Bitcoin Explained - The Technical Side of Bitcoin

Episode 23: Drivechain


Listen Later

In this episode of “The Van Wirdum Sjorsnado,” hosts Aaron van Wirdum and Sjors Provoost are once again joined by Ruben Somsen. The trio discusses Drivechain, a sidechain project spearheaded by Paul Sztorc.Sidechains are alternative blockchains, where coins are pegged to bitcoin.

This should make the sidechain coins interchangeable with bitcoin and therefore carry an equal value. In a way, sidechains let users “move” bitcoin across blockchains, where they are subject to different protocol rules, allowing for greater transaction capacity, more privacy, and other benefits.Aaron, Sjors and Ruben explain that Drivechain consists of two main innovations.

The first is blind merged mining, which lets Bitcoin miners secure the drivechain with their existing hash power, but without necessarily needing to validate everything that happens on the sidechain.

The second is hashrate escrows, which lets miners “move” coins from the Bitcoin blockchain to the sidechain and back.

The hosts also discuss some of the benefits as well as complications with Drivechain, most notably the security implications of letting miners control the pegging out process. They consider the arguments why this process is incentive compatible (in other words: secure) — or why it might not be.

...more
View all episodesView all episodes
Download on the App Store

Bitcoin Explained - The Technical Side of BitcoinBy Van Wirdum Sjorsnado

  • 4.9
  • 4.9
  • 4.9
  • 4.9
  • 4.9

4.9

18 ratings


More shows like Bitcoin Explained - The Technical Side of Bitcoin

View all
TFTC: A Bitcoin Podcast by Marty Bent

TFTC: A Bitcoin Podcast

760 Listeners

The Peter McCormack Show by Peter McCormack

The Peter McCormack Show

2,181 Listeners

Bitcoin Audible by Guy Swann

Bitcoin Audible

426 Listeners

The Bitcoin Standard Podcast by Dr. Saifedean Ammous

The Bitcoin Standard Podcast

430 Listeners

Stephan Livera Podcast by Stephan Livera

Stephan Livera Podcast

415 Listeners

The Pomp Podcast by Anthony Pompliano

The Pomp Podcast

1,839 Listeners

What Bitcoin Did by Danny Knowles

What Bitcoin Did

254 Listeners

Swan Signal Live - A Bitcoin Show by Swan Bitcoin

Swan Signal Live - A Bitcoin Show

189 Listeners

The Bitcoin Matrix by Cedric Youngelman

The Bitcoin Matrix

80 Listeners

Coin Stories by Natalie Brunell

Coin Stories

429 Listeners

Rabbit Hole Recap by ODELL and Marty Bent

Rabbit Hole Recap

120 Listeners

THE Bitcoin Podcast by Walker America

THE Bitcoin Podcast

37 Listeners

The Jack Mallers Show by Jack Mallers

The Jack Mallers Show

113 Listeners

Bitcoin for Millennials by Bram Kanstein

Bitcoin for Millennials

21 Listeners

The Bitcoin Frontier by Unchained Capital, Inc

The Bitcoin Frontier

35 Listeners