Can somebody please explain this BIP300 debate to me like I'm 5 years old? I'm out of the loop and I'm not technical, is this important or can I go about my day? Thanks in advance.
Drivechains are like magic tunnels that connect your treasure chest to other playing rooms, where you can play with new different toys as you like, and then bring it back to the big treasure chest when you're done.
Some kids believe that's a great fun idea, other kids think you can get pretty lost in the tunnels and the chest could have mickey mouse infestations.
Drivechain is an ancient proposal dating back to 2014, before crypto, before the regulatory environment, before Taproot, before the immense explosion of innovation on the Lightning Network. Drivechain is a faux security budget savior and NgU technology hellbent on bringing a 2050 fee environment to bitcoin in 2024. The proponents of this dated product haven't kept up with design patterns on the LN, are in a hurry somewhere (pump my bags), and have a terribly myopic view of bitcoin like most crypto VCs. The highest value use case for a coin or token will always be? Money. Avoid the Drivachainer's crisis narratives. We've been through this with the block-size war already, where bitcoin would die because it couldn't scale enough to absorb the world's transactions. How'd that work for the fork? LOL. Bitcoin is on a long, difficult, and organic road from store of value to transactional currency. Many projects think they can leapfrog these steps. Drivechain doesn't speed any of this up or proffer anything of value along the way. What will, however, is energy innovation, velocity of fiat monetary expansion, sovereign debt, and the rise of non-blockchain Ai/FOSS ecosystems.
Drivechain⤵🗑️