0 sats \ 2 replies \ @huluvublue 10 Aug 2023 \ on: BIP 300/301 DRIVECHAINS Megathread debate/questions/pondering bitcoin
It allows literally everything that could benefit from consensus to anchor to bitcoin. The bitcoin mainchain becomes the universal truth ledger. It massively increases the value of the network if it becomes the global verification standard... If a hash related to some event isnt rolled up and eventurally anchored to the btc blockchain in this heirarchical consensus system it will be like it never happened. Bitcoin blockchain is the spine off which all other branches of the decentralized internet expand from
Hm. Attack vectors seem to open up too
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Drivechain bips effectively firewall mainchain from any nonsense ont he sidechain and consolodate the attack vector to miner theft. It locks the drivechain funds in a special wallet with no priv keys and to avoid miner theft it takes 3-6 months to withdraw from the sidechain. Its basically the major "flaw" imho its too secure i think probabalistically the 2 week escrow works fine but everyone shit themselves so paul bumped it up to 3 months... Script wise it is relatively simple (im not an expert but if i can understand it its pretty simple) it is commonly argued whenever we get a drivechain, ctv, recirsive covenants or anyprevout upgrade we should just stop for a while bc at that point scalable drivechains are possible(with any of the upgrade, drivechain is the most limited) If we dont get drivechain we might get some more complex covenant thing which i personally dont trust
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