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110 sats \ 2 replies \ @patrick1 22 Sep 2023 \ on: I still don't get what a DriveChain is. bitcoin
A drivechain is a sidechain where funds are custodied by the Bitcoin miners. Rather than using a multisig with a permissioned federation of signers to control on-chain funds (for peg-ins/peg-outs), miners control the funds as a defacto (permissionless) federation.
That's really it at the end of the day.
Pro: it's permissionless. Any miner can "join" the federation. This makes launching a sidechain much easier and thus encourages more innovation.
Con: it will probably lead to more miner centralization because of increased complexity.
One con people often bring up is that miners could steal funds from the sidechain. This would require 51% of miners to agree to steal the funds. This seems incredibly unlikely, and if it did happen we'd have much bigger problems on our hands.
51% for 3 to 6 months with no one noticing
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Thank you. So its in idea focused for the miners to avoid sending their funds and keep them themselves on custody to lock them up so that you can get a token like rBTC. This would be faster and more secure then. Maybe sidechains like RSK can get more funds if they convert themselves to DriveChains getting more funds from miners, right? That would increasea the adoption or rbtc that adds programmability to btc and also their stablecoin DoC, which runs under rsk and is backed by bitcoin.
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