is virtual (addresses are not tied to space or time, only a number) this means that Lightning does not have to be strong against partitioning, because it only operates with mostly fully 6 confirmations old transactions, for most of the lifespan of a channel.
And I have been studying this for some time, and my first instinct when I saw bitcoin was "this might be a way for making a monetised Tor style network". What you build on top of L2 like LN is applications and data transport systems, and you leverage the Consistent, and now also Partition Resistant milliSats to prevent the enemy of Availability - spam and sybil attacks, from shutting down the network. As well as reducing the intelligence gathering required for a 5$ wrench attack.
Drivechains, like all shitcoin ideas, ignores the fact that Bitcoin already is in the Goldilocks zone of distributed systems design for its express purpose: an immutable, and trustworthy monetary ledger that no entity, even States, cannot censor it, let alone craft false transactions that suit their purposes.
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NONE OF THIS HAS ANYTHING TO DO WITH DRIVECHAIN
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Is drivechain based on a global state (ledger) or not?
How is that not relevant?
Drivechains aren't meant to be global state systems, they are marketplaces. They require throughput that can't be achieved in broadcast delay.
Why is it that so many projects talk about anchoring things to bitcoin UTXOs yet only one actually does it, LN. It's a total waste of time.
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They require throughput that can't be achieved in broadcast delay.
What throughput....
I know the meaning of these words, i want to know what you mean by them in this context related to DriveChain.
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