Administrators Vie to Implement ZCash Capability as a Bitcoin Sidechain

Vendors are competing to bring ZCash privacy functionality to a Bitcoin sidechain. To start this, they’re using the Drivechain technology designed by decentralized prediction market pioneer , Paul holmes Sztorc. As an added incentive, Sztorc has announced a prize fund of up to 5. 1 Bitcoin ( BTC ). This bounty may possibly reduce slightly if not claimed when midnight EST on May 1 .

Drivechain adds altcoin functionality to BTC 

Drivechain is an implementation which allows over the creation of Bitcoin sidechains plus a true two-way peg. This would will allow you to Bitcoin holders to move their silver coins to any sidechain they choose. Carrying out this could allow users to benefit between characteristics and features not found on the main Bitcoin blockchain.

This could be a sidechain with hefty blocks and low fees, because of smart contracts, or even with the added to privacy features of an altcoin, get pleasure from ZCash ( ZEC ). Zcash functionality provides an numai bun complement to the transparency and auditability of Bitcoin.

Bitcoin which is transferred to a sidechain is going to be effectively held in escrow by miners, until it returns. To any outside onlooker, it is impossible to prove that the homeowner has been benefiting from ZCash privacy hi-tech.

Motivated via cold hard Bitcoin

Sztorc has provided a Drivechain sidechain template and challenged developers to execute a “code transplant” from ZCash. This can essentially turn the altcoin perfect sidechain. As both are code forks of Bitcoin, most of the source free code|code calculatordecoder} already overlaps, meaning much less business.

The prize never is to encourage developers to investigate the girl Drivechain technology, and create a proof-of-concept for further testing. The challenge was set on April 20, and at time of divulgation, nobody had claimed the create. It is set to run until the next Bitcoin halving on May 12.

If any challenger is successful, this could pave the way for assortment of flavors of BTC which are qualified to taking on the characteristics of any blockchain asset. If that happens, it could most likely render all altcoins obsolete.

Source: cointelegraph.com

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top